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Deduction as per books vs deduction as per Tax
Financial Reporting
answered on 19-Feb-26 10:56
Sir, in this question, the total cumulative expense recognized in the books is ₹4 crore, whereas the deduction claimed for tax purposes is ₹4.6 crore. How should the excess deduction of ₹0.6 crore be treated?
latest answer
there will be only deferred tax implication and no other accounting is required.
Seema Jain
CA Final
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3
119
SA 501: Audit Evidence Special consideration to the selected Items of Financial statement
Auditing
answered on 09-Nov-25 16:22
Mam, i am confused, whether SA 501 is Initial Audit Engagement or SA 510. Please clarify in this regard. In earlier video also, SA 501 is mentioned to be as Initial Audit Engagement, where i thought it might be pronounced by mistake. But now i am confused whether i learned it in right way or not. [Video Time Stamp: 04:57]
latest answer
501- is audit evidence- specific consideration for selected items. (Three items) . You can remember as it is just next to audit evidence standard. ( SA 500) And SA 510 , you can connect with 210. Engagements. 510 is initial audit engagement, opening balances.
Vinod Kumar
CA Inter
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1
193
NOTES
AFM
answered on 07-Nov-25 05:23
WHERE DO I GET THE CONCEPT NOTES [Video Time Stamp: 01:00]
latest answer
First chapter introduction there is something called LDR
Gopi cd
CA Final
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1
120
Valuation
CFA
answered on 07-Nov-25 00:10
As we know Lenskart is about to get listed but the P/E ratio of lenskart is 235 is the valuation justified?lot of IPOs valuations now a days are highly inflated but still they are oversubscribed like crazy on what basis these companies are valued? Or is it just VCs trying to exit by listing it at a higher price pls explain how these ipos valuation works
latest answer
Check Zomato LE
Dhakshana Dhakshana
CFA L2
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5
111
PMLA
Auditing
answered on 09-Nov-25 16:29
mam, i still wonder what would be the purpose of such declaration, where money laundering still happens even after such declaration. its like swearing to god that i will not eat sugar upfront and at the backend, consuming icecreams. is there cases available illustrating such scenario? [Video Time Stamp: 08:06]
latest answer
Even though companies or individuals give such declarations to comply on paper, money laundering and benami ownership can still occur through indirect or proxy mechanisms. So yes — such declarations reduce risk but don’t eliminate misuse. However, they help to Create legal accountability — false declaration = punishable Enable auditors to question inconsistencies if the declared ownership doesn’t match the financial evidence. Auditor cannot rely solely on management’s declaration. Needs to perform substantive procedures — e.g., tracing funds, verifying beneficial ownership via documentation, related-party checks, and share transfer patterns.
Vinod Kumar
CA Inter
★ 11K+
1
114
significant events that cast doubt on entity's ability of GC
Auditing
answered on 09-Nov-25 16:31
significant events that cast "doubt" on entity's ability of GC.....doubt in whose POV ? auditor management or users [Video Time Stamp: 03:36]
latest answer
First , management. Then in course of doing audit, also auditor if he comes across any indication
Gayathri
CMA Inter
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1
126
if management has not assessed GC
Auditing
answered on 09-Nov-25 16:33
if management has not assessed GC , then how can they know the events effecting GC as they have not assessed in first place ? [Video Time Stamp: 07:06]
latest answer
If they have not assessed , they are wrong in preparing financial statements on going concern basis . So it’s the duty of the auditor to check if they have assessed, n if not assessed need to question on what basis they prepared financial statements. If no satisfactory answer, there cold definitely be modification to his report
Gayathri
CMA Inter
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1
135
SA 700 QUESTION-1
Auditing
answered on 09-Nov-25 16:36
Ma'am , if that's the case , should I write only the going concern part, or do I need to draft the entire audit report like in real life?
latest answer
No you need to answer only the specific paragraph from the audit report.
Priya Dharshini
CA Inter
★ 720
1
114
DT
Direct Taxation
answered on 17-Nov-25 17:51
Whether there any changes for Jan 2026 attempt. Has study material changed? Is there any major changes in amendments after writing sep 2025 attempt?
latest answer
No it is the same.
Ashwini Ashu
CA Final
★ 10K+
1
134
AFM
answered on 06-Nov-25 09:18
Where can i get the pdf which is used to explain topics in the revision video sir ? [Video Time Stamp: 34:04]
latest answer
Shared from *1FIN by Indigolearn* AFM https://1fin.link/resource/e558d2bbafb64478bb9ca83548fd9cbe
Akshaya Vk
CA Final
★ 1K+
1
125