Forums
Audit report as per standards on auditing
Auditing
answered on 22-Nov-25 10:11
Mam if company does not require disclosure from SA going concern . Then, also shall we can mention compiled and presented as per the standards on auditing . since there is less than 13 elements, [Video Time Stamp: 04:16]
latest answer
Yes. Going concern, KAM, eom and OM , are all sections to be introduced only if auditors has information to give. Nog mandatory. However, listen entities, KAM is compulsory
21SCO08 mahalakshmi
CA Inter
★ 1K+
1
110
Ca final grp 1
Exams
answered on 21-Nov-25 15:26
For grp 1 subjects.. is it enough we finish the classes and read your study material or shld we also refer institute study material sir
latest answer
Yes. More than sufficient.
SHRUTHI CHINNI
CA Final
★ 140
1
136
PUblic issue
AFM
answered on 21-Nov-25 19:52
sir why don't we increased the post issued shares 6.944 crores in public issue [Video Time Stamp: 23:15]
latest answer
Because it is either or. Either public issue or rights issue. 6.944 is rights issue share count. that cannot be added to public offer share count
Pavan Naidu ca
CA Final
★ 90
1
126
Nov 2020 RTP
Auditing
answered on 21-Nov-25 12:51
Ma'am as you said engagement letter is given by the auditor to the client but here in this question it's given MEA limited issued engagement letter...so which one will be considered correct? [Video Time Stamp: 00:02]
latest answer
Auditor only issues. The sentence framework is wrong. It’s always auditor
Mutchukota Akhila
CA Inter
★ 4K+
1
109
Timing option-ill 30
AFM
answered on 21-Nov-25 10:36
Sir, usually we calculate u by dividing move up price by current price, but in this question why have you taken PV of savings instead of initial investment value. In earlier sums also we have divided by initial investment amount.
latest answer
In these kind of timing option questions that is the method ICAI is suggesting Even though I disagree with the method u have to follow the method for marks
Pradeepa Narayanan
CA Final
★ 5K+
1
107
Corresponding impact to be given on bargain purchase
Financial Reporting
answered on 21-Nov-25 15:29
Timestamp 6:07 if initial recognition of g/w result in DTA, then DTA to be recognized and corresponding impact to be given on bargain purchase. Can you elaborate on how the impact to be given on bargain purchase? [Video Time Stamp: 06:07]
latest answer
Giving credit to Bargain Purchase means crediting it to Capital Reserve. You will understand Creation of Bargain Purchase under Ind As 103.
rashid poonthala
CA Final
★ 31K+
1
113
Recognition criteria met
Financial Reporting
answered on 21-Nov-25 15:30
Timestamp 13:20 What are the recognition criteria to be met for recognizing DTA referred here? I am not able to relate it [Video Time Stamp: 13:20]
latest answer
If subsequently we get evidence that the deferred tax benefit can be availed, then we can recognise the asset.
rashid poonthala
CA Final
★ 31K+
1
131
impairment
Financial Reporting
answered on 21-Nov-25 15:32
Residual value to be given effect in the tenth year, but why it has been included in the 5th year cashflow computation [Video Time Stamp: 08:58]
latest answer
We purchased the machine in 2013. Evaluation is being done in 2018. So 5 years have already passed by.
magesh mathiyazhagan
CA Final
★ 22K+
1
119
depreciation and impairment
Financial Reporting
answered on 21-Nov-25 15:38
if impairment to the asset has identified. what about the depreciation treatment. whether it has been ignored. or considered first and the rest amount is to be impaired. let say 100000 is the carrying amount of the asset. 10 percent is depreciation. recoverable amount is 60000. so asset has depreciated to 90000 and then the impairment to the extent of 30000 is made or ignored depreciation and straight away impaired to the extent of 40000 to arrive at value of 60000 [Video Time Stamp: 08:18]
latest answer
First we compute the carrying amount as per respective standard before bringing the asset for impairment testing as per Ind AS 36. I think in some later lectures, I have mentioned this aspect as well. So, all depreciation, revaluation etc as per Ind AS 16 will be done first. And then the carrying amount would be compared with recoverable amount.
magesh mathiyazhagan
CA Final
★ 22K+
2
130
Liquidation expenses
Accountancy
answered on 23-Nov-25 10:28
What will be the entry if cash is also taken over by purchasing company for liquidation expenses [Video Time Stamp: 14:46]
latest answer
Cash will be treated like take over of other assets. And for liquidation expense we debit goodwill or capital reserve.
Priya Ravi
CA Inter
★ 55K+
1
113