Accounting and Auditing - Page 6

raja83soomro · #51 Sunday, May 15, 2011

Quote:

Originally Posted by shakeel shaikh

process costing & standard costing are the 2 main components of cost accounting i believe there is nothing that could be skipped in these 2..u better study them in detail...... and im surprised what can be left unstudied in partnership accounting as we almost cover everything in previous studies like bcom etc.... so brother u better study these topics in detail

asslamalekum........can u tell me how i can downloading vu hand outs of risk manhgemrnt pl tell me

sahens · #52 Tuesday, May 24, 2011

Quote:

Originally Posted by rabishawaal

i dont agree with u that C.A is not progressing well.Getting a professional degree in any field is a thing to desire for and rewarding at the same time.em an ACMA n serving in public sector as a guzztd but non CSP officer n i feel that the environment is changing in public sector as well as they r hiring professional degree holders as a preference over the jack of all but master of none.Efforts have been made to convert the accrual basis of accounting to modified cash basis of accounting.SAP is being implimented over here n things have improved very much by the involvement of professionals as consultants in Audit n Accounts group.I also chose this group as a prefrnce over DMG or otha groups as i belive in professionalism n growth in the relevant n right direction no matter u r serve in public or Pvt Sector

My brother he might not have talked about the CA profession. He might have talked about his personal CA.... like if he might be taking it hard for himself to do... so enjoy ACMA sb...

smilelove · #53 Monday, June 27, 2011

Asslam o alaikum and pls share notes of accouting and auditing

thanks and best regards

scorpion king · #54 Friday, December 09, 2011

Dear Friends,

It is to inform all of you that score of accounting has been marvelous in CE-2011 contrary to one of the most difficult papers.

Marking has been highly lenient and everyone is much surprised about their marks in this paper. No idea what will happen now. But what has become a proven fact that ds paper is a full of surprises.

Stay Blessed.

xepan · #55 Tuesday, September 11, 2012

Quote:

Originally Posted by ziabacha

Dear,
Thanks for your worthy suggestions. If you can please give some tips regarding statistics; its course material/books etc.

Good luck
zia

Statistics ki preparation k lye Sher M. Choudhary and Shahid Kamal ki bechlors level ki donon books buy kar lo and selected topic ki tyari kar lo. If you could get deeper level of knowledge in statistics, you may even get more than 90 marks. stay blessed

seher bano · #56 Sunday, December 30, 2012

Seniors, please solve my problem regarding adjusting entries...
i am expert in making adjusting entries, but i through out my academic career studied meigs and meigs. adjusting entries in meigs and meigs and that of M.A Ghani ( in final accounts is different).

I am confused about the entries of both of these books.

e.g... we have paid rent in advance(as per meigs and meigs) at the time of financial statments, our entries would be this:

Rent expence(dr)................... Rs. 1000
Prepaid Rent(cr).................................Rs. 1000.

However, as per M.A ghani( in final accouts) our entries would be this:

Prepaid Rent A/c(dr)......................Rs. 1000
To Rent A/c(cr).............................Rs. 1000
Please guide in this regard. There are many other entries of the same kind.
Edit/Delete Message

DDAY · #57 Monday, December 31, 2012

Quote:

Originally Posted by seher bano

Seniors, please solve my problem regarding adjusting entries...
i am expert in making adjusting entries, but i through out my academic career studied meigs and meigs. adjusting entries in meigs and meigs and that of M.A Ghani ( in final accounts is different).

I am confused about the entries of both of these books.

e.g... we have paid rent in advance(as per meigs and meigs) at the time of financial statments, our entries would be this:

Rent expence(dr)................... Rs. 1000
Prepaid Rent(cr).................................Rs. 1000.

However, as per M.A ghani( in final accouts) our entries would be this:

Prepaid Rent A/c(dr)......................Rs. 1000
To Rent A/c(cr).............................Rs. 1000
Please guide in this regard. There are many other entries of the same kind.
Edit/Delete Message

First entry is for the opening of new period while second was made during the closing of the period....
for example: when we close the period and we have some amount of rent is extra then it will be c/f for new period. so the entry will be

Prepaid rent account (dr)................xxx
rent expense/rent a/c (cr)..............xxx

in the same way for the new period the entries will be reverse as

Rent expense/rent a/c (dr)..............xxx
prepaid rent a/c (cr).......................xxx

If im wrong then plz correct it..............

seher bano · #58 Monday, December 31, 2012

Quote:

Originally Posted by DDAY

First entry is for the opening of new period while second was made during the closing of the period....
for example: when we close the period and we have some amount of rent is extra then it will be c/f for new period. so the entry will be

Prepaid rent account (dr)................xxx
rent expense/rent a/c (cr)..............xxx

in the same way for the new period the entries will be reverse as

Rent expense/rent a/c (dr)..............xxx
prepaid rent a/c (cr).......................xxx

If im wrong then plz correct it..............

Thanks for your response, but you are partly right. As i have asked two question. firstly, the difference of adjustments entries in meigs and meigs and that of M.A Ghani. Secondly, the logic of dr. and cr. of these entries.

DDAY · #59 Monday, December 31, 2012

Quote:

Originally Posted by seher bano

Thanks for your response, but you are partly right. As i have asked two question. firstly, the difference of adjustments entries in meigs and meigs and that of M.A Ghani. Secondly, the logic of dr. and cr. of these entries.

As logic i have explained in my first reply........... i did this by using petiwala book of B.com so i dont have any idea of meigs & meigs but it is similar in M.A Ghani's book Principle of Accounting page#206..

seher bano · #60 Monday, December 31, 2012

Quote:

Originally Posted by DDAY

As logic i have explained in my first reply........... i did this by using petiwala book of B.com so i dont have any idea of meigs & meigs but it is similar in M.A Ghani's book Principle of Accounting page#206..

OK i will discuss after having a look.

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The Following User Says Thank You to DDAY For This Useful Post:
seher bano (Monday, December 31, 2012)