Answer / guest

SORP stands for "Statement of Recommended Practice" and is
a best practice guide for accountancy in a specialised
sector. It is normally issued by the regulatory body
relevant to that sector and recognised by the ASB
(Accounting Standards Board).

difference between reasons for BRS?

1 Answers  

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What if forfeiture of shares?

2 Answers   Capital IQ,

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HOW CAN I BOOKED RS.200000/ LETTER OF CREDIT(L/C)A/C WITH PARTIES THROUGH BANK IN TALLY.

1 Answers  

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What is the difference between Cash accounting System and Mercantile system of accounting

1 Answers  

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Expand ________CASE

1 Answers   HCL,

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From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.

0 Answers   Ignou,

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Expand T D R

3 Answers  

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Classification of Bank A/c and Bank OD account

1 Answers  

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How do you assess the value of intangible assets such as copyrights and logos?

3 Answers  

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what is the difference between a call option and a put option?

4 Answers  

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What is put option, call option, mutual fund?

3 Answers   Wipro,

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Choose the right answer When transport charges reimbursed by the supplier we have to credit 1.Transport charges 2.supplier 3.Other income

2 Answers  

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