Be Successful

successful-mindset

Be  Successful

For getting success you need to raise your standards and avoid being a useless slob. The best way to get success is to force yourself to become conscious of your standards, and then to redefine them. There are many useless slob in this world so don’t be one of them. To become successful you need to raise your slandered

Check out following ways to get shiny side of your life

1 Raise your slandered

You need to write down your current standards. Always think about it and make best try to achieve it once you achieve those slandered .Make a slightly higher standard and feel these process continued

2 Increase your confidence by taking action.

Successful people are more confident   because success is just as dependent on confidence as it is on competence. Do not feel rejected if you do not have desired result instead of it you need to keep trying and do hard work and have confidence. Ultimately you will get success

3 Increase your skill

Always try to lean new and innovative things. Always get updated. A research shows that successful people excel in both cognitive ability and social skills

4 Come out of your Comfort Zone

Remember one thing that real magic is done out of your comfortzone.Those people can’t go outside because they are scared it’s not safe ,its not rewarding etc.But continually doing uncomfortable work  is a critical component of sucess.We know that It’s hard to change your ways or live life differently but I have already said that real magic is done out of your comfort zone

5 Make challenges as opportunity

Understand that failure is not dead end but always keep hoping and trying. Remember that there is always one door open when rest of door are closed. Always try to come out with  creative solutions in your problem

 

 

 

 

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Cost sheet Format

Cost Sheet

 Cost sheet Format

What is cost sheet: Cost Sheet is A statement which provides breakup of costs for a particular accounting period or for particular product.

First of we will look at the classification of Cost: Manufacturing

Basically cost of product  can classify in to  three elements

a) Materials b) Labor c) Expenses

Other way of classification of the cost

(1)    Product costs = costs of manufacturing our products; or

(2)   Period costs =costs other than product costs that are charged to, debited

(1)  The classification of Product costs

Direct costs

Indirect Costs

(2) The classification of Period Costs:

Administration Costs

Finance Costs

Basic format of cost sheet is as follow 

                                                                   COST SHEET – FORMAT

Particulars Amount Amount
Opening Stock of Raw Material

Add: Purchase of Raw materials

Add: Purchase Expenses

Less: Closing stock of Raw Materials          

Raw Materials Consumed

Direct Wages (Labor)

Direct Charges

  ***

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***

 

 

 

 

 

 

 

Prime cost (1) ***
Add :- Factory Over Heads:

Factory Rent

Factory Power

Indirect Material

Indirect Wages                                                  Supervisor Salary

Drawing Office Salary

Factory Insurance

Factory Asset Depreciation

 

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***

***

Works cost Incurred ***
Add: Opening Stock of WIP

Less: Closing Stock of WIP                                           

***

***

Works cost (2) ***
Add:- Administration Over Heads:-

Office Rent

Asset Depreciation

General Charges

Audit Fees

Bank Charges

Counting house Salary

Other Office Expenses

 

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Cost of Production (3) ***
Add: Opening stock of Finished Goods

Less: Closing stock of Finished Goods                         

***

***

Cost of Goods Sold ***
Add:- Selling and Distribution OH:-

Sales man Commission

Sales man salary

Traveling Expenses

Advertisement

Delivery man expenses

Sales Tax

Bad Debts

 

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***

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***

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Cost of Sales (5) ***
Profit (balancing figure)                                                ***
Sales ***

 

 

 

 

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TDS rate chart for FY 2016-2017

tds (1)

TDS means Tax Deducted at sources.TDS is indirect Tax. It is managed by the Central Board of Direct taxes (CBDT).It is way of collection of taxes at the time of making the specific nature payment to the other person and deducted amount is remitted to the Government Account

The person who deduct the TDS at the time of making the payment is called as the Deductor and the other person whose payment is getting deducted is called the Deductee.

TDS types and rate

TDS is calculated on the basis of threshold limit, means if any time that limits are crossed the TDS will be deducted from future income/payments.TDS percentage may vary from 1% to 30%.

TDS rate Chart for the Financial year 2016-2017/ Assessment Year 2017-2018

Section Nature of income When to
deduct
TDS Rate
(Individual/HUF)
If no PAN then TDS rates
192 Salary Income tax
slab
Slab Rate 30%
192 A Employer Providend Fund- Premature
withdrawal
Rs.50,000 10% 20%
193 Interest on securities Rs10,000 10% 20%
193 Interest on Debenture Rs5,000 10% 20%
194 Dividend N.A. 10% 20%
194A  Interest other than Interest on Securities Rs10,000 10% 20%
194B Winning from Lotteries & Puzzles Rs10,000 30% 30%
194BB Winning from Hoarse race Rs10,000 30% 30%
194C Payment to Contractors-(Aggregate
during the Financial Yea)
Rs 15,000 10% 20%
194 D Payment of insurance commission Rs 15,000 5% 20%
194DA Payment  of Life insurance Policy Rs 1,00,000 1% 20%
194H Commission & Brokerage Rs 15,000 5% 20%
194Ib Rent – Land & Building Rs 1,80,000 10% 20%
194la Rent – Plant & Machinery Rs 1,80,000 2% 20%
194J Professional Fees & Technical Services Rs 30,000 10% 20%
194IA  Immovable Property other than
Agricultural Land
Rs 50,00,000 1% 20%
19LB Interest From infrastructure bond N.A. 5% 20%

 

Views : 1090