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Do you think accounting standards are mandatory and why?


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difference between debit notes and credit notes

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Dear sir , 1-what is diffrence local tax & vat 2 -what is sales tax. tds. service tax challan & return due date(monthly & quartly, annually) 3- what is deprecation rate in company act 4-what is income tax latest limit-

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Opening stock 17499565 purchses 89693855 expanditure 1735800 deprciation 223309 patner salary 300000 interst paod 937500 provisions 119265 sales 91600120.adjustment 1 gross profit is 6.72percentage on sales.2.net profit is 3.10 percent on sales

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Q1.How depreciation deffer from depletion? Q2.show the main benefit from calculating and recording depreciation.

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Mr. A purchased a machinery costing Rs. 1,00,000 on 1st October, 2005. Transportation and installation charges were incurred amounting Rs. 10,000 and Rs. 4,000 respectively. Dismantling charges of the old machine in place of which new machine was purchased amounted Rs. 10,000. Market value of the machine was estimated at Rs. 1,20,000 on 31st March 2006. While finalising the annual accounts, A values the machinery at Rs. 1,20,000 in his books. Which of the following concepts was violated by A? (a) Cost concept (b) Matching concept (c) Realisation concept (d) Periodicity concept.

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