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Branch account
Corporate & Other Laws
answered on 23-Jan-23 17:01
Books of accounts of branches are prepared and stored in branch itself and summarised returns are periodically sent by branch to head office. Is the above statement true
latest answer
It depends on case to case basis
Krishnan K
CA Inter
★ 5K+
1
463
Functions of Accounting
Accountancy
answered on 26-Jan-23 18:18
It says that Accounting measures past performance and PRESENT financial position. Question is this , without preparing current period's Profit and Loss a/c, how can it measure PRESENT FINANCIAL position ? Please guide me
latest answer
It is true that Accounting measures past performance and PRESENT financial position. Past performance means the entity's performance in the past accounting year is reflected thought P & L. The P & L can be prepared only when the past period ends and it shows the performance of the entity in the past period. Present Financial Position refers to the current position of the entity through its Balance Sheet. It shows the entity's position as on a particular date. So, Past Performance - P & L Present Position - Balance Sheet And, it is true that Balance Sheet can be prepared only after the preparation of the P & L
Thankachan Jimmy
CMA Inter
★ 0
3
443
Managerial remuneration - account
Accountancy
answered on 23-Jan-23 09:21
For the computation of managerial remuneration the questions quote two depreciation of a company One as per the act and another what the company has charge from p&l So does it possible that the depreciation as per the Act and provided depreciation would be different??
latest answer
Yes that difference may due to some provisions of act and depreciation in income tax allows only wdv method unless there is exemtion by act ex for electricity company Refer AS 22
Atharv Sankliya
CA Final
★ 3K+
3
418
CARO 2020 inventory verification
Accountancy
answered on 30-Jan-23 17:20
What does the clause on inventory of Caro 2020 mean by discrepancy of 10% or more ??
latest answer
Difference between what is shown in inventory records vs what is physically present.
Atharv Sankliya
CA Final
★ 3K+
3
447
Valuation under customs - rule 7
Indirect Taxation
answered on 23-Jan-23 13:25
Which value will be considered if same quantity is sold to 2 people?
latest answer
Lowest Price may be taken
Priya Namburi
CA Final
★ 2K+
2
494
Capital budgeting
Financial Management
answered on 23-Jan-23 09:07
In calculating payback period , do we consider salvage value too as inflow
latest answer
Than you
Krishnan K
CA Inter
★ 5K+
4
674
Analytical Procedures
Auditing
answered on 23-Jan-23 17:07
Abnormal fall in the cost of manufacture or that in the administrative cost ,apart from economy in expenses, there could be no provision or less provision for expenses incurred in the year. What is the meaning of economy in expenses here ?? Can anyone pls explain what is the line actually means ? Reference: ICAI study module page 8.7 , 6th paragraph. Please solve this doubt ð???
latest answer
arising due to economies of scale.
Neha Baliga
CA Inter
★ 16K+
2
586
Analytical Procedures
Auditing
answered on 23-Jan-23 08:18
What is the meaning of "requisitions entered before the inventories are issued"?
latest answer
Thank you so much ð???
Neha Baliga
CA Inter
★ 16K+
2
491
Borrowing cost capitalisation IND AS 23
Financial Reporting
answered on 23-Jan-23 07:38
Sir can u pls explain how the values in product column are derived
latest answer
principal of 20 is outstanding for 12 months 5 is outstanding for 9 months etc the last column is the product of both we use this in the weighted average concept
Thanusha Lakshmi
CA Final
★ 3K+
2
491
chapter wise sales
Others
answered on 13-Mar-26 13:02
As only 3 months left , request for chapter wise sales some topics to get cleared
latest answer
Team will reach out to you.
Harshitha Kalidindi
CA Final
★ 51K+
7
617