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Sir you said in class that you will learn in Adv A/c
Accountancy
answered on 09-Jul-24 16:21
Sir you said in class that you will learn in Adv A/c are our lectures updated? because this is the Advance accounting series I am watching
latest answer
It is updated. Dont worry.
GOKUL KOLATE
CA Inter
★ 1K+
1
110
AS 5
Accountancy
answered on 12-Jul-24 11:37
in the illustration 4 can we say the provision created on staff welfare as an accounting estimate
latest answer
Yes
Niveta Rajkumar
CA Inter
★ 6K+
1
207
Capital account
Accountancy
answered on 18-Aug-24 23:51
Sir why do we write capital account in liability side of balance sheet?
latest answer
Owner owing to business
Ajaykumar Parit
CA Inter
★ 815
2
201
AS 22
Accountancy
answered on 06-Jul-24 12:19
As per AS 22 , the business has loss say 100,000 RS and it is virtually certain that the company would have sufficient profit in the future. The loss can be carried forward for 8 yrs. Tax rate 40%.Why are we claiming 40000RS as deferred tax asset for the year 1?If there is a loss and we aren't paying tax for it why is it a deferred tax asset?
latest answer
Because we would save tax in future. So there is a benefit in future because of current year loss
Niveta Rajkumar
CA Inter
★ 6K+
1
256
AS15
Accountancy
answered on 03-Jul-24 15:20
Under AS 15 "employee benefits" what all are the items to be recorded in P&L a/c and balance sheet each year?
latest answer
The following items need to be disclosed in the Balance Sheet: Defined Benefit Obligation: The present value of the defined benefit obligation. Fair Value of Plan Assets: The fair value of plan assets at the balance sheet date. Net Defined Benefit Liability or Asset: The net total of the defined benefit obligation and the fair value of plan assets. Unrecognized Past Service Cost: Past service cost that has not yet been recognized. Actuarial Gains and Losses Not Recognized: Actuarial gains and losses not recognized in the balance sheet but disclosed in the notes.
Niveta Rajkumar
CA Inter
★ 6K+
2
260
AS 13
Accountancy
answered on 03-Jul-24 16:15
As per AS 13 when we acquire an investment for exchange of an asset if FMV of asset given up and FMV of asset acquired both are given , which one should we consider as cost of acquisition? Is the answer same for AS 10 PPE also ? If yes why?
latest answer
AS 13 - First preference FV of asset given up. If FV of asset received is more evident, use that. AS 10 - Similar treatment. First preference FV of asset given up. If FV of asset received is more evident, use that.
Niveta Rajkumar
CA Inter
★ 6K+
2
196
AS 15
Accountancy
answered on 03-Jul-24 16:13
Couldn't understand why we are reducing net impact of unamortised costs (12.5 l)from gain on impact of curtailment (500l).Why not subtract 100 l from gain on impact of curtailment(500 l) directly ?
latest answer
100 is for total Gross obligation. So we are reducing proportionately for 500.
Niveta Rajkumar
CA Inter
★ 6K+
1
293
Final account
Accountancy
answered on 12-Jul-24 11:38
I want to know treatment of bad debts, discount on debtors and discount on creditors
latest answer
For calculation of debtors, Reduce landlord amount and goods sent on approval. From that amount reduce the bad debts ANd then calculate provision for bad debts.
Sathya S
CA Foundation
★ 3K+
1
192
Discount received
Accountancy
answered on 12-Jul-24 11:51
Why discount received is debited with p/l account
latest answer
for debtors, we give discount which is an expense.
Sathya S
CA Foundation
★ 3K+
1
177
Journal entries in final account
Accountancy
answered on 27-Jun-24 17:22
In final account journal entries sales, return outward,are debited and why trading account is credited
latest answer
Initially when sales or return outward takes place. The journal entries will be cash/ debtor account debit TO sales/ return outward account. Now while finalizing the Books of accounts all the nominal accounts should be closed and transferred to trading and p&l. Hence sale/ return outward which normally hold a credit balance is closed by debiting the sales/ return outward account and crediting the p&l account
Sathya S
CA Foundation
★ 3K+
1
209