Forums
Inventory account
Accountancy
answered on 07-Feb-26 12:11
Sir, my understanding is that cogs is an expense we that we incurred to produce goods if it’s increasing it’s a debit , in that case why is it appearing on credit side on the stock account , and similarly closing stock is an asset why is that appearing on credit side [Video Time Stamp: 02:50]
latest answer
Entry is Closing Stock Ac Dr To trading account
Aravind V
CA Foundation
★ 0
1
116
Inventory valuation
Accountancy
answered on 07-Feb-26 05:47
Sir the reason as to why we measure inventory at lower of cost or nrv is due to conservatism principle, is my understanding correct about this .
latest answer
Yes. Or prudence
Aravind V
CA Foundation
★ 0
1
91
Trial balance closing stock
Accountancy
answered on 04-Feb-26 06:46
Sir could please clarify the concept of closing reflected in tb and outside tb.
latest answer
Thank you sir
Aravind V
CA Foundation
★ 0
2
204
Trial balance suspense account concept
Accountancy
answered on 02-Mar-26 21:06
When tb doesn’t tally ,we move it to suspense account. So do we proceed with p&l and balance sheet preparation or we need to first identify why there’s a difference in tb and pass rectification entry and then proceed with p&l and bs preparation
latest answer
Thank you sir
Aravind V
CA Foundation
★ 0
2
217
Ledger
Accountancy
answered on 02-Mar-26 21:15
For closing expenses, when we transfer to p&l do we need to pass an entry [Video Time Stamp: 05:33]
latest answer
Thank you sir
Aravind V
CA Foundation
★ 0
2
116
Treatment of Empty bottles as Inventory
Accountancy
answered on 13-Apr-26 16:31
Sir, The Co.(Alpha Ltd.) Deals with sale of Flavoured milk, How can we consider Empty bottles in the inventory?? Of course we may have maintained separate account for them as its also An Asset, But How can it be treated as inventory??
latest answer
Ok thankyou
Jagadeesh Jaidev
CA Inter
★ 645
4
281
Subsidiary books
Accountancy
answered on 09-Feb-26 17:24
Does subsidiary books and subsidiary ledger mean the same [Video Time Stamp: 00:28]
latest answer
welcome
Aravind V
CA Foundation
★ 0
4
132
AS 2
Accountancy
answered on 29-Jan-26 16:31
Sir, In almost every solution, Some descriptive answer is being written which begins with"As per AS 2.....". But most of them are not given in the concept book. What should we write?? Is it mandatory?? Where shall we refer for these explainations. Should I just practice whats been covered in the Questions of the Questions bank??
latest answer
Ok sir, Thanks a lot
Jagadeesh Jaidev
CA Inter
★ 645
4
168
Syllabus sequence
Accountancy
answered on 23-Jan-26 18:39
Sir, In ICAI Syllabus, Accounting standards are been listed and grouped under specific chapters like asset based AS's like that. Should we have to study in that sequence or As per sequence of your study material.
latest answer
Ok sir. Thank you
Jagadeesh Jaidev
CA Inter
★ 645
2
142
Adjustment of pre acquisition dividend
Accountancy
answered on 27-Jan-26 11:20
Why are we subtracting the dividend from inv a/c?
latest answer
When you buy shares, you are paying for accumulated net worth (paid up capital and reserves of the company) and of course future prospects. Now, if the company later gives you dividend out of those old profits, you are not earning anything new. You are only getting back a part of the money you paid to buy the shares. So its like a return of capital and not return on capital .
Rithu V
CA Inter
★ 7K+
1
137