Can a firm claim preliminary expenses
incurred(manufacturing) or only its is applicable to
Companies? can a firm claim ,1/5 of such expenses incurred
as deduction as in case of Companies? or any other procedure.
Our company is in manufacturing stage and we had paid advance payment to several suppliers for some construction purposes. As manufacturing stage I want to treat it as Capital work in progress.So kindly advise how can we pass the entries for the same.
why charges PURCHASE @ 15 % TAX RATE ?
I WANT TO KHOW IS THE CFP (CETICFIED FINANCIAL PLANNER) IS
A GOOD COURSE, IS THEY ANY INSISTUTE IN HYDERABAD,IF ANY
ONE DOING THIS COURSE PLEASE REPLY ME.
Kindly tell me Where is the best institute fir SAP(FICO-CIN
and New GL module specially) in Hyderabad ASAP.
what is a state cheque? how it differes from stale cheque?
I AM A/C'S MANAGER IN CONSTRUCTION CO.WE TAKE TRANSIT
MIXTURE ON RENT BASE FROM OUTSIDER.THE SUPPLIER CHARGE VAT
ON THAT MACHINERY @ 15%,IS IT TRUE? IF YES PL.SAY ME WHICH
SECTION APPLY UNDER THIS LAW OR NOTIFICATION OR CIRCULER
FROM COMMERCIAL TAX DEPATMENT.
what difference in motvat & cenvat? and why this prepared?
Treatment of Government grant and its utilization in P
Which Exchange determine Foreign ?
M/s ABC Brothers, which was registered in the year 2000, has
been following Straight
Line Method (SLM) of depreciation. In the current year it
changed its method from
Straight Line to Written Down Value (WDV) Method, since such
change would result in
the additional depreciation of Rs. 200 lakhs as a result of
which the firm would qualify
to be declared as a sick industrial unit. The auditor raised
objection to this change in
the method of depreciation.
The objection of the auditor is justified because
(a) Change in the method of depreciation should be done only
with the consent of
(b) Depreciation method can be changed only from WDV to SLM
and not vice versa
(c) Change in the method of deprecation should be done only
if it is required by
some statute and change would result in appropriate
presentation of financial
(d) Method of depreciation cannot be changed under any
DHPL is a small sized firm manufacturing hand tools. It
manufacturing plan is situated in haryana. The company's
sales in the year ending on 31st march 2007 were Rs.1000
million(Rs.100 crore) on an asset base of Rs.650 million.
The net profit of the company was Rs.76 million. The
management of the company wants to improve profitability
further. The required rate of the company is 14 percent.The
company is currently considering an investment proposal.
One is to expand its manufacturing capacity. The estimated
cost of the new equipment is Rs.250 million. It is expected
to have an economic life of 10 years. The accountant
forecasts that net cash inflows would be Rs.45 million per
annum for the first three years, Rs.68 million per annum
from year four to year eight and for the remaining two
years Rs.30 million per annum. The plant can be sold for
Rs.200 million: (a) The company can borrow funds from a
nationalized bank at the interest rate of 14 percent for 10
years. It will be required to pay equal annum installment
of interest and repayment of principal. (b) A financial
institution has offered to lend money to DHPL at 13.5 per
annum but it needs to pay equated quarterly installment of
interest and repayment of principal. Questions: (1) Should
the company expand its capacity? show the computation of
NPV. (2) What is the annual installment of bank loan? (3)
calculate the quarterly installment of the financial
institution loan. (4) should the company borrow from the
bank of from the financial institution?
iv, A non -performing asset is
A, Money at call and short notices
b, An asset that ceases to generate income
c, cash balance in till
d, none of the above