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Cash flow statement doubt
Accountancy
answered on 11-Apr-25 19:53
Why is net profit assumed as profit after tax? Can we assume it the other way or is this only possible. Assumption
latest answer
Net profit as a standard convention refers to after tax unless its mentioned before tax.
Aswathy Omanakuttan
CA Inter
★ 0
2
243
Regarding matching concept
Accountancy
answered on 11-Apr-25 10:19
Sir if we buy a house in an accounting period and sell it in another accounting period how is this concept relevant?
latest answer
The matching concept is to match income and expenses/cost. When we buy a home in first year - we show it as an asset and not as expense. When we sell home in second year the sale value - cost price is recorded in P&L as gain. same way when we buy goods for sale - the unsold portion is shown as closing stock. and not as an expense. When we sell those goods, it gets expensed.
Samyuktha Prem
CA Inter
★ 3K+
1
301
Consolidated Financial Statements
Accountancy
answered on 10-Apr-25 16:41
Sir what if the subsidiary company's opening balance shows debit balance (loss), what to do in this situation sir? can we distribute this loss to holding and minority interest in pre-acquisition ? can this happen sir? sir i send one question in which opening balance of p&l has loss occured.
latest answer
The opening negative balance is used to compute goodwill or capital reserve.
39 - Sri Sankar G
CA Inter
★ 0
1
278
Financial statements of co
Accountancy
answered on 10-Apr-25 16:43
Why they didnt take food stuff in this adjustment of changes in inventories (illustration 4 of icai module).
latest answer
Even if you take in change of inventory final answer would be the same.
meghana karnakanti
CA Inter
★ 21K+
2
232
Joint and By Products
Accountancy
answered on 15-Apr-25 10:29
Sir here the processing cost is not given in the qtn.. is it printing mistake or is there any assumption for that..? 2nd query In the conversion cost of Bomex the per unit cost is solved as 350000/125000 = 2.8 but in the question it is only 12500 units Is this also a printing mistake?
latest answer
Notes is rectified.
susan kavumkal
CA Inter
★ 1K+
2
320
As11
Accountancy
answered on 09-Apr-25 12:25
Can a new company follow para 46 or para 46A ? Or can an existing company who followed this before can continue following ?
latest answer
Pls elaborate your query with dates.
Sushmita Chowdhury
CA Inter
★ 2K+
1
360
Financial statement PY question
Accountancy
answered on 09-Apr-25 09:15
Can you guyz please explain how credit sales ans total sales can be calculated from the given details 🤍
latest answer
Credit sales balance is for 1.5 months = 1,50,000. The total credit sales for 12 months will be = 1,50,000 / 1.5 X 12 = 12,00,000 Total sales = 12,00,000 + 20% cash sales = 12,00,000/80% X 100% = 15,00,000
Aswathy Omanakuttan
CA Inter
★ 0
1
240
CA INTER FAST TRACK BATCH MAY 2025
Accountancy
answered on 09-Apr-25 17:08
01 Hrs : 11 min Sir, goods in transit no entry needed, But in this question we made a JE, can you explain it little more?
latest answer
We will pass entry since it has to be shown as inventory and payable in branch books. HO would have already recorded dispatch entry.
G K
CA Inter
★ 13K+
1
312
Inventory valuation
Accountancy
answered on 07-Apr-25 10:01
How should this question be executed and what should be the answer?
latest answer
Solution available here https://www.youtube.com/live/saIqDiMKXqo?si=Yai7OpHGiQrfmSmb&t=2836
Asmita Kar
CA Final
★ 7K+
1
242
Depreciation under WDV
Accountancy
answered on 07-Apr-25 10:21
What is answer for this question?
latest answer
Pls share your working. This is similar to classroom question.
M Pavan
CA Foundation
★ 290
1
248