Indirect Tax Professionals Required

Urgently looking for Indirect Tax Professionals for Manesar (Gurgaon) with one of the Estemeed Client Agilent Technologies (www.agilent.com )

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Bank reconciliation statement-Exercise

Exercise:

Prepare Bank reconciliation statement (BRS) for M/S.ABC Company on 31/12/2011

1. M/S.ABC Company received Cheque on 21/12/2011from Mr.X.Ch.No.123456,Amount-$10,000/-Deposited in bank same day but credited on 05/01/2012.

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Bank Reconciliation statement proforma 2

2. On the basis of Pass book balance

Here available Bank reconciliation statement proforma 2.

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Bank Reconciliation statement proforma 1

Bank Reconciliation statement Proformas

There are two types of proformas.

1. On the basis of Cash book balance

2. On the basis of pass book balance

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Bank Reconciliation Statement explanation

Explanation

Now a days every organization doing their activities (Receipts and payments) through banks. Every Organization maintain one general ledger for recording of banking activities called cash book Bank issued pass book or bank statement to organization, purpose of transactions information and balance confirmation.

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Define Accounting systems

Accounting Definition

“The systematic recording, reporting and analysis of daily financial transactions of a business” called Accounting.

Accounting Systems

There are two types of accounting systems.1) Single Entry system. 2) Double Entry system.

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Branches of Accounting

Accounting Definition

“A systematic record of the daily financial events of a business leading to presentation of a complete financial picture is known as accounting”

Accounting has been divided into three branches, financial accounting, cost accounting, and management accounting and each branch of accounting is inter – related with other branch. No one

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Income Tax Return forms For A.Y.2012-13(F.Y.2011-12)

Income Tax Return forms for assessment year 2012-13 (F.Y.2011-12) has been released by Income Tax department.ITR-1 (Sahaj) ,ITR-2 ,ITR-3, ITR-4 and ITR-4S( sugam) already released .Now ITR-5 and ITR-6 also released. Total Income Tax return forms given below for download with instructions.

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Income Tax returns E.Filing Mandatory from A.Y.2012-13

E.Filing has been made Mandatory for Individual and Hindu undivided family (HUF), if their Income Exceeds 10, 00,000/-It will effect from A.Y 2012-13(F.Y.2011-12).

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