Forums
AS 24
Accountancy
answered on 28-Nov-20 07:45
"If an initial disclosure event occurs between the balance sheet date and before approval of financial statements by the board of directors, disclose as required by AS 4." Sir AS 4 is not a disclosure standard. What does the above statement mean to say?
latest answer
AS-4 does have a disclousre requirement. If disclosure of events occurring after the balance sheet date in the report of the approving authority is required by paragraph 15 of this Standard, the following information should be provided: (a) the nature of the event; (b) an estimate of the financial effect, or a statement that such an estimate cannot be made
Kumarjit Dey
CA Inter
★ 4K+
1
489
Departmental
Accountancy
answered on 28-Nov-20 11:18
In dis working note 1555 is unrealised profit of dept b And 641 is of dept a? Am i right or is it vice-versa sir
latest answer
Yes
Shruthi V
CA Inter
★ 0
1
545
Theory questions
Accountancy
answered on 27-Nov-20 13:26
Any chances of being asked from these chapters: Backing companies, NBFCs, Partnership, Internal Reconstruction? Because I hope not.
latest answer
Sir please respond to my other queries as well. I am patiently waiting :)
Kumarjit Dey
CA Inter
★ 4K+
2
503
Doubt
Accountancy
answered on 27-Nov-20 15:35
Sir how to calculate sacrificing ratio in example 1 because they have not given any new rations
latest answer
OK sir thank you sir
sai t
CA Foundation
★ 2K+
3
530
Treatment of Transferor company's Statutory Reserves in Amalgamation
Accountancy
answered on 27-Nov-20 15:21
In Transferee's book (merger): Add them to reserves & surplus In Transferee's book (purchase): pass this entry Amalgation Adjustment Reserve a/c dr To Statutory Reserve a/c In books of Transferor: Adjust with Equity Shareholders Account just like General Reserve, Accumulate losses in both cases (merger and purchase) Am I right?
latest answer
Yes
Kumarjit Dey
CA Inter
★ 4K+
1
1K+
The Infamous Lucky Ltd sum
Accountancy
answered on 27-Nov-20 18:03
Sir, shouldn't the "Compensation expense of the year" be divided by 3, instead of 2, Because its being vested over period of 3 years?
latest answer
Oh ok. Conditional vesting. I will keep that in mind :
Kumarjit Dey
CA Inter
★ 4K+
4
490
Why is profit on cancellation of debentures
Accountancy
answered on 26-Nov-20 19:07
Transferred to Capital Reserve account instead of profit and loss account? Please see attached.
latest answer
Okay.
Kumarjit Dey
CA Inter
★ 4K+
2
519
Buy Back Query
Accountancy
answered on 27-Nov-20 16:46
What will be the amount of Total Loan Funds for the purpose of Debt Equity Ratio Test? My answer is 4525000. Author has done mistake in solution. Can you please confirm?
latest answer
Your confirmation is what I was looking for. Thank you
Kumarjit Dey
CA Inter
★ 4K+
2
561
AS 4 provision
Accountancy
answered on 26-Nov-20 17:14
if debtor may be insolvent becouse of any panding legal case lodged on him, if this condition before balance sheet if exist, but management does not knew about his insolvency and accounts of books have been finalised before taking as4 provision , is it prior period items in which magt knows
latest answer
Ok friend
DEEP VICKY
CA Final
★ 685
4
572
Basic Query on ESOP
Accountancy
answered on 26-Nov-20 19:07
I want you to kindly have a look at the very last line of the 1st pic. It says "No Entry is passed when stock options are granted to employees" Now, in the 2nd pic you can see the same author has passed entry in 1st April (date of grant). I am confused. Please help me understand this.
latest answer
Ok thank you
Kumarjit Dey
CA Inter
★ 4K+
5
543