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reduced cost approach
Accountancy
asked 1 day ago
If I am using a reduced cost approach for a non-depreciable fixed asset, and there exist conditions for the grant that will be fulfilled only later, then when should I reduce the cost of the fixed asset by the grant value - at the time of receipt or at the time when all the conditions are met [Video Time Stamp: 05:48]
latest answer
No answers yet!!
Rithu V
CA Inter
★ 1K+
0
6
Disclosure
Accountancy
answered 2 days ago
There is a doubt if we don't show the income or expenditure below 1 lakh or 1% of the revenue whichever is higher. Then doesn't that affect our profit & loss a/c if we don't show the immaterial things then should we not consider the immaterial things as expenses or income.
latest answer
We will show all income and expenses. They will be clubbed as other expenses and separate disclosure is not required.
Snehashis Mohanty
CA Inter
★ 35
1
17
Asset
Accountancy
answered on 30-Oct-25 22:46
Is cash is a fixed asset or current asset [Video Time Stamp: 06:07]
latest answer
Current asset
Sai Kasani
CA Foundation
★ 0
1
23
government grants
Accountancy
answered on 01-Nov-25 19:08
the question provides "How the refund of the grant is dealt with in the books of Mac Ltd. assuming that the company did not charge any depreciation for the year 2019-20", in this case there's no need to provide depreciation for 2 months right? when the question explicitly provides to assume no depreciation charged, assuming depreciation charged for 2 months will be wrong right?
latest answer
That is for the student to compute depreciation for 2 months and pass journal entries for 2019-20.
Ritu Kotian
CA Inter
★ 11K+
5
40
Intangible assets
Accountancy
answered on 30-Oct-25 09:54
In this question, when they say company follows an accounting policy to amortise on SLM over “maximum period permitted by AS” do they mean 10 years or as mentioned in the question
latest answer
If useful life is less than 10, take actual useful life.
Ritu Kotian
CA Inter
★ 11K+
1
13
Financial statements illustration 3
Accountancy
answered on 27-Oct-25 18:10
Sir in this question other current liabilities is 67,500₹ in video but in TB it is 1,07,280₹ sir.. [Video Time Stamp: 20:05]
latest answer
Achha tq sir
Bhavani Hadpad
CA Inter
★ 4K+
2
26
P&l
Accountancy
answered on 27-Oct-25 09:38
Can anyone explain me the p&L Item Changes in inventory. Of P&l item with simple example
latest answer
Raw material consumed is Opening stock of RM + Purchases of RM - Closing stock of RM. (Basically coming from Manufacturing account) Changes in inventory is used for finished goods.
Snehashis Mohanty
CA Inter
★ 35
5
35
MAT
Accountancy
answered on 26-Oct-25 09:35
How to know when the Mat is Applicable?
latest answer
Only when you compute you will know
Snehashis Mohanty
CA Inter
★ 35
3
25
WIP
Accountancy
answered on 27-Oct-25 09:27
C an anyone give me a simple example of this WIP?
latest answer
WIP is valued at cost using costing principles.
Snehashis Mohanty
CA Inter
★ 35
3
34
Consolidated Financial Statements
Accountancy
answered on 24-Oct-25 14:35
#3. Question |September 2024 Exam, 14 marks | pg. no 31.6 in compiler please explain (4) Goodwill/Capital Reserve on the acquisition of Cool Ltd.'s shares
latest answer
PFA
Ritu Kotian
CA Inter
★ 11K+
1
30