An employee Rs.7000 per month salary, how much his 6 months PF contribution.

madhav

• Jan 10th, 2018

First, find out how much Basic and DA he is getting on that we have to calculate 12 % on the whole salary

• Jul 25th, 2017

7000x6x12%=5040

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Please tell me the complete Record to Report cycle.

Kapil Bhardwaj

• Mar 7th, 2018

Need complete Cycle of R2R

devendra

• Mar 22nd, 2017

R2R starts with
Source Documents=>Journal entry=>Ledger=>Trial balance=>Adjustments=>Closing and consolidation=> Financial Reporting

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anil_sheoran

 Profile Answers by anil_sheoran Questions by anil_sheoran

• Mar 22nd, 2010

Cost is not included in govt. balance sheet.

rama krishna

• Jul 16th, 2007

I think it is cost, because it is a part of trading or profit & loss account

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Read Best Answer

Editorial / Best Answer

vasudeo007  

 Profile Answers by vasudeo007 Questions by vasudeo007

• Member Since Jul-2008 | Aug 19th, 2008

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The word "Turnover" has many meanings.

For a trader/manufacturer/service provider it means total sales (cash+credit).

While when a bank gives loan to any person or company they see the turnover.

Here the turnover generally refers to the total credits in any given period in account holder's account.

While bank's own turnover is the total loans disbursed + outstanding recovery of earlier period - bad debts (loans written off) in this period.

Considering the disclosure norms in Accounting Standards the announcement of turnover is required. I am not sure for which industries it is mandatory and for which industries it is not. But it is nevertheless announced.

Balance sheet of any company can be easily window dressed. So to understand whether whatever profits that are shown are really from turnover or not the announcement of turnover becomes necessary.

In case if a person/investor finds out that the turnover of any company is not high but the company is saying that they have made big profits then he can probe in details as to how the company is making its money.

In case if the investor finds out that the company is selling the goods to a huge quantity but not making much profits then he can investigate the books of accounts to find out what are the causes of low profitability.

Vasudeo.

mech.sanjay

 Profile Answers by mech.sanjay Questions by mech.sanjay

• Mar 24th, 2011

An aspest-how the management efficiency is being turned around in terms of quantity being sold on technology, cost, human & time constraints.note-these constraints can be prioritized.

vasudeo007

 Profile Answers by vasudeo007 Questions by vasudeo007

• Aug 19th, 2008

The word "Turnover" has many meanings.For a trader/manufacturer/service provider it means total sales (cash+credit).While when a bank gives loan to any person or company they see the turnove...

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vijay.rathinavel

 Profile Answers by vijay.rathinavel Questions by vijay.rathinavel

• Mar 13th, 2010

Cash FlowIt is a Statement showing changes in inflow & outflow of cash during the period.A. Operating Activities,B. Investment ActivitiesC. Financial ActivitiesThe CFS allows investors to und...

dinanath

 Profile Answers by dinanath Questions by dinanath

• Jan 31st, 2009

Changes in working capital due to Non Current Transaction is called Fund Flow and Changes in Working capital due to current and non current transaction is called Cash Flow.

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Joyeusenini

 Profile Answers by Joyeusenini Questions by Joyeusenini

• Mar 13th, 2009

The direction and control of activities with the purpose of getting the right inventory in the right place at the right time in the right quantity in the right form at the right cost.

ahamed786

 Profile Answers by ahamed786 Questions by ahamed786

• May 16th, 2008

To maintain stock levels

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How to account for Letter of Credit in the Books of Accounts of the Company ?

Md. Mamun Kabir

• Aug 4th, 2015

LC Related all Accounting Solution

a. kalyanaraman a. kalyanaraman

• Jan 24th, 2014

Difference between inland lc and foreign lc in accounting journals

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utsav

• Dec 14th, 2015

Retail invoice cannot be considered as a "cash receipt" since, the retail invoice is just as quotation or bill. Whereas cash receipt is proof of payment.

Narasimhaprasad K

• Feb 24th, 2014

Retail invoice is for detailed product or services details as price per Quantity, rate, and Tax on product and Unit of measure...etc.,

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Ramesh bought the machinery for 100000 and annual depreciation is 10% on diminishing value method,11 month he sold the machine for 20K. Pass the appropriate journal entries..

