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Managerial remuneration under section 197
Accountancy
answered on 07-Oct-22 14:06
As per companies act 2013 section 197 describes about the managerial remuneration which means salary payable to the key managerial persons The managerial remuneration should not exceed the 11% of net profits ( if they wants to increase hair percentage means they should receive the permission from central government by passing the special resolution) 11% does not exceed is main. If one whole time director , managing director and manager means not exceeding of 5% if one more whole time director managing director and manager means not exceeding of 10% (more persons) If the company does not have full time managing director whole time director means 3% of net profits.. if the companies does not have managing director whole time director or manager 1% of net profits please kindly check whether I mentioned correct not if there is any mistake please clarify me
latest answer
It's okay bro.
MPR Sanjay Kumar
CA Inter
★ 525
3
1K+
Difference btw bills payable book and purchase book
Accountancy
answered on 10-Oct-22 12:09
Difference btw bills payable book and purchase book through question and solution
latest answer
At the time of purchase itself if a bill is accepted by the buyer.
Gothrough This
CA Foundation
★ 445
5
472
Redemption of debentures
Accountancy
answered on 10-Oct-22 12:33
In illustration 7 what happens to 13.5%interest on debentures . It has not been charged to p&l or adjusted against bank balance.
latest answer
If I give you a balance sheet on 30th June, it implies that all interest accrual and payment are completed unless it is mentioned that the interest is not booked or there is an interest payable in the balance sheet.
Jayanth
CA Final
★ 6K+
5
615
Question Practice
Accountancy
answered on 10-Oct-22 11:58
Accounting practice book if any please suggest. As the Icai module contains very less number of questions. Any book for further practice in Accounting Paper 1 ?
latest answer
Study material + RTP + Past papers. Then look at other sources.
Ardhendu Sekhar Acharya
CMA Inter
★ 250
12
692
Amalgamation
Accountancy
answered on 10-Oct-22 12:36
Which one shall be taken for purchase consideration.
latest answer
S sir understood,thanks sir
Saravanan Murugan
CA Final
★ 19K+
7
612
Amalgamation chapter - journal entry
Accountancy
answered on 07-Oct-22 11:16
ii) debentures point journal entry for both illustration 1 and 2 of amalgamation chapter
latest answer
Tq debentures entry not needed bcz of purchase consideration computation but i thought of knowing it
Sai Swetha
CA Final
★ 7K+
3
531
Hire Purchase
Accountancy
answered on 10-Oct-22 15:25
It is written in the ICAI module that Hire purchase is governed by Hire Purchase Act 1972. But the Hire Purchase Act was repealed in 2005. how can it be a governing law?
latest answer
Okey sir!
Jitendra Kumar
CA Final
★ 41K+
2
497
Final accounts
Accountancy
answered on 08-Oct-22 08:38
Opening stock - â?¹ 150500 Purchases - â?¹437000 Manufacturing Expenses - â?¹ 85000 Expenses on Sales - â?¹ 33000 Sales - â?¹ 625000 Additional information: During the year damaged goods costing â?¹12000 sold for â?¹5000 . Barring the above transaction the gross profit has been @20% on Sales. Prepare trading a/c To find closing stock .
latest answer
625000-33000=592000 12000-5000= 7000 592000-7000= 585000 20% of 585000= 117000
Tanya
CA Inter
★ 6K+
6
466
Provision
Accountancy
answered on 10-Oct-22 12:32
What is the difference in the given provisions Voting - 74% Share - 26%
latest answer
old provision.
venkatesh sundharamoorthy
CA Final
★ 34K+
3
464
Subsidiary Books
Accountancy
answered on 08-Oct-22 17:15
Can please anybody check and tell me Is this format of table correct as per Icai format ?
latest answer
Thank you
Ardhendu Sekhar Acharya
CMA Inter
★ 250
23
601