hi, I need information about financial and cost accounting in MRO Center (aviation) .

Shrutika Rastogi

• Jul 18th, 2014

Financial?accounting?deals?with?arrangement?of?funds?whereas?cost?accounting?deals?with?management?of?cost?and?cost?centers,cost?control.

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What is the difference between Master Data Goverance and Master Data Management?

Arvind

• Aug 9th, 2014

Management is an age-old term that is synonymous with ADD/MOD/DEL of Master Data (master data is those bits of info which dont change or change very rarely, for ex Customer details like Name, Address,...

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If my companies service tax is paid by my own a/c. After that my company pay the amount to me by issuing a cheque for me, then what is the journal entries for all this and how should I pass the entry in Tally?

Prashant

• Jul 13th, 2015

Create an Imprest Account in name of Individual paying the service tax. Entries will go like this 1- Service tax payable a/c Dr. ........... To Indiv. Imprest A/c ......

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What is the rate of TDS in puchase of land in corporation area in Kerala

A.S.Madhavan

• Nov 11th, 2015

Purchase of property does not attract TDS as there is no service involved, commission/brokerage for purchase of property can be charged with TDS @2%.

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In addition to trade discount the party has also given cash discount at the time of making complete payment how the same is accounted?

MURUGAN A

• Jul 21st, 2018

Bank account A /c dr.
cash discount A/c dr.
Customer A/c

Note : trade discount should not account.

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Mr.x purchased a building for 55 million dollars and took depreciation on it for complete 39 years and now his son want to sell the building but as he claimed the amount for complete 55 million through out the years. On what basis now he need to sell the building. For only 55 Million or For How Much?

veena

• May 9th, 2017

55 million dollors and above

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I want to know TDS will be collected in what percent. Service Tax in what percent generally they will collect. And other taxes also.

Manjunath.kotagi

• Dec 4th, 2016

For service rendered invoice we need to deduct TDS, if vendor Pan# 4th letter is P we have to deduct 1% on base amount, if 4th letter is C or F or any, we need to deduct 2% TDS, if the invoice related...

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In case of credit sales return, debit the sales ledger and credit the party ledger is this true or false

Vinod kumar Reddy

• Nov 21st, 2018

True
when credit sales happen then the entry will be
Debtor/third party a/c DR
To Sales a/c CR
when those sales are returned then the entry will be
sales return a/c DR
To Debtor/third party a/c

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Provision entries cannot be recorded in Tally ERP 9 is this true or false

priya verma

• Jan 22nd, 2019

Yes, provision entries can be entered in tally erp9

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satya

• Aug 20th, 2006

Assets in Banks are Loans and Advances given to borrowers. These Assets are divided into 4 categories. they are1. Standard Assets:These accounts are good and the borrower is repaying the loan as per s...

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srinivas g

• Oct 14th, 2006

in business transactions which is a recent transaction .it is call dormat account

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T.Prasad

• Aug 11th, 2006

Hi, This is prasadStep involved in project implementation :a. Identification of the need. b) Idea generation and screening of ideas.  c) Feasibility Study. d) Project Development  e) Impleme...

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The principles of developing an accounting information system do not include a usefulnessb flexibilityc cost effectiveness d elimination of human involvement

Appropriation is an estimate of expenditure to be incurred. It serves as a benchmark upon which the actions and performance of a governmental unit are measured. It helps monitor and set control to budgetary expenditures; a means by which variances are determined by comparing actual expenses with appropriated balances.

Wasting assets are those which will decrease by the consumption. ex:- coal mines

How do you cope with multiple deadlines, if there are all asked at once ?How do you prioritise them ?How do you handle the pressure in this kind of situation ?Do you feel energised by them ?