If co. has not followed AS in last year, can this be taken as bae to qualify the Audit Report of this year under SA-510 Initial Engagements- Opening Balances

My company was having certain old expense provisions in the books in the year 2008, during the audit of 2009 (calender year), reversed the provisions as it is.
But during the financial year audit for 2009-10, decided to reinstate those provision and show it as other income, since during assesment there would be a problem in justifying the low expenses.
What are the implications, is the company justified

A company has got n ERP system insalled.

Agreement with vendor says that it will provide Implementation services.

And, it will also provide Support Services after the said system goes live.

Now, I am acceptable to capitalising Implementation Cost.

But, I am of the view that cost of Support Services should not be capitalised, since, even with support services, the asset is ready for use.

However, Support Services are of essential nature without which running the software becomes very difficult for the company.

Kindly advise as to whether Support Services should be capitalised??

Give reasons as well.

Is audit of all trusts compulsory in india?Please state the position for societies.

how to work out value of closing finished stock at the time of finalisation.PRACTICALLY we know mkt price but how to compute cost price whn diffrent raw material is using to produce product & this different raw material having diffrent quantity units i.e some in kgs ,mt,liters for same product.

thanx

One of my clients is into the business which falls under 194C

would like to confirm the following:

If he is following cash method of accounting then for the purpose of calculating turnover,i take into account only gross receipts (deposits in bank account)

Now,service tax (ST)is applicable to him so in the ST return i would have to show turnover as actual sales billed during that year

Am i right??
Please confirm the above


Regards
Alka

PS:If anyone has any suggestions as to how to account in tally (cash based accounting vis-a-vis Service tax records) then please share it..

Hi,
I work as a freelancer for few US and UK clients. I will get the payment via paypal. I don't have any employers.
Should i register as a company or is there any other option to register as a freelancer in india? If yes,can anyone pls let me know - how to proceed further?
Like,where can i get the applications(online)?
And,what will be the total cost(apprx) to do the registration?
Thanks in advance.....

Dear sir/seniors

Can u plz suggest me the impact of a board meeting in the said case

1. The name of the director appears on board meeting but the same director at the same time was out of india.
Actually in most of the small companies board meetings are conducted in a paper only no actual BM conducts by them.
I came across the situation where i found that one of their directors name appeared in the board meeting but the same director was out of india.
As a auditor what is my responsibility under-
1. CARO
2. Cos Act
3. SEBI
4. any other statute/act

your answers must be supported with evidence with reference to act

hello sir,
i am umesh aswani , student of ipcc , i cleared my first group of ipcc in nov 09. & now my second group in may 10 please friend help me about new sa & revised sa are issued by icai are applicable for may10 or not . because i collect all new & revised SA from internet . so i can refer or not is in exam which SA applicable

A CA who has COP and have preference shares of Bharti Airtel ltd.can become the auditor of Bharti Airtel.