Accounting standards

answered on 25-Jul-23 12:50

Can anyone share your accounting standards summary /short notes

latest answer

Download from free resources.

Nainika Tummala

CA Inter

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7

299

Redemption of preference shares

answered on 21-Jul-23 16:46

1)It is given in question, that investments are sold to meet cash requirements of redemption...then, why entire 1lakh is transferred to CRR rather than using proceeds of investment, I thought only 20000 should be transferred to CRR...which one is correct? 2) here, premium on redemption is adjusted towards general reserve,can it be adjusted towards p and l too?

latest answer

Ok, thanks got it

Yamuna S

CA Inter

★ 15K+

3

279

Inventory valuation

answered on 21-Jul-23 13:33

Does damaged inventory is record at nrv ( at rs 0 ) or a journal entry is passed to write off it

latest answer

The stock will be incorporate at 0 in closing stock.

Atharv Sankliya

CA Final

★ 3K+

1

256

Prefernce share

answered on 21-Jul-23 13:35

Why premium is given to denture holders

latest answer

Thank you sir

Prasanth Kumar

CA Inter

★ 13K+

4

264

Diluted EPS

answered on 19-Jul-23 15:53

whenever we consider savings in case of adjusted Earnings available for equity holders for calculating diluted EPS we consider that as savings. for example if convertible deb is to be converted after 5years. Then interest expense will be there over 5 years right. How can we take it as savings.

latest answer

responded above. If its converted, there would not be any interest outflow.

Sugam SM

CA Foundation

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4

287

General

answered on 19-Jul-23 13:03

Is it necessary to write narrations in journal entries especially when the paper is lengthy In may 2023 attempt in knew all questions but was able to attempt for 60 marks. How could I do better in nov 2023 exams

latest answer

👍

Prasanth Kumar

CA Inter

★ 13K+

6

294

Bonus issue

answered on 19-Jul-23 12:37

Can securities premium collected not through cash be used to issue bonus shares?

latest answer

And yes, Here for a listed company - SEBI is a regulatory authority, on which company needs to be compliant with some norms of SEBI, so additionally listed company needs to follow SEBI rules, so Listed company cannot utilise securities premium not collected in cash for issuing bonus shares. But other companies can issue because they aren't listed so there will be no SEBI BOSS 😎😎, So they can issue.

Devika Das

CA Inter

★ 2K+

3

268

Banking company

answered on 16-Jul-23 16:20

What is the type of question (concept) frequently asking in Banking company chapter

latest answer

Thanks

Ashfaq Ahmed

CA Final

★ 24K+

7

296

Ca foundation

answered on 17-Jul-23 08:00

Ca foundation ke liye timing slot kaya hoona chaiye

latest answer

Its more appropriate to read difficult subject at morning Timings slot depends upon you as per your convenience It may be happens that you have a late night person So you can create your study schedule accordingly

Keshav Maheshwari

CA Foundation

★ 1K+

4

323

Amalgamation in the nature of merger

answered on 17-Jul-23 15:41

Can you explain why General Reserves are considered for incorporation of assets in Amalgamation in the Nature of Merger and not in the Nature of Purchase??

latest answer

In the case of amalgamation in nature of merger, since the ownership remains substantially impact, reserves are incorporated.

Hisham Kizer

CA Inter

★ 0

1

339