Answer Posted / suresh

Contingent Liabilities are shown in Notes to Accounts or
under Explanatory items depending on where the BS is
prepared. In some western countries CL is shown under
Auditors report and as an explanation to a possible
liability payable in the next year or future years.
Mostly these are related to court law suits or patent
issues/drugs abuse cases etc.

Most of the CL are not given any value in the BS but a note
saying that a payment of $$$$ may fall due on a possible
liability of a law suite etc etc...

The liability that cannot be quantified correctly to the
final value....say a legal liability or a product warantee
but a possible payment that may arrise in future if not
covered fully under any insurance.

It's the responsibility of the Auditor and the
Finance/Accounts Dept to workout at the aprox value to be
shown in the notes to a/c as CL based on a rough estimate.

Is WCT paid to be considered as overhead during costing in construction firm?

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Expand---------MNOP

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Sensitive field have been defined and customized for vendor master data. For which of the following sensitive fields will an update trigger dual control?(any 1 answer) Currency Account group IBAN VENDOR ACCOUNT NUMBER

2272

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what are the aspects an auditor has to see when he/she is doing the Purchase,Sales and Journal Vouching

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WHAT IS THE DIFFERENCE BETWEEN COST CONTRL & COST REDUCTION

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When we are raised a interstate invoice then which type invoice we are raised

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How exchange rates are maintained in sap

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who is the pramotar?

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1. The controlling department wants to see depreciation amount on internal orders. Which customizing setting do you need to make in asset accounting?(any 3 answer) Make the internal order in active assignment object. Make the internal order an account assignment object for the depreciation run. Set the field internal order to required or optional in the screen layout. Enhance relevant transfer variant by adding the field internal order. Assign the field internal order to account determination.

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Provision of Bad Debts is made in compliance with the convention of -----------

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would gross expenditure vouch the correctness or otherwise of the given expenses?

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what is balance sheet, capital budgeting, financial statements, current ratio, profit maximization?

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what is the difference between Assets Allocation & Security selection?

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What will be the consequences if the partnership is not registered

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