Accounting for live stock

answered on 20-Mar-23 09:52

Does live stock(like cow,hen,sheep for wool,milk etc) is included in the scope of AS-10

latest answer

For e.g if dog is used for security purpose. It will be classified as PPE since not used for Agricultural activity.

Atharv Sankliya

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274

Cash and cash equivalents -Short term bank deposit

answered on 18-Mar-23 00:47

Does short term bank deposit (2-3 months ) considered as cash and cash equivalents or current investment because it is also qualifying the defination of investment as per AS-13

latest answer

Yes it is investment as per AS 13 & AS 3. It acnnot be treat it as cash equivalents because it is a uncertainity thing when it is encashed.

Atharv Sankliya

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206

Disclosure in P/L a/c

answered on 20-Mar-23 09:52

Why we disclose gain or loss in P/L a/c ,if the fixed asset sold? Because it is capital nature.

latest answer

But it represents profit earned by the enterprise.

Kamal Kumar

CA Inter

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1

225

Trading of agricultural products

answered on 20-Mar-23 09:53

Does trading of agricultural, livestock and forest products are included in the scope of AS-2 ?

latest answer

If the business is purchase and sales then they are not producers. Hence AS-2 is applicable.

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270

Consolidation

answered on 20-Mar-23 09:53

Can anyone send me the Analysis of profit for this sum?

latest answer

Which part in AOP are you finding difficulty.

Naveen Vs

CA Inter

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1

242

Departmental account

answered on 20-Mar-23 09:54

Can anyone solve this

latest answer

What is your doubt in the question/

Rifhat Khan

CA Inter

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1

242

Investment is valued at global basis or individual basis

answered on 17-Mar-23 14:55

Investment in share of particular company purchase at different prices are valued on which basis - global or individual

latest answer

Ok sir

Atharv Sankliya

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2

257

Material used in rendering service

answered on 17-Mar-23 15:14

Does material used in rendering service are considered as inventory

latest answer

Yes

Atharv Sankliya

CA Final

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231

Sugar cane as a inventory

answered on 17-Mar-23 15:16

Does sugar cane plant is considered as inventory or PPE

latest answer

Yes.

Atharv Sankliya

CA Final

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3

335

Purchases

answered on 20-Mar-23 09:54

If the question asked to fimd out credit purchase then, I've to calculate on total purchase including purchase returns or not?

latest answer

Gross purchases is without giving impact of purchase returns.

Kamal Kumar

CA Inter

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5

268