Please friends help me out,these are doubts of parveen sharma final accounts june 2012 batch....
1In value added statement,when preparing application statement under the head "ENTITY"...why do we take depreciation of rs. 4.10 lakh?depreciation is not company s reserve...then why have we taken it?
2 sir told us examiner will focus on concepts only...then short terms like writing G ltd. instead of full co.s name Genpact limited....short terms can be written in exam....where can we use short terms exactly?
3 under revised schedule VI under the head non current assets "why are deferred tax assets taken as non current assets and not current assets"?And why are amalgamation adjustment account taken as non current assets?what is amalgamation adjustment account?
5.Assume loan to be long term and creditors to be short term if not specified in exam?what is logic behind it?why is it so?
6 under revised schedule VI under the head current assets "we take trade receivables then where do non trade receivables go?what is difference between inventory and stock exactly?
7 under revised schedule VI why is proposed dividend taken as part of reserves and surplus:?
8.what is difference between share certificate and share warrant?
9 why is ESOP taken as part of reserve and surplus?
10 Fixed assets are divided into two parts tangible and intangible?
11 what is plant in plant and machinery?please give this answer with example as i just know the general meaning but dont know clearly
12 under revised schedule VI why are debtors exceeding 6 months have to be taken under head "long term receivables"?why are debtors exceeding 1 year not taken under head long term receivables?
13 under revised schedule VI you said inventory are always current assets...why always current assets?
14 what is liability held for trade mean?Liability held for non trade mean current liability or non current liability?
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