Redemption of debenture

answered on 22-Feb-20 20:15

Can I able to get this chapter alone for online classes?

latest answer

Okie thankyou

sai karthi

CA Final

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Operating cycle

answered on 22-Feb-20 20:13

Can a business can have more than 1 operating cycle for different products? Can it alter the operating cycle whenever they feel so?

latest answer

Operating Cycle is determined for each business separately. A company can have more than one Operating Cycle. But for most practical purposes, an average can be used.

Raviteja Kusumanchi

CA Final

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Best way to revise all the standards the day before exam?

answered on 13-Mar-20 19:51

Dear Satya Raghu Sir, It is great learning to attend your classes. Everything is just perfect. The quizy assessments make it more interesting. The notes are also good. I would like to request you to suggest a plan to revise max. of standards in least min. time that too day before exam. Thanks in advance.

latest answer

We already did one important AS YouTube live. We suggest you go through the notes and if required make own notes and go through the same before the exam

Rahul Sharma

CA Inter

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AS 25 Interim Financial Reporting

answered on 24-Feb-20 06:19

There is no specification by the AS to prepare Interim financial report in a particular manner - Complete set or condensed. Then, as an auditor how and from where will I come to know hat company has resolved the IFR to be prepared?

latest answer

An interim financial report should include, at a minimum, the following components: (a) condensed balance sheet; (b) condensed statement of profit and loss; (c) condensed cash flow statement; and (d) selected explanatory notes. This is the minimum requirement. Now if an enterprise prepares a complete set of financial statements, the auditor has to ensure that the complete set of financial statements complies with relevant presentation and disclosure requirements.

Rahul Sharma

CA Inter

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599

AS 25 Interim Financial Reporting

answered on 24-Feb-20 06:20

In the annexed illustration, expenditure incurred towards property tax for calender year for Q1 was treated as outstanding or prior period expense? If it is treated as prior period expense, then additional disclosures are required to be made, right? If not, then what will be the treatment and disclosure w.r.t. same?

latest answer

Property tax assessed cannot be considered to be a prior period item. A provision would have been created in the previous periods.

Rahul Sharma

CA Inter

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594

Redemption of preference shares.

answered on 21-Feb-20 20:37

Illustration 2 to find out number of shares ,when shares issued with premium u divided only by face value.. Bt in illustration 4 went shares r issued @ 50 and 10 premium.. We SD divide by 50 right sir.. Y u divided by 6.

latest answer

First is a case where you want to ensure that there is no transfer to CRR. Second is a case where you want to know how many shares are to be issued so that enough money is raised for redemption.

Shruthi V

CA Inter

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590

AS 2 Q&A

answered on 21-Feb-20 20:52

In this question ,the excise duty has not been mentioned but sir took it as Rs.10.How? Does cenvat imply here?

latest answer

Okay

Raviteja Kusumanchi

CA Final

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Doubt in AS 2

answered on 21-Feb-20 20:52

Is depreciation of all assets in factory always considered as fixed overhead ?

latest answer

Okay thank you sir

Raviteja Kusumanchi

CA Final

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AS 25 - Interim Financial Statements

answered on 24-Feb-20 06:24

In case a company is preparing complete set of financial statements, it needs to give the same in the format as in recent FY end. The doubt is 'in such a case, whether Basic and Diluted EPS need to be reported will be annualised or otherwise?'

latest answer

It will not be annualized. It will be for the period only.

Rahul Sharma

CA Inter

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566

Adv account. Partnership

answered on 26-Feb-20 18:39

Why in this sum deficiency of partner capital of C and D is debited to A and B IN their capital ratio Instead of profit sharing ratio when garner Murray rule not mentioned

latest answer

You need to bring in cash for realisation loss. (Though generally its a book entry only, but still need to show). The book might be incorrect.

Gokul Nath

CA Inter

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