Manager vs. managing director vs. Managing personnel

answered on 23-Feb-21 21:38

Doubt

latest answer

(53) "manager" means an individual who, subject to the superintendence, control and direction of the Board of Directors, has the management of the whole, or substantially the whole, of the affairs of a company, and includes a director or any other person occupying the position of a manager, by whatever name called, whether under a contract of service or not; - Someone who is incharge of whole of company. Do not get confused with manager used in day to day life - like branch manager or finance manager. Here its more like CEO. (54) "managing director" means a director who, by virtue of the articles of a company or an agreement with the company or a resolution passed in its general meeting, or by its Board of Directors, is entrusted with substantial powers of management of the affairs of the company and includes a director occupying the position of managing director, by whatever name called. Here, managing director is a director. Either a company would have a manager or managing director.

ALDRIN G

CA Inter

★ 12K+

1

259

Income tax

answered on 22-Feb-21 10:47

Sir . for example ice cream trading enterprise has made a profit of 10 lakh .it is sole trading form of organization.sole trader/owner withdraw 3lakh from business.now owner has to pay income tax for 10 lakh or 3 lakh.

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10 lakhs

Shreesha .T.u

CA Foundation

★ 2K+

1

315

Some doubts related to illustrations in the study material.

answered on 26-Feb-21 15:31

1. On the last illustration of Buildwell Ltd in the Insurance chapter, why is the denominator taken as total of adjusted standard turnover (12,70,000) when calculating Gross Profit Ratio and not previous year's turnover? 2. On the last illustration of Gram Udyog in the Departmental Accounts chapter, what is the meaning of adjustment no.1?

latest answer

1. 12,70,00 is the previous year's turnover only 2. What is your query? Can you be more clear. Also, if you have two different queries post them separately

Kishore Anil

CA Inter

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261

Debenture redemption reserve

answered on 22-Feb-21 11:23

Sir, In module illustration 3 _balance given in bank A/C and DRR A/C is not matched with the way you solved the sum .please help me with this sir

latest answer

The institute material has not calculated interest on debentures

Subash Chandrabose

CA Final

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299

Pre / Post Incorporation

answered on 22-Feb-21 13:21

Please clarify the ratios in which these expenses will be allocated - (Time or Sales) â?¢ Travelling Expense â?¢ Traveller's Commission

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Sales

Ishika Goel 282

CA Final

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3

316

Cash flow

answered on 21-Feb-21 12:30

For preparing cashflow indirect method wen we start wid net profits before tax should we again add back provision for taxes bcz its a non cash expense sir

latest answer

If you start at net profit before tax, no need to add again

Shru Kanda

CA Inter

★ 610

1

323

Hire purchase

answered on 22-Feb-21 13:38

Hi sir. How to calculate Cash Price in this question?

latest answer

Calculation of cash price

Aman Mahajan

CA Final

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395

Illustration 4, Ch-8, ICAI new study mat

answered on 22-Feb-21 11:47

In the solution, why bank balance of 7,50,000 has been taken as opening balance? Shouldn't it be used while calculating the closing bal i.e. 7,50,000 - 11,250 = 7,38,750. Q. says 7.5L including interest. So only interest should be subtracted. Is ICAI wrong in subtracting interest and investment amount also and adding Deb holder payment to it? For better clarity I have attached the Q + Soln.

latest answer

It is an investment a/c interest is received not paid

Ishika Goel 282

CA Final

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327

Term loan

answered on 21-Feb-21 13:14

The attached image is Notes to Accounts of Illustration 8 of Unit 1 of chapter 4 of paper 1 Here, how the LOAN FROM STATE FINANCIAL CORPORATION is identified as Term loan...?? Will u please clarify this doubt.? It is not mentioned in question about term loan...

latest answer

Thank you sir

James Js

CA Inter

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10

322

Illustrations

answered on 20-Feb-21 11:11

In the notes (pdf) of accounting (ca inter) you have provided illustrations(questions) Did you cover answers for all those illustrations in your videos? If not where can I find answers for those questions.

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Thanks..

Sai Teja

CA Final

★ 14K+

2

298