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Financial statement of a company
Accountancy
answered on 27-Aug-21 14:15
For calculating changes in inventories whether opening - closing (or) closing - opening
latest answer
Opening - closing Remaining goods sold
Rubika Sankar
CMA Inter
★ 370
1
597
Doubt
Accountancy
answered on 27-Aug-21 09:48
Sir, even though preference share are redeemed Should i still need to show authorished capital ? Then, not any mention about authorised eqiuty resolution in question, how authorised equity share capital goes to 250000 shares Instead of 220000 shares
latest answer
Thank you mam
Balaji R
CA Final
★ 20K+
3
692
Shares
Accountancy
answered on 27-Aug-21 10:46
About share warrants
latest answer
Thank you mam
Rubika Sankar
CMA Inter
★ 370
2
743
Company accounts
Accountancy
answered on 26-Aug-21 22:04
Deferred tax liability explanation in detail?
latest answer
It is the difference between the book profit and tax profit( calculated as per income tax act) where book profit is greater than tax profit ...it means that currently the company had paid less tax than what it should've paid so the company will create a liability called DTL. It is recognised only for timing differences (AS 22)
Rubika Sankar
CMA Inter
★ 370
1
608
pdf of the numerical question
Accountancy
answered on 26-Aug-21 15:19
sir please provide the pdf of the numerical questions covered in covered in the module . my attempt is may 2022 so i dont have the icai books .
latest answer
Illustrations covered in modules are part of Notes available under Free Resources
nisam M
CA Final
★ 23K+
1
603
Dividend payable Account
Accountancy
answered on 26-Aug-21 15:44
in Dividend payable account , Rs.12 lakh will be Debited as To cash A/c. OR will be Credited as By profit and loss A/c. ? and what will be the Balancing figure ?
latest answer
Got it ! Thank you so much !
Chandan Subudhi
CA Final
★ 12K+
4
667
Doubt
Accountancy
answered on 26-Aug-21 16:13
How they allot debentures for underwritters(red mark in image) Even though in question doesn't mention about this...
latest answer
Sry got it mam Thank you
Balaji R
CA Final
★ 20K+
6
640
redemption of debentures
Accountancy
answered on 26-Aug-21 11:38
The profit on cancellation of debentures will be charged against profits or loss account , right ?
latest answer
Ok , thank you
Susai Yappan
CA Inter
★ 12K+
2
559
Different between the provisions and contingent liability
Accountancy
answered on 26-Aug-21 15:31
In provision, we can estimate the amount but it isn't reasonable accuracy. In contingent liability can we estimate the amount or don't the amount.
latest answer
Accounting concept refers to the basic assumptions and rules and principles which work as the basis of recording of business transactions and preparing accounts. Accounting policies are the specific principles and procedures followed by a company's management team (may change from company to company) that are used to prepare its financial statements. Accounting standards are common (they apply to all entities)(like law) sets of principles, standards, and procedures that define the basis of financial accounting policies and practices. (you will learn more of these standards at intermediate level) All of these make the books of accounts and at the end financial statements
Vani
CA Foundation
★ 2K+
9
854
Accounting concepts
Accountancy
answered on 26-Aug-21 15:25
In accounting concepts there are all lot of concepts. Is we use all concepts or only fundamental accounting assumption?
latest answer
Followed they are basics of accounting and without them double entry accounts cant be done so its like followed by default
Vani
CA Foundation
★ 2K+
3
487