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Accounting fundamentals
Accountancy
answered on 04-Aug-25 12:36
Equation of purchase, direct expenses, closing stock, opening stock
latest answer
What is your query?
Nandhana
CMA Inter
★ 0
2
92
Will a question from this topic really be this complicated?
Accountancy
answered on 01-Aug-25 09:55
Sir, just for my convenience purposes, do we really need this in-depth understanding of this topic for exam purposes or is this just for understanding? Because there is no numerical like this in textbook actually.
latest answer
ok sir. thank you.
Rahul Anand
CA Inter
★ 6K+
2
129
AS 2
Accountancy
answered on 31-Jul-25 09:34
This MCQ was marked wrong. There was no explanation below for the concept. Is it right or wrong?
latest answer
Administration overheads are not included in inventory valuation because they are not directly related to the production or purchase of inventory items. These costs, such as salaries of management or office supplies, should be expensed separately and not included in the cost of goods sold. Including administration overheads in inventory calculations can artificially inflate the cost of goods sold and misrepresent the true cost of producing goods.
Rahul Anand
CA Inter
★ 6K+
2
144
As 4
Accountancy
answered on 01-Aug-25 16:58
Is it a adjusting event or non adjusting event ? Reason ?
latest answer
Reason - substantial part of transaction is completed. Only formality of registration is pending. Substance over form.
Sri ram Pothineni
CA Inter
★ 11K+
3
105
Question
Accountancy
answered on 02-Aug-25 16:04
In the Plymouth LTD Illustration, the amount of 0.42L which is to be charged off to P&L A/C, can we call such amount as IMPAIRMENT LOSS? PLEASE EXPLAIN
latest answer
Thankyou Sir
Mohamed Kaiz
CA Inter
★ 2K+
2
98
Introduction to partnership accounts Calculation of effective capital
Accountancy
answered on 01-Aug-25 17:02
Calculation of effective capital in icai study material and my way both are different but the process is the same Will icai give full marks for my answer for format I followed to calculate effective capital I have shown in my format how capital has been changed by additional capital and drawing of partner
latest answer
If the final answer is same, you will get marks.
Gurukanta Singh
CA Foundation
★ 19K+
1
236
Final accounts of sole proprietorship
Accountancy
answered on 21-Jul-25 15:34
It looks like there has been an error in pl which has been revised Sir has seen that Prepaid insurance is an asset which has been treated as revenue by putting it in the credit side of the pl account The prepaid insurance is to be deducted from profit not to be added
latest answer
Whether you deduct from expense side or add to income side, the final impact is same.
Gurukanta Singh
CA Foundation
★ 19K+
4
150
Rectification of error (one sided error)
Accountancy
answered on 14-Jul-25 22:18
In a previous illustration, i.e. Illustration 1 in this video course series, one sided error has been rectified by making a note. Whereas, in this Illustration 3, a similar one sided error has been rectified by debiting suspense a/c. Please explain the difference between the two cases?
latest answer
Before and after preparation of trial balance
Albert P
CA Foundation
★ 420
1
195
How to give answer properly in CA exams as per ICAI expectations
Accountancy
answered on 13-Jul-25 12:12
Dear toppers / students and mentors Please tell how to answer icai expectations point of you for case study accounting Income Tax sums and also theoretical paper so could you please give me the guidance how to exposing answer sheet Because I attend four attmepts still not clear thars why Iam writing but marks not So please explain
latest answer
Thanks 👍 friend from tamilnadu
MPR Sanjay Kumar
CA Inter
★ 530
2
187
About ammendment in syllabus
Accountancy
answered on 14-Jul-25 15:30
Is this the new topic added for CA foundation that is there for Inter syllabus
latest answer
Yes. In inter you have a full subject on GST.
Bhavagna reddy Puli
CA Foundation
★ 730
1
163