Ind AS 20

asked 12 hrs ago

Hello Sir, in this problem when we are recognizing the govt grant should we not recognize the deferred income in the first year as 60,000 irrespective of it being receivable in installments. So ideally the deferred income balance will be 60,000-21667 for the current year. Is this right sir?

latest answer

No answers yet!!

Suresh Avinash

CA Final

★ 3K+

0

9

Ind AS 12 Illustration 6

asked 1 day ago

In this question I can understand calculation of difference between fair value and carrying amount. But Tax base of assets and liabilities is not given. When tax base is not given how to decide is it DTA or DTL

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No answers yet!!

swaminathan sundaram

CA Final

★ 110

0

17

As to Ind AS

asked 2 days ago

Is there any impact on deferred tax due to employee dues "Payroll area" while converting from AS to IND AS

latest answer

No answers yet!!

Gauri Shete

CA Final

★ 4K+

0

21

Ind AS 12 deferred tax

asked 2 days ago

Video No 14 Illustration 4 Tax base and carrying are required to take a decision whether the difference is DTA or DTL.. In this question tax base and carrying can I assume and do it.

latest answer

No answers yet!!

swaminathan sundaram

CA Final

★ 110

0

15

Bc

answered on 15-Apr-24 19:01

While re measuring existing share in case of step acquisition resultant amt transfer to pl or oci if ind as 109 applies . but what if entity applies ind as 27 measure at cost there is no re measurement gain ?

latest answer

P&L

Ravi Teja

CA Final

★ 20

1

26

Ind AS 37 Video No 22

answered on 15-Apr-24 19:11

U Ltd is a large conglomerate with number of subsidiaries. In this question I can understand provision entry calculation. But Parent company subsidiary company information why given I am not able to understand this.

latest answer

Impact on consolidated FS.

swaminathan sundaram

CA Final

★ 110

1

27

Ind AS 37 Contingent Liability

answered on 15-Apr-24 19:28

Page 9. 100 module 3 old syllabus book financial reporting Ind AS 37 Illustration 4 X Ltd has entered into an agreement with its selling agent Y, in accordance with which X Ltd has to pay a base percentage of commission on export sales and additional commission is to be paid if the export incentives are received. Here for the routine commission instead of passing provision entry can I create a liability account as routine commission is paid after understanding the quantity of sales. Data is known here. My understanding is provision is different and liability is different. That is the reason I am asking this

latest answer

Provision is anyways a liability. We use provisions as there could be returns etc.

swaminathan sundaram

CA Final

★ 110

1

27

Deferred Tax

answered on 15-Apr-24 19:39

Video No 30 Illustration 13 DTL is calculated as 25%. In the question 20% is the tax rate given

latest answer

will recheck. Sometimes in a flow, I would have taken previous question rate!

swaminathan sundaram

CA Final

★ 110

1

43

Financial instruments

answered on 13-Apr-24 10:25

Hi Sir, For Financial liabilities, we account it at Net transaction price which is FV of loan (-) Processing fee. However, we pay interest on loan amount of 1 Lakh and repay 1Lakh at the end of loan tenure. In this case, why do we initially recognize Financial liability at Net transaction price instead of loan value of 1L.

latest answer

This will clarify

ahmad bunyamin

CA Final

★ 1K+

2

42

Indas 12

answered on 12-Apr-24 17:02

For illustration 1 in Institute Study Material, In page no. 9.15 point 6 they have government grants are not taxable. If the government grant is not taxable, the carrying amount should be equal to tax base but in page no. 9.34 why they gave given carrying amount as Rs. 14,00,000 and Tax base as Rs. 0?

latest answer

Another way to understand is that since the tax rate will be 0, no deferred taxes

Smile A

CA Final

★ 3K+

2

43