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AS 5
Accountancy
answered on 03-Jun-21 10:09
Can anyone explain how it is treated as prior period item? What is the error or omission in this case?
latest answer
The final bill must be accounted in the year 20X8 but it was not accounted. Since it was accounted in 20X9, it is considered as prior period item because of ommission
Himanshu Somani
CA Final
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555
Branch accounts- Illustration 6
Accountancy
answered on 01-Jun-21 22:10
In question it is not mentioned whether the "Stock at Cochin as on 1st Jan" is at cost or at invoice price. But the problem is solved as it is in invoice price. Whether we can assume it to be in cost?
latest answer
They clearly mentioned that head office invoiced goods to branch at cost plus 25%. That means the opening stock in branch is also at invoice price only
Nivedha Balaji
CA Final
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535
Accounting standards
Accountancy
answered on 02-Jun-21 08:35
What is the difference between adoption and convergence of IFRS?
latest answer
Tq sir
bsai partish
CA Final
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565
Accounting for Employee stock option
Accountancy
answered on 02-Jun-21 08:37
In these two problems in illustration 5, when the unvested options lapsed they reversed the liability in respect of the 4000shares that had accured till date..but in the other problem they dont do that but just recognise the excess liabilty that is to be made...I cant get the reason behind it, why is there two different treatments? I mean if what is followed in ill5 is to be followed in ill 6 then we should have recognised the entire 910000 as on 31.3.X3 and revesed the ESOS Acc to the extent of 515000 to general reserve isnt it?
latest answer
Yes. Prefer net basis as all other illustrations than 5, does it.
Venkatesh Rathinam
CA Final
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586
If brs is given on 31 December in question should we prepare amended cash book?
Accountancy
answered on 01-Jun-21 12:17
How should we know year ending if it is given on 31 sr December? When should we prepare amended cash book if it is not mentioned in question?
latest answer
Yes. When to be prepared depends on the question.
MATURU HAMSA GAYATRI
CA Final
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583
5 th question d point
Accountancy
answered on 31-May-21 21:32
In 5 th question d point whether it is deposit cheque or issue cheque?
latest answer
Issued cheque because question says "drawn by her"
MATURU HAMSA GAYATRI
CA Final
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505
AS-18
Accountancy
answered on 31-May-21 15:57
Can transaction between employer and employee treated as related party transactions?
latest answer
Thank you sir!
srinidhi srinivas
CMA Final
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2
529
Consolidation
Accountancy
answered on 01-Jun-21 17:04
Sir Do i want to read cross holding sums in consolidation in inter level?
latest answer
No. Cross-holding sums shall not be asked at Inter level
Pradeep Ravikumar
CA Final
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605
AS 22
Accountancy
answered on 31-May-21 14:53
Sudharsan: Dear sir, My doubt is how the (1) question is deferred tax liability Income tax depn is less than a/cing depn so, pay now save later then it must be deferred tax asset only But they tell it is a dtl Depn low as per tax records = profits more = tax pay high= Save in future =so DTA According to my thought, but i didn't know whether it is correct
latest answer
https://youtu.be/WMJWDyKp3X0 Please watch the above video to understand it better
Suriya M
CA Final
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Bonus issue
Accountancy
answered on 30-May-21 20:11
In authorised capital, whether we have to add issue of bonus share(subscribed) or issue of bonus share(authorised), because SM gave different treatment to different answers.Kindly clarify.
latest answer
Oh thankyou sir.
Madhaan S
CA Final
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