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June 19, 2012

Staff Accountablity by CBI

The Central Vigilance Commission has increased the threshold to Rs. 3 crore from Rs 1 crore for fraud cases to be reported to CBI by public sector banks.

 As per the revised structure, fraud of minimum Rs 3 crore and up to Rs. 15 crore has to be reported to the CBI's Anti-Corruption Branch (in case staff involvement is prima facie evident) and Economic Offences Wing (if staff involvement is prima facie not evident) respectively.
Case of Rs. 15 crore and above should be given to CBI's Banking Securities (BS) and Fraud Cell, officials said. 

The cases where the amount is less than Rs 3 crore should be reported to police, they said.

June 18, 2012

Wastage of Milk on Shivratri

Q:  ये शिव रात्रि पर जो तुम इतना दूध चढाते हो शिवलिंग पर, इससे अच्छा तो ये हो कि ये दूध जो बहकर नालियों में बर्बाद हो जाता है, उसकी बजाए गरीबों मे बाँट दिया जाना चाहिए। तुम्हारे शिव जी से ज्यादा उस दूध की जरुरत देश के गरीब लोगों को है। दूध बर्बाद करने की ये कैसी आस्था है ?

A : आयुर्वेद कहता है कि वात-पित्त-कफ इनके असंतुलन से बीमारियाँ होती हैं और फाल्गुन के महीने में वात की बीमारियाँ सबसे ज्यादा होती हैं। फाल्गुन के महीने में ऋतू परिवर्तन के कारण शरीर मे वात बढ़ता है। इस वात को कम करने के लिए क्या करना पड़ता है ?
ऐसी चीज़ें नहीं खानी चाहिएं जिनसे वात बढे, इसलिए पत्ते वाली सब्जियां नहीं खानी चाहिए। 
और उस समय पशु क्या खाते हैं ?

Q:  क्या ?

A : सब घास और पत्तियां ही तो खाते हैं। इस कारण उनका दूध भी वात को बढाता है ! इसलिए आयुर्वेद कहता है कि फाल्गुन के महीने में (जब शिवरात्रि होती है) दूध नहीं पीना चाहिए, इसलिए फाल्गुन मास में जब हर जगह शिव रात्रि पर दूध चढ़ता था तो लोग समझ जाया करते थे कि इस महीने मे दूध विष के सामान है, स्वास्थ्य के लिए अच्छा नहीं है, इस समय दूध पिएंगे तो वाइरल इन्फेक्शन से बरसात की बीमारियाँ फैलेंगी और वो दूध नहीं पिया करते थे।
इस तरह हर जगह शिव रात्रि मनाने से पूरा देश वाइरल की बीमारियों से बच जाता था।

June 11, 2012

Depreciation from date assets are ready to use and not put to use..

Companies Act
As per Para 20 of AS 10 it is written that the cost of a fixed asset should comprise its purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

As per Para 3 of AS 16 A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use.

As per para 19 of AS 16 Capitalisation of borrowing costs should cease when substantially all the activities necessary to prepare the qualifying asset for its intended use or sale are complete.

Thus capitalisation stops when the asset is intended to be used, nowhere does AS 10 or AS 16 refer to date of use as cut of date for capitalisation. Both the AS are unanimous to stop capitalisation on date when the assets are ready for intended use.

But Capitalisation of exp and charging depreciation on assets are two separate things. For date from which depreciation is to be charged we would have to visit AS 6.

As per AS -6, Depreciation is a measure of the wearing out, consumption or other loss of value of a depreciable asset arising from use, effluxion of time or obsolescence through technology and market changes.

In other hand, Depreciable assets are assets which
(i) are expected to be used during more than one accounting period; and
(ii) have a limited useful life; and
(iii) are held by an enterprise for use in the production or supply of goods and services, for rental to others, or for administrative purposes and not for the purpose of sale in the ordinary course of business.

Thus depreciation should be charge according to AS-6 if it is ready for put to use in the business.

It has been observed by ICAI expert committee that:-
“Since according to accepted accounting principles, depreciation also arises out of efflux of time, it would be necessary for the purpose of section 205 to provide for depreciation even in respect of assets which are not in use during any financial year”
The Committee also notes that it has been decided by courts in certain cases  that as soon as an item of asset is installed and is ready for use, depreciation can be provided even though the said asset is not actually used for the whole or part of the relevant financial year.

Comanies Act Sec 350 – Ascertainment of depreciation.

The amount of depreciation to be deducted in pursuance of clause (k) of subsection
(4) of section 349 (Section 349 refers deductions to be made from revenue for arriving at net Profit) shall be the amount of depreciation on assets as shown by the books of the company at the end of the financial year expiring at the commencement of this Act or immediately thereafter and at the end of each subsequent financial year at the rate specified in Schedule XIV:

June 8, 2012

Inaam de ke..

Police wale ne carwale ko roka- "yeh suraksha week hai. Aap belt pehn
kar car chala rahe hain, isliye aapko Rs 5,000 ka inaam
dia jata hai. aap is inaam ka kya karoge ?"

car driver- "mein iss inaam se apna driving license banwaunga"

Sath wali seat par baithi uski Biwi boli- "inki bat ka yakin mat karo.
ye sharab pi kr kuch b bolte hain."

Pichli Seat se uske bache bole- "Hume pata tha ki chori ki car me
hm zyada dur nhi ja payenge."

Tabhi dikki se awaz ayi-
"Bhai appan border par kar lia  ?.........

June 5, 2012


A Bengali babu returns from China.

Bengali asks wife: Do I look like a foreigner ?

Wife: No.

Bengali: Look carefully, do I look like a foreigner ?

Wife again replies: No.

By now Mr Bengali was fuming.
Bengali yells: All those women in China were fools. Where ever I visited, they all said: "Look a foreigner"