Cash flow statement - indirect method

answered on 26-Nov-21 14:15

For example, if the company X Ltd. Sells and buys the land and property in the ordinary course of business. For that company, do we need to subtract profit on sale of land and property from profit before tax? Or Do we need to add loss on sale of land and property to profit before tax? While preparing cash flow from operating activities

latest answer

It is inventory in such a case and no adjustment is needed in operating activity

Sai Eswar Kolli

CA Final

★ 27K+

1

294

Branch accounts

answered on 26-Nov-21 14:23

How to account "Scrap value realised in case of Normal loss" in stock & debtors system?

latest answer

IS this query in reference to branch accounts?

Girinath A

CA Inter

★ 765

1

286

Schedule 3 format

answered on 26-Nov-21 14:24

Sir give some tips to present Speedly and effectiently the financial statement as per schedule 3 format Sholud i start to present p&l , balance sheet , notes to accounts at a time or present separately. Which one is efficient to do to save time ?

latest answer

Try simultaneously, it saves time but should be careful in not missing out entry in either of the statements.

Balaji R

CA Final

★ 20K+

2

340

Investment

answered on 25-Nov-21 11:32

why for interim dividend bonus & right shares also calculated for dividend but not for final dividend pls explain sir /mam

latest answer

It depends on info given in question

Chandramouli A

CA Inter

★ 720

1

263

Rectification of Errors

answered on 27-Nov-21 20:54

Are all my four entries correct ? What will be the narration for the third entry ?

latest answer

Can you please send the pictures of entire question?

Aditya Birla

CBSE XI

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15

470

Consolidation

answered on 30-Nov-21 12:06

In balance sheet of banking company Under which head preliminary expense has to be shown (If not written off). (ie. Capital expenditure)

latest answer

Oh Thank you so much Sir!

Pradeep Ravikumar

CA Final

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2

326

Rectification of Errors

asked on 24-Nov-21 13:02

Are all my entries correct ? What will be the narration for the third entry ?

latest answer

No answers yet!!

Aditya Birla

CBSE XI

★ 4K+

0

351

ACC

answered on 24-Nov-21 12:51

can any one explain the meaning of provision and contingent liability in laymans language pls and what is the differnce between of both of them pls any.... one help

latest answer

in laymen language provision means jo tum assume krke chaltey ho ki in future tumhe itna loss ho jaeyga. for example: tumahri ek t-shirt ki shop h or tumne na kc t-shirt credit pr sale kr rkhi h pr ab tumhe lgta h ki unme se kc log syd pese na de to tum pehle se hi assume krke chlte ho ki tumhara ye loss ho skta h to tum kc pesa set aside kr lete ho ....... whereas contingent liability will depend on certain circumstances.....for example: tumhara ek frnd h tumne usko building rehne ke liye bss yu hi de rkhi thi ab vo kya krta h kbja kr leta h us pr or tum jakr kr case file kr dete ho.....ab yha ye to certain nhi h na ki tum hi case jeet jaoge....kya pta uska layer ache nikal jaye ya anything (means not certain) to yani us past ke event pr tumhari liability future me court ke order ane pr create ho jaye.....to ye contingent liability hogi

Bala Chandar

CA Inter

★ 5K+

7

332

Rectification of Errors

answered on 24-Nov-21 12:42

Are all my entries correct ?

latest answer

All correct

Aditya Birla

CBSE XI

★ 4K+

1

342

Self balancing ledger

answered on 25-Nov-21 14:28

In this question why taking e 's in c/d (22000+216000-7500-225000-11200)=5700?

latest answer

Since included in all balances, the net is taken

Raashi 14

CMA Inter

★ 330

2

424