Jasir

• Jul 26th, 2017

Depreciation a/c dr 9,167.00
Cash a/c dr 20,000.00
P/L a/c dr 70,833.00
To Machinery a/c 100,000.00

UMA

• Jun 24th, 2016

Cash A/C 20,000
P/L A/C 15337
machinery A/C 35,337

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vasudeo007

 Profile Answers by vasudeo007 Questions by vasudeo007

• Aug 26th, 2008

Double entry book keeping system was first mentioned by "Luca De Bargo Pacioli" in his book Summa de arithmetica in 1494.He was a classmate of Leonardo Da Vinci. The book Summa De Arithmetica was basi...

mdffazal

 Profile Answers by mdffazal Questions by mdffazal

• Dec 8th, 2007

Simple, double entry book keeping , actually we know that every thing have two aspect , in accounting systems each and every transaction treats as two aspects reciever/giver, what comes/ what goes out...

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How to prepare finalisation accounts?

khaleel ibrahim

• Apr 24th, 2015

Finalization?accounts?means?prepare?to?final?account.first?of?all?journal entries,ledger?and?trial?balance?and?trading?and profit/loss?accounts.and?also?balance sheet.

lakshmi

• Feb 6th, 2015

Finalization ac is a statement which is considered to know financial statement of a business. for a business it is very necessary to know. it is prepared after profit and loss ac.

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nave een

• Feb 21st, 2017

CST (Central Sales Tax) is a form of indirect tax imposed only on goods sold from one state to another state, which particularly takes into account that the buyer and the seller needs to be in two dif...

Manjunath

• Dec 28th, 2016

When we are selling goods to another state, CST is applicable
GST is applicable all over India and same VAT rate will be applicable

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sindhuja

• Dec 8th, 2014

All Accounting Ledgers in mentioned period reconcile &
After that finalize Trading & Profit & loss A/c &
Balance sheet called finalization of accounts.
Finalization of Accounting entries like Provision of Expenses, Depreciation etc

sohail

• Oct 11th, 2014

Somebody explain me process of A/C finalization

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AMIT KUMAR SINGH

• Jan 17th, 2016

If an asset is purchased during the financial year and it is not been put to use even for a single day, then the depreciation cant be claimed. If its been use even for a single day then the depreciation should be charged for 180 days.

Navjot Singh

• Oct 7th, 2015

The assets which is used for business purpose in the previous year then we can claim depreciation otherwise we cant.

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Waheed Yakout

• Sep 7th, 2015

"LC" Letter of credit is strong guarantee specially through international transaction, It is so safe for both of seller and buyer, LC contain of 4 arms "Supplier, Supplier bank, Buyer and Buyer bank"

miki

• Sep 6th, 2011

Letter of credit is the way of banks agreement which buyer's are paying to seller.

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UMMAR ISLAM TANTARY

• Nov 21st, 2021

Because Profit is liability of the business for its
propriters or share holders

rahul patidar

• Oct 1st, 2021

If you not made any type of transaction it mean you have not earned any type of profit.So that not need to shown in balancesheet.

Code
 

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Mahmood

• Sep 11th, 2014

Perpetual is used for daily record or record as up to date of a good sold.. And Periodic is used for a long or a period ended record, periodic is used for a period of 1 month , 6 months or a year.. I hope u understood the difference between both.. Mahmood Latif..

Sikander Riaz

• Jul 6th, 2012

In periodic costing we come to know about the cost incurred at the end of the time period, whereas in perpetual cost we know about the cost incurred at each and every moment. Perpetual inventory system uses LIFO,FIFo and average cost method

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Muhammad Ikhlaque

• Sep 27th, 2017

Would it be a Bank receipt voucher of Journal Voucher

Aman Raj

• May 31st, 2017

Bank A/c Dr.
To Party A/c Cr

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Number of reconciliation

priya

• May 13th, 2014

My opinion is reconciliation is a differences between the bank passbook and customers cash book

Hemanta Behera

• Mar 19th, 2014

Reconciliation is the part to tally every transaction.

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vasudeo007

 Profile Answers by vasudeo007 Questions by vasudeo007

• Aug 26th, 2008

Many people gave very precise and appropriate answer of this question  here. Let me also try.In a balance sheet of any company the liabilities are bifurcated into a) capital, b) loans and c) curr...

dingregurudatt

 Profile Answers by dingregurudatt Questions by dingregurudatt

• Jun 5th, 2008

Working capital mean by current assets minus current libialities

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