Answer / durgesh

preliminary expenses are those expenses which incurred
before the commencement of bussiness whereas miscellaneous
expenses incurred during the course of bussiness which are
not adjustable under any other head.

Answer / viswanath.chaganti

Preliminary expenses are expenses incurred for
incorporation of company/business. These expenses will be
written off over a period after incorporating the
business.These expenses will be shown in Balance sheet
asset side till write off.

Miscellaneous expenses are revenue in nature. Where
expenditure not related to particular head of account or
not able to classify, will accounted to Miscellaneous
expenses. These expenses will be transferred to P & L
account in the year end. Any miscellaneous expenses debited
to P & L a/c in excess of prescribed limit by Income Tax
Act, 1956 will be added back to income by authorities and
will be taxed accordingly.

I want to develope with my basic nowledge of accounts.what books i have to read.can you tell me the suggesion.

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What do you think you do well?

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EXPAND_________SCB

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what you mean by landed cost?

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Expand A C

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DEFINE "COMMERCE"

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Expand ________GDP

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Can you please help me calculate the pre tax profit for credit card for 2014 using the following Assumptions. Request you to list the steps used. Charges Late fee £12 per occurrence Over limit fee £10 per occurrence Cash fees 3% of cash withdrawal value Annual Fee £25 per account, per year Interchange 1% of transaction value KPIs Accounts overdue 10% per month Accounts over limit 15% per month Average APR 30% Balances revolving 90% of balance Average balance £900 at end of 2013 Expected growth in average balance (2014) 10% per annum Assumptions Open accounts 200,000 at 2013 year-end New accounts booked 5,000 per month Annual operating cost £50 per open account Cost of Acquisition £50 per account Provision rate 9% of total balances Annual cost of funds 4% by balance Charge off Unit charge-off rate in 2014 11% of accounts at 2013 year-end Unit charge-off rate in 2014 0% of accounts booked in 2014 Post charge-off recoveries 20% of balance Account Transactions Monthly turnover 5% of total month end balances Cash advances 20% of monthly turnover Additional Assumptions Please state any additional assumptions you have made to calculate your answer Thanks in advance,

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Short Answer on ________Ad-Valorem Duties

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