Forums
Working capital management cash cost method
Financial Management
answered on 11-Feb-23 19:35
In this question i have issue that while making p&l Wages are paid for 11 months as 1 month is in arrears And in solution wages of 11 months is considered My main question is while calculating respective costs such as cost of production or sale --- Do we follow CASH BASIS and IGNORE ACCRUAL BASIS
latest answer
Question directly mentioned to work it on cash cost basis It is done accordingly But, if cash method - it will be mentioned Otherwise accrual basis is preferred
Abhishek Bansal 2002 AK
CA Final
★ 2K+
1
459
Sir why this happen sir revision in phar book able to recollect every thing but stop revision then feeling I forget all whatever we study last months why this happened sir
Exams
answered on 11-Feb-23 19:53
Sir
latest answer
Thats why you need to continuous revisions.
R K
ACCA Skill
★ 9K+
5
539
Dividend
Corporate & Other Laws
answered on 11-Feb-23 22:39
I didn't understand this para , y discount on issues of shares is not allowed
latest answer
In the given statement depreciation is charge against profits. So they have linked this topic to issue of shares at discount.
Reetikaa R
CA Final
★ 7K+
4
532
Gift vouchers
Others
answered on 11-Feb-23 09:13
Sir/mam, i have registered in gift vouchers for foundation exam and cleared. How to get that gift voucher?
latest answer
Only for students who have enrolled for a subject or entire course.
Vijay K
CA Inter
★ 9K+
4
564
Indian contact act
Corporate & Other Laws
answered on 10-Feb-23 15:25
Can anyone explain this In case of fraudulent silence, contracts are not voidable if the party whose consent was so obtained had the means of discovering the truth with ordinary diligence
latest answer
e statement "In case of fraudulent silence, contracts are not voidable if the party whose consent was so obtained had the means of discovering the truth with ordinary diligence" refers to the concept of fraudulent silence in contract law. It means that if one party deliberately fails to disclose material information to the other party during the formation of a contract, this can be considered as fraud. However, if the party whose consent was obtained through fraudulent silence had the means to discover the truth about the material information with reasonable efforts, the contract may not be considered voidable. In other words, the party who was not fully informed has a duty to exercise ordinary diligence to discover the truth about the material information that was not disclosed to them. If they fail to do so, then they may not be able to use the fraudulent silence as a basis to void the contract. It's important to note that the concept of fraudulent silence varies between legal jurisdictions, and the specific laws and rules in each jurisdiction should be consulted to fully understand the implications of this principle. shivaji hari can you give example for this Sure! Here's an example to help illustrate the principle of fraudulent silence in contract law: Imagine that a person, John, wants to sell his car to another person, Jane. John knows that the car has a faulty transmission, but he fails to disclose this information to Jane when negotiating the sale of the car. If Jane had the means to discover the truth about the faulty transmission with ordinary diligence (for example, by taking the car for a test drive or having a mechanic Here's an example to help illustrate the principle of fraudulent silence in contract law: Imagine that a person, John, wants to sell his car to another person, Jane. John knows that the car has a faulty transmission, but he fails to disclose this information to Jane when negotiating the sale of the car. If Jane had the means to discover the truth about the faulty transmission with ordinary diligence (for example, by taking the car for a test drive or having a mechanic inspect it), and she failed to do so, then the contract between John and Jane may not be considered voidable due to John's fraudulent silence. However, if Jane had no means of discovering the truth about the faulty transmission (for example, if John had taken the transmission out of the car before Jane saw it), then the contract between John and Jane may be considered voidable due to John's fraudulent silence. In this case, Jane would have a valid basis to void the contract and demand a return of any consideration that she provided to John in exchange for the car.
SUBODH M JAIN
CA Final
★ 2K+
1
478
Illu 10 consolidation
Accountancy
answered on 11-Feb-23 20:09
They are saying no adjustnent in respect of inventory As there will be no impact on p/l of current year.but here the opening balance of reserves doesn't contain imapct of inventory (12000) shouldn't we adjust that
latest answer
https://youtu.be/ZknwanFsttU solved here.
Gauri Shete
CA Final
★ 5K+
1
519
Doubt
Exams
answered on 10-Feb-23 14:10
In Exam While writing section we know section,sub-section but we don't know clause can we write it. Like wise we know section but don't know sub-section & clause can we write it.
latest answer
If you remember section, quote. Else do not quote. Same applies to subsection and clause. Also note that quoting subsection without section does not add any value.
Fathima Hamtha Hussaina
CA Final
★ 12K+
3
678
Section 52 and Section 63 of Companies Act 2013 and Accountancy
Accountancy
answered on 10-Feb-23 13:16
As per section 52 , Securities Premium may be applied for nullifying Premium on Redemption of preference shares. But , ICAI Material has never transferred Premium on Redemption to Securities Premium A/C , instead it has always transferred it to ,Profit and Loss A/C. Can I do method as in Section 52 , in exams ??
latest answer
Yes.
Varun Mulay
CA Final
★ 39K+
3
1K+
Logical reasoning
Maths & Stats
answered on 10-Feb-23 21:01
Please solve this problem with explanation
latest answer
Yes zero we are getting
SUBODH M JAIN
CA Final
★ 2K+
6
776
CASH PURCHASE AND SALE and LATER ON RETURNED WHERE TO BE SHOWN?
Accountancy
answered on 10-Feb-23 15:23
Sir, If we have done cash purchase or cash sale and later on those goods are returned , then those will not be entered in RETURNS BOOK,, then where will these transactions be recorded sir ? . What will be the Journal entry if we returned goods to our supplier which we had purchased on a cash biases ? If we are returning an asset , it will not be shown in purchase return book,, then where it will be shown. Why I am asking you this, video lecture is silent about these transactions where to be recorded. Please guide me sir.
latest answer
Thank you sir.
Thankachan Jimmy
CMA Inter
★ 0
7
3K+