Dear All,
While finalizing the Financial Statement for the Charitable Trust for the fiscal year 2024-25, I observed that certain corpus funds, which were transferred to income in FY 2023-24 and reported in the Income and Expense statement last year, have now been moved back to the Corpus (General) Fund. This adjustment has resulted in these funds being reported as a balance sheet item, thereby increasing the General Fund.

Is it acceptable to present the financials in this manner for the current year? Last year, this same fund was classified as 'Other Income,' and the net surplus was added to the General Fund (Balance Sheet item). This year, the auditor has reduced the value of the last years closing General Fund balance and subsequently added last year's income back to the Corpus Fund.

Thank you in advance for your guidance on this matter.

Dear Sir,

Please guide - Which amount to be considered for Fire and Perils Insurance of Assets:

1. Gross Value (Actual Cost)
2. Net Value (Gross Value - Depreciation Value)

Thanx

If Mr. X Export Of Goods From India To Oman. Mr. X Received Ocean Freight Invoice Of USD. 800 From Mr. Y Which Are Located In Oman. The Freight Invoice Is Without GST. I Have Doubts Which Are Below

1) How To Pass Accounting Entry In Books
2) Can Mr. X Liable To Pay RCM On Ocean Freight.
3) If Mr. X Liable To Pay RCM On Freight Then What Is The RCM Rate ?
4) This Ocean Freight Invoice Treated As Import Of Service ?

How to know date of listed of any company . Is any method to know date of listed of company.

Renting of trucks, JCB, cranes etc., is not covered under RCM.
Under which expenses need to account

I am working in co operative society.tds deducted on accrued interest rs 65. Accrued interest is rs 651
We cannot taken accrued interest to the income.so can you please suggest how to pass the journal entry

Please provide some best AI tools for Accounting and Taxation, Like EPF and ESI Etc.

whether EPF will be deducted on basic salary if More than 15,000 by employer on above 15,000 amount or only on 15,000 and also EPF deduction is compulsory to deduct if basic salary is more than 15,000.

can any one provide formula for calculating EPF and ESI in excel for employer and employee both.

I have currently started working in transport (freight) company. I have to make a legder of a prticular truck and have to do enteries in it from their ledger rgister. The took service from some mechanic. So how can I book this in tally erp system and which head should I DR and what should I need to CREDIT?