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How can we identify between principle error and error of commission.
Accountancy
answered on 26-Nov-22 14:39
How can we identify between principle error and error of commission. Because a mistake in accounting can occur either due lack of knowledge or it might be a mistake in the part of accountant.
latest answer
An "error of commission" occurs when an accountant enters a correct figure but in a false subsidiary account of the same type. An error of principle occurs when an accountant enters a correct number into the wrong account, typically one for capital or revenue.
Dova Shaji
CA Inter
★ 520
1
733
Insurance claim
Accountancy
answered on 26-Nov-22 07:25
Solution
latest answer
Question is not clear. Also what is the doubt?
Mr B
CMA Inter
★ 0
1
402
Can anyone solve this
Accountancy
answered on 25-Nov-22 13:15
Insurance claim
latest answer
Seems emoji is not supported in this forum... Any way... You're welcome
Mr B
CMA Inter
★ 0
4
486
BRS
Accountancy
answered on 24-Nov-22 19:01
Should we prepare adjusted cash book for this ? Or just BRS will be enough ? What if I get same answer in both cases?
latest answer
The question has clearly asked only for BRS
sradha krishna sunil
CA Final
★ 5K+
5
596
3 tests for buyback
Accountancy
answered on 23-Nov-22 19:01
Just a quick question. In the attached problem, the securities are bought back at Rs.30. Rs.10 is F.V and the rest is premium on bb. While calculating the third test we are allowed Rs 150cr to buy back, but Sir is splitting this between CRR creation and buyback as a total of Rs. 40 for one share. So if we are allotting Rs.10 to CRR the rest for bb should be Rs.20 right? Why is he taking it as Rs. 30 for bb and Rs.10 for CRR?
latest answer
30 - Buy back value 10 reduces share capital 20 reduces reserves And further 10 is transferred from free reserves to CRR
Sri Murthy
CMA Inter
★ 0
2
989
Liquidation of companies
Accountancy
answered on 23-Nov-22 00:15
Can anyone tell me how to solve this sum using sathyaragu sir method. He asked us to find rate per share Iam not getting the correct answer
latest answer
CONVERT SHARES INTO Equivalent SHARES BY SELECTING A FV AS BASE AND THEN SOLVE
vs navin
CA Final
★ 1K+
5
396
Liquidation of companies
Accountancy
answered on 21-Nov-22 22:46
In illus 2, how this balance of unsecured creditor 25000 came?
latest answer
Amount realized is 100000 Secured creditors is 125000 Unsecured creditors= 125000â??100000=25000
vs navin
CA Final
★ 1K+
1
470
ACC
Accountancy
answered on 22-Nov-22 20:49
Is that backward account current is very important for examination point of view pls so that i can prepare right now Boz i don't learn this topic.... Till now.... Someone's suggest me.
latest answer
Okay
Balachandar S
CA Inter
★ 59K+
7
514
Valuation of Goodwill
Accountancy
answered on 22-Nov-22 13:58
Can anyone explain why is loss by fire added to the profit in the below image ...
latest answer
FOR GOODWILL CALCULATION WE SHD EXCLUDE ABNORMAL GAINS OR LOSSES
Jahnavi Jaijapuram
CA Foundation
★ 6K+
8
530
Capital Redemption Reserve
Accountancy
answered on 22-Nov-22 14:01
Hello all, here's something I need some clarification on; in buying back shares, there are two ways to do it, fresh issue and thru the CRR creation. The extent to which CRR can be created = F.v of the shares bought back - F.V of the shares issued for such buy back.( This is not referring to fresh issues right? Otherwise there is no reason for CRR ) What does the second part of the above formula reference to?
latest answer
Okay
Sri Murthy
CMA Inter
★ 0
4
609