Interested to Buy Any Domain ? << Click Here >> for more details...
Who prepare income and expenditure account and for what?
- 9 Answers
- 31561 Views
- Scope International, I also Faced
- E-Mail Answers
Answer Posted / nalini reddy
1)"income is the sum of all the wages, salaries, profits,
interests payments, rents and other forms of earnings
received... in a given period of time.'' For firms, income
generally refers to net-profit: what remains of revenue
after expenses have been subtracted.
2)Capital expenditures (CAPEX or capex) are expenditures
creating future benefits. A capital expenditure is incurred
when a business spends money either to buy fixed assets or
to add to the value of an existing fixed asset with a
useful life that extends beyond the taxable year.
And prepared by Accounts department.
| Is This Answer Correct ? | 13 Yes | 4 No |
Post New Answer View All Answers
i have interview in KVB on 12-12-08. so Please send me some questions asked in previous interviews contucted by KVB?
How to caluculate the value of Corporate Profit, the value of personal savings and the value of indirect tax?
Exapnd--------RAN
Who will be called as consignee
Expand---------DBPC
We are a education institute based in chennai.if i purchase a product in chennai and i transfer it to our branch which is in bangalore. we don't have tin nos,Sales tax nos, cst nos. We have only service tax nos. what is the procedure.
How to calculate closing stock? I have opening stock of 72 lacs (average costing without tax) and purchase of 49 lacs (with tax) and sales of 101 lacs (without tax). What is my closing stock then???? Should i add tax in sales? Where all should tax be included and where all should tax NOT be included? Right now i calculated => 72(no tax)+49(with tax)-101(no tax) = 20 lacs. IS this correct?
Three steps for correction in BRS?
How can a Society be converted to a Private Limited Company in the Real Estate Industry and at the same time have the least tax liability upon it's profits earned during the financial year closing
what are the uniform public construction cost accounting act procedures?
what is Derivative Documentation,Derivative Settlements,Derivative confirmation?
Tell me the steps for Import and Export Thanks
WHAT IS CORPORATE ACTION?
what is the entry for goods sent from one factory to another under inter branch transfer sale of the same compny and what should be the valuation for this purpose?
Mostly what type of manufactures are coming under TDS and basic rate for each category
