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Accountancy
answered on 29-Nov-20 21:35
How to treat the adjustment no 3
latest answer
Account for sales for 50%
Sri kanaga Varshini
CA Final
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There are so few sums on CFS in study material
Accountancy
answered on 29-Nov-20 21:35
Does anyone have pdf containing CA inter level CFS questions?
latest answer
Concepts are same. There wont be much variation. Once you are comfortable to compute cost of control and analysis of profits, rest is just adding two balance sheets.
Kumarjit Dey
CA Inter
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Liquidation of companies
Accountancy
answered on 29-Nov-20 20:55
Icai study material Illustration 5 How to calculate liquidator's remuneration?
latest answer
Tnq
Gomathi K
CA Final
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As 4.
Accountancy
answered on 29-Nov-20 20:39
Sir only legal case filed by a client before 31 march, is it a any condition exist or can say require any provision based upon only legal case file
latest answer
Ok ji
DEEP VICKY
CA Final
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668
As 18
Accountancy
answered on 30-Nov-20 08:47
Example Common directorship?
latest answer
two companies are not considered to be related simply because they have a director in common, (unless the director is able to affect the policies of both companies in their mutual dealings) Director is the related party of a company.
Krishna kumar
CA Final
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Doubt
Accountancy
answered on 29-Nov-20 17:55
Sir is it compulsory to open suspense account (like ledger) in this question .
latest answer
Better to open.
Sri kanaga Varshini
CA Final
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626
Partnership sale to company illustration 6
Accountancy
answered on 29-Nov-20 17:57
Why there is no adjustments for joint life policy and goodwill?
latest answer
Joint life policy is already surrendered. So it will no longer appear in balance sheet. I did not understand your query on goodwill.
vinay ajith
CA Final
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599
As-20
Accountancy
answered on 29-Nov-20 15:49
In computation of basic EPS (NUMERATOR) Will we deduct transfer to statutory reserves?
latest answer
No.
Bharath sha
CA Final
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As 29 - understanding this whole contingent liability, provision, and reimbursement thing
Accountancy
answered on 29-Nov-20 20:03
X Ltd is battling a legal case in court since 2015. Up until 24th May, 2017, X Ltd's legal team provided absolute assurance that there would be no outflow of Future Economic Benfits (FEB). On that date, the tables have turned in court and the management, fearing outflow of FEB is not remote, deems it wise to disclose the matter as contingent liability in footnote of FY 17-18's Balance Sheet. Y Ltd, an associate of X Ltd, ever since the start of the case in 2015 has been constantly reassuring X Ltd that it would reimburse the legal expense if the matter at court ever turned upside down. On 3rd June, 2018, FEB outflow became inevitable as per ultimate declaration of court, and X Ltd is forced to made a provision for it. By end of March, 2020, it paid a whooping amount of Rs 200 Crore to the plaintiff. Still 300 crore is left to be paid. Rs 100 Crore is reimbursed by Y Ltd. Reimbursement of balance amount is also virtually certain. What shall be the treatment in financial Statements for YE 2020
latest answer
Ok. Sir.
Kumarjit Dey
CA Inter
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Is Discontinuing Operation (as per AS 24)
Accountancy
answered on 29-Nov-20 11:19
a form of Restructuring of Business [1st point in attached]
latest answer
There could be a case during restructuring which involves discontinuing of operation.
Kumarjit Dey
CA Inter
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612