Forums
As 4
Accountancy
answered on 07-Nov-20 07:57
Sir, where is the balance of this video
latest answer
Ok sir, thank u
Sajan Gangadharan
CA Final
★ 9K+
4
555
Joint Life Policy treated as asset.
Accountancy
answered on 06-Nov-20 17:11
Surrender value is the amount given by the insurance company to the firm in case he fails to pay the whole premium amount, right. Then why the policy doesn't come to an end. And why it Continues,if the firm can't pay until the death or retirement of a partner.
latest answer
Surrender value is the value that a policy holder would get in case the policy is surrendered. It represents current valuation of the policy. The policy continues.
ALDRIN G
CA Inter
★ 12K+
1
624
Doubt
Accountancy
answered on 07-Nov-20 12:33
Sir I have a small doubt in the screenshort the average profit is 26,600 but when I calculated I got value as 26,667. Which is exact value sir 26,600 or 26,667.
latest answer
Sir I used weighted average method sir so I got 26667 sorry Sir I was just confused I didn't studied this concept any where this is first time I have studied sir so I was confused sir
sai t
CA Foundation
★ 2K+
4
494
AS 24 & AS 4 related query
Accountancy
answered on 06-Nov-20 18:11
Sir, here in the book it says that if an initial disclosure event (as per AS 24) occurs between the balance sheet date and before approval of financial statements by the board of directors we need to disclose as per requirement of a AS 4 (see attached, please). But as per AS 4, their needs to exist a condition as on the balance sheet date to be called "adjusting event" and therefore make adjustments, right? Let me be more clear with this example If say, BoD of A Ltd announced and approved on 3rd May that they are going to discontinue a part of their business, and say FS is approved on 8th Aug and year end is 31st March (as usual). There was no condition existing as on 31st March indicating that the management would discontinue a part of its business operation.
latest answer
Thank you sir
Kumarjit Dey
CA Inter
★ 4K+
2
548
Query on MLP (AS 19)
Accountancy
answered on 06-Nov-20 13:42
For the lease to be classified as finance lease one of the conditions requires that: at the Inception of the lease, the present value of the minimum lease payments must be substantially equal to the fair value of the leased Asset My question is that is this MLP from "the standpoint of the lessee" or "the standpoint of the lesser"?
latest answer
Understood. Thank you
Kumarjit Dey
CA Inter
★ 4K+
2
591
Capital vs revenue
Accountancy
answered on 06-Nov-20 13:44
Sir in this question point why it is classified as revenue expenditure?? as it leads to endurable benefit..
latest answer
ICAI can be wrong.
Sri kanaga Varshini
CA Final
★ 3K+
3
535
partnership
Accountancy
answered on 07-Nov-20 14:09
How do we know whether the joint life policy is taken as a expense , asset or a reserve?
latest answer
ok Sir
lohita Prava
CA Final
★ 35
2
493
partnership
Accountancy
answered on 07-Nov-20 14:10
What is the difference in accounting of retirement and death of a partner?
latest answer
OK and everything else is the same like goodwill ?
lohita Prava
CA Final
★ 35
2
515
Dissolution of Partnership
Accountancy
answered on 05-Nov-20 18:24
Is loan from HUF of partner outside liability or inside liability?
latest answer
Outside
Raviteja Kusumanchi
Qualified CA
★ 42K+
1
545
Dissolution of Partnership
Accountancy
answered on 05-Nov-20 18:26
This is illustration 5. Why is realization expenses not considered in this sum?
latest answer
The firm already has 500 balance. and first instalment realised is 1000. So 500 is kept aside and distributed.
Raviteja Kusumanchi
Qualified CA
★ 42K+
1
502