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Deprication method - an accounting policy, but why not the change?
Accountancy
answered on 13-Nov-20 20:29
"The auditor should obtain a clear understanding of accounting policy adopted by the entity regarding depreciation and amortization" It is clear from the above statement that the method of Depriciation selected by the entity is a part of accounting policy adopted by the entity. My Q is, if entity decides to change its deprication method, how come it change in estimate and not a change in policy?
latest answer
Nicely explained. Thank you
Kumarjit Dey
CA Inter
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965
AS 2
Accountancy
answered on 13-Nov-20 13:59
If we own a factory, should we include a portion of amount as rent in cost of conversion?
latest answer
And notion costs / notional rents are not allowed to be added to cost of conversion
Prakhash Ram
CMA Inter
★ 0
4
598
request to free videos last date extension
Accountancy
answered on 13-Nov-20 16:02
there is no question just suggestion or request to extent free videos time from 15 november to 18 nov it will help me lot
latest answer
Regret that will not be possible.
Gaurav Rathod
CA Foundation
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3
615
As-10
Accountancy
answered on 16-Nov-20 10:07
In illustration 7 I understood that if the transaction lacks commercial substance its measured at BOOK VALUE of assets given up. But what makes us deduct the cash recieved was by doubt.
latest answer
Yes.
Kaveesh Sethi
CA Inter
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3
648
Standard
Accountancy
answered on 13-Nov-20 10:53
Sir plse provide separate module fr advance accounting standard to purchase (not individual module)
latest answer
Its not available till exams.
Nivetharaman Raman
CA Foundation
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3
564
Leap Year
Accountancy
answered on 13-Nov-20 09:18
If an year given in the question in Average due date or Account Current is a leap year, eg.2016. Do we need to consider it as leap year even if it is not specified in the question as leap year.
latest answer
Thank you Sir.
ALDRIN G
CA Inter
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5
625
Account Current.
Accountancy
answered on 13-Nov-20 20:47
1) In question, will they ask to do the Answer in a particular method of date calculation, Do we need to learn both methods of date calculation. 2) In backward method of date calculation, we should take the first transaction date or first due date,which one as base date. 3) Can backward method of date calculation be used in Interest method also or only in product method.
latest answer
OK sir
ALDRIN G
CA Inter
★ 12K+
6
593
Doubt
Accountancy
answered on 12-Nov-20 21:22
Sir in this question they have asked for capital account . How capital will come in NPO.? What they are referring to ?
latest answer
Logic is same like that of NPO
Sri kanaga Varshini
CA Final
★ 3K+
6
623
Doubt
Accountancy
answered on 04-Dec-20 13:30
1)Can we write Working Notes first,then write Answer. I mean Working notes at Top and Answer subsequent to it. 2)Can we write working notes with Blue pen. 3)Can we write large Ledger A/c's horizontally.
latest answer
Pls use black ball pen
ALDRIN G
CA Inter
★ 12K+
3
693
Doubt
Accountancy
answered on 11-Nov-20 18:50
Sir in this point no.4 if I Dr. Naveen a/c instead of purchase account is it is wrong ?
latest answer
If earlier recorded as creditor for that amount ur opinion is correct. But logically if trade discount and cash discount given simultaneously it's reasonable to assume that immediate payment was inneciated and paid accordingly
Sri kanaga Varshini
CA Final
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3
681