Adv accs

answered on 08-Aug-23 17:55

In the image below while calculating revaluation Reserve why are we discounting 55%.... Remove Why can't we take any other % like 40% or 50%.... Is there is any specific reason to take 55% if yes... Explain with logic....

latest answer

Ok sir

Balachandar S

CA Inter

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301

Banking co

answered on 06-Aug-23 08:29

In the question below I attached the answer... I understand the question except Which is 11,485 amounts, which is there in the Sch- 13.... I.e interest and discount....... Amt...... How 11,485 Rs can anyone explain with logic i attached with an answer for reference.... Kindly tell me pls

latest answer

Adjusted means subtracted. So, we are adding back.

Balachandar S

CA Inter

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Kindly help me with this sum....

answered on 06-Aug-23 07:54

In the question below I attached the answer... I understand the question except Which is 11,485 amounts, which is there in the Sch- 13.... I.e interest and discount....... Amt...... How 11,485 Rs can anyone explain with logic i attached with an answer for reference.... Thanks in advance 😄

latest answer

In the given question, it is given that some of the items are already adjusted with "interest and discount". So, we should add back the non-relevant items to "interest and discount". Interest and discount = 10,225 (given) + 740 (Tax provision) + 460 (Provision for doubtful debts) + 60 (Loss in sale of investments) = 11,485

Balachandar S

CA Inter

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270

ECGC. / DICGC

answered on 05-Aug-23 20:59

Could any one explain to me that 4.3.1 in simple terms... Pls...

latest answer

Thanks JK Well understood 🙂

Balachandar S

CA Inter

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358

Buy Back Of Shares

answered on 12-Aug-23 15:32

Can Premium on buy back be absorbed by general reserve

latest answer

Yes, a company's premium on buyback can potentially be absorbed by its general reserve, depending on the applicable accounting and legal regulations. However, it's important to consult with financial and legal experts to ensure compliance with relevant laws and standards before making such a decision

Jayanth

CA Final

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7

257

As 2

answered on 12-Aug-23 15:39

Why exchange difference is not included in inventory cost?

latest answer

Exchange differences are typically not included in inventory cost because they represent fluctuations in currency exchange rates and do not directly relate to the actual cost of acquiring or producing inventory items. Including exchange differences in inventory cost could distort the accurate valuation of inventory and make it challenging to compare costs across different time periods or entities. Instead, exchange differences are often recognized as gains or losses in the income statement or other financial reporting sections, reflecting the impact of currency fluctuations on the company's financial performance

N.Gokulnath

CA Inter

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3

287

Consolidation of Balance sheet

answered on 03-Aug-23 09:11

This adjustment has no impact on the balance sheet? Why? Holding - white ltd Subsidary - Black ltd

latest answer

What is the carrying amount?

Ashfaq Ahmed

CA Inter

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334

Investment acc EASY

answered on 03-Aug-23 09:13

In this sum, Interim dividend paid on 15/01/22, but it is for period from beginning of financial year till 15/01/22 OR for full year 2021-22 Because they said interim dividend FOR THE YEAR 2021-22, it means for 1/04/21 till 31/03/21 Or For the period 1/04/21 till 15/01/22 Clarify

latest answer

It is for the FY paid during an interim date.

Krishnan K

CA Inter

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261

AS 19

answered on 04-Aug-23 20:51

Difference between loan and financial lease?

latest answer

No

N.Gokulnath

CA Inter

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5

249

As17 segment reporting

answered on 04-Aug-23 17:51

What if segment reportable in preceding period because of management discretion,now in current period whether we need to report?? Because in book they only mentioned 10% threshold only

latest answer

Not required.

Krishnan K

CA Inter

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6

271