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Examples - Contingent Consideration
Financial Reporting
answered on 15-Sep-24 07:37
In both the examples, shares only being issued. Then why in the 1st example, it has been taken as equity & in 2nd example it has been taken as Liability, sir?
latest answer
Fixed number of shares - equity If number is not fixed liability
Swathi S
CA Final
★ 880
1
3
Deferred Tax Asset - Carried forward losses - example
Financial Reporting
answered on 17-Sep-24 06:37
However, DTA & DTL are not be considered as they are not operational oriented assets. If so, even if the condition existed on Balance sheet date, We will not adjust it against Goodwill or Bargain purchase. Am, I right ,sir?
latest answer
Then recognise
Swathi S
CA Final
★ 880
3
13
Contingent liability
Financial Reporting
answered on 14-Sep-24 22:00
Conditions existing on Date of acquisition or Balance sheet date , sir?
latest answer
Date of acquisition
Swathi S
CA Final
★ 880
1
4
Query in Illustration 1
Financial Reporting
answered on 16-Sep-24 12:49
Hi, sir In the 2nd part of illustration 1, if the property was purchased for administrative purposes, wouldn't it be treated as PPE as per Ind AS 16?
latest answer
Amount wont change - Classification would be change.
Ruthvik Reddy Adala
CA Final
★ 0
1
275
Journal entries
Financial Reporting
answered on 16-Sep-24 12:50
Sir is it necessary to write narration for journal entries, If not written then will marks be deducted
latest answer
1-2 marks may be deducted Write narration in lesser words.
R Yashwanth Kumar
CA Final
★ 86K+
1
271
Logic-Guarantee Contract
Financial Reporting
answered on 16-Sep-24 12:51
What is the logic behind taking Interest if Gurantee not taken for calculating Present Value?
latest answer
If guarantee not taken, interest is higher If guarantee is taken, interest is lower Differential amount is saving or benefit. Generally if you take guarantee from outside party, they charge commission/fee.
Hrishikesh Pradhan
CA Final
★ 7K+
1
265
Consolidated Financial Statements
Financial Reporting
answered on 10-Sep-24 22:12
In Example-4 Unrealized profit on inventory amount is 80 it should be reduced from post acquisation reserves of holding company only Why it is shared to NCI Also ??
latest answer
Is the profit earned by holding or subsidiary?
Narayanashetti Suresh
CA Final
★ 355
1
8
Shortlist of questions for practice
Financial Reporting
answered on 10-Sep-24 15:09
Hello Sir! I am a student who took your classes for FR earlier. I found the classes helpful. Thank you sir! I wrote my final exam last may and scored 44 marks in FR. I couldn't clear the exams. Now I am preparing for this November exams. I request you to suggest important questions in every topic. Some topics have over 50 questions. A pointer on important questions might helps us a lot!
latest answer
Thank you sir!
Deepika Kashyab
CA Final
★ 300
2
326
Journal Entries in Illustration 2
Financial Reporting
answered on 09-Sep-24 17:09
Why have we passed the 2nd and 3rd entry. I couldn't get the logic behind passing such entry, sir.
latest answer
When the entity held 30% stake, it accounted for the investments using the equity method. So share of exchange differences and share of revaluation reserve would be recognised in OCI. Now since control is established, the balance in OCI is transferred to retained earnings as it is no longer an associate.
Swathi S
CA Final
★ 880
1
5
Assets held for sale
Financial Reporting
answered on 09-Sep-24 17:10
What if on the given conditions for asset held for sale, the regulators deny for the permission denies for the approval
latest answer
Then it will no longer be held for sale.
Mohammed Sarfaraz
CA Final
★ 720
1
52