Leases

answered 19 hrs ago

Is it required to classify the Lease Liability for leases whose period is ending within the next financial year as current liability or no such classification required. Also please let me know, if required, which law or standard requires such classification.

latest answer

Ooh kk.. Thank you sir..

Valli Kotapati

CA Final

★ 5

7

41

IND AS 19

answered 1 day ago

Hi sir I have query in post employment benefits Defined contribution plan We are classifying PF payable by the employer as defined contribution plan under post employment benefits My query is PF payable by employer is expected to settled in 12 months right then why can't we classified under short term benefits and do accounting... Kindly clarify me sir

latest answer

Ok sir Thank you

Barani Tharan

CA Final

★ 112K+

4

34

IND AS 41

answered on 25-Mar-23

How security dogs be accounted for as per IND AS They have a life of more than a year but are not for agricultural purposes How should we treat them sir

latest answer

Okay sir thank you

Valli Kotapati

CA Final

★ 5

2

39

Forex

answered on 24-Mar-23

Video 22. In video sir says margin will be added to bank's selling rate, where as in notes it is given margin will ne subtracted from bank's selling rate Please clarify

latest answer

Exactly it will always be adjusted in a way that the bank benefits. Will check the Notes and correct them if required immediately - thanks for highlighting them.

nazriya nasar

CA Final

★ 6K+

3

44

IND AS 40 ILLUSTRATIONS NOTES Not available

asked on 19-Mar-23

Sir. pl send Ind AS 40 Illustrations Notes which is not available , only theory notes available. Thank You.

latest answer

No answers yet!!

Js Giri

CA Final

★ 0

0

33

Leases

answered on 18-Mar-23

In case of ROU assets whether a re estimate of discounting rate and present value of ROU asset and lease liability is required at regular intervals or no such estimate is necessary after the commencement of the lease

latest answer

Okay sir thank you

Valli Kotapati

CA Final

★ 5

2

50

IND AS 116

answered on 16-Mar-23

Hello sir, For example, assuming I own a company in any SEZ area and I have given a land along with infrastructure facilities for which I have paid an amount upfront. Infrastructure facilities include power supply, road etc., which is used by others too which will be a common asset. Can I consider these facilities as lease?

latest answer

Check control angle as well. So cant cover as leases

Suresh Avinash

CA Final

★ 2K+

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63

Depreciation start date for tools not yet put to use having useful life of more than one year

answered on 17-Mar-23

When to start the depreciation calculation for tools and spares having useful life of more than one year i.e. 1year 1month and are not yet put to use Is that ready to use concept only., and if so, what if, the asset i.e stores and tools got depreciated before put to use

latest answer

Okay sir thank you

Valli Kotapati

CA Final

★ 5

2

54

Financial Instruments

answered on 22-Mar-23

Can someone please explain revised interest computation? Illustration. 32

latest answer

Calculate PV at 10% and 13% and use the IRR formula you have learned in Financial Management.

Mansi Kamble

CA Final

★ 0

3

47

IND AS-38, Intangible assets

answered on 14-Mar-23

Good afternoon sir! In illu-16, the "in-process research project" does not give FEB when acquired unless further development madei.e.., it is not an intangible asset...even if don't consider as seperate IA as you told we will consider as Goodwill for Goodwill we will consider only Rs 5 lakh which is over and above of FV of tangible assets. So, why can't we account 5 lakhs as Goodwill on acquisition and recognise IA when it met the recognition criteria in buyer books as a new IA??can you please explain me once sir??

latest answer

Thank you sir😊

Priya Bhimani

CA Final

★ 7K+

2

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