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Consolidated financial st
Accountancy
answered on 23-Sep-24 11:14
Unrealised profit WHY is not shown in analysis of profit and deducted from consolidated reserve and minority ?
latest answer
It is adjusted separately. You can show in analysis of profits as well if subsidiary has sold to holding.
Sushmita Chowdhury
CA Inter
★ 2K+
1
416
AS 17 - Segment Reporting
Accountancy
answered on 23-Sep-24 15:18
Para 50 and 51 respectively refer to a 'customer-based geographical segment' and 'asset-based geographical segment'. Is this just another way of referring to a Geographical Segment based on Location of Customer / Asset respectively?
latest answer
Thank you sir!
Vishnu Muraleedharan
CA Final
★ 32K+
2
417
AS 4- Disclosure for non adjusting events
Accountancy
answered on 20-Sep-24 11:08
15. Disclosure should be made in the report of the approving authority of those events occurring after the balance sheet date that represent material changes and commitments affecting the financial position of the enterprise. Is para 15 relating to the disclosure of events affecting validity of the going concern assumption? Or is it speaking about all events occurring after BS date in general?
latest answer
If it is an adjusting item then it will adjusted in financial statements, If not adjusting and material then disclosure is necessary If going concern is affected then they shd prepare FS not assuming going concern
Vishnu Muraleedharan
CA Final
★ 32K+
4
538
AS 16
Accountancy
answered on 23-Sep-24 13:46
We should capitalise when the asset in under construction right? But in this Qus.why don’t we capitalise and held in capital WIP?
latest answer
Ready for use. for borrowing cost- substantially ready for use.
Soon to be CA
CA Inter
★ 4K+
7
514
Buy back
Accountancy
answered on 16-Sep-24 12:52
Sir in this question we need ₹25lac for buy back. So we take ₹20lac from securities premium, ₹2lac from fresh issue and ₹3lac from revenue reserve. But question says investment sold for ₹22lac for the purpose of buy back. So where did we use this ₹22lac amt ?
latest answer
One is equity side adjustment comprising of reserves. Second is asset side adjustment - as we need money to pay to the shareholders (as pointed out by Tharun)
Ajaykumar Parit
CA Inter
★ 815
2
414
AS 19
Accountancy
answered on 16-Sep-24 12:52
Can anyone send me the solution?
latest answer
Which part do you have a doubt?
Mainak Chakraborty
CA Inter
★ 0
1
417
Consolidation
Accountancy
answered on 13-Sep-24 12:51
Share capital + reserve and surplus of subsidiary is rs100000 Holding Co own 90% I.e rs90000, but paid rs120000 so extra rs30000 is also received by subsidiary ? then why not showing in books of account ?
latest answer
We show it as a part of goodwill.
Sushmita Chowdhury
CA Inter
★ 2K+
1
394
AS 22 Accounting for taxes for income
Accountancy
answered on 14-Sep-24 11:54
In this question how come the timing difference is 4 Crs. As per accounting income :- sale proceeds is 8Cr and cost of investment is 4crs therefore accounting income is 4cr. As per taxable income it is the same 4crs .So why they are saying timing difference of 4crs exists?
latest answer
1
Niveta Rajkumar
CA Inter
★ 6K+
6
578
AS 5 net profit and loss, Prior period items and change in accounting policies
Accountancy
answered on 13-Sep-24 14:37
Is selling land to tide over liquidity problems is an extraordinary item?why is that so? why receipt of govt grant is a extraordinary item?
latest answer
extraordinary items are those that are both "unusual in nature" and "infrequent in occurrence".
Niveta Rajkumar
CA Inter
★ 6K+
2
470
All
Accountancy
answered on 12-Sep-24 11:36
All accounts papers ca foundation
latest answer
Complete Company Accounts, partnership Accounts, Rectification, Inventories, Depreciation, NPO and Single Entry. Then focus on remaining chapters.
Subhashini S
CA Foundation
★ 5K+
3
560