Forums
Set off
Direct Taxation
answered on 13-Dec-25 11:00
Opted 115 BAC Loss from one specified business 1lakh Income from another type specified business 50k Income from same specified business 50k What is treatment ? In case of not setoff under 115 BAC Is it carry forwarded ?
latest answer
We cannot set off the loss.
Sri ram Pothineni
CA Inter
★ 11K+
1
169
Opinion or conclusion
Auditing
answered on 13-Dec-25 10:10
Ma'am, in beginning you said that we give conclusion in such type of engagement as we are giving limited assurance then why are we using the word opinion everywhere ?
latest answer
For the purpose of understanding the proper difference between audit and review. With similarity in words, the meaning can be differentiated better.
Hrishikesh Pradhan
Qualified CA
★ 18K+
1
147
Gain from sale of land
CFA
answered on 13-Dec-25 17:42
Gain from sales of land is inflow of cash, why we will reduce? [Video Time Stamp: 17:30]
latest answer
Agree with Avinash’s comments. Gain from sale of land represents only the difference between sale proceeds and book value of land. It is reduced as we don’t want to include it in cash flow from operations. It is shown in cash flow from investing activities
Ganesh V
CFA L1
★ 0
2
321
Wages payable query
CFA
answered on 13-Dec-25 17:38
In case of wage payable, 2016 it is around8000 and2017 it is reduced which means the cash for2017 must be increased right? Why it is reduced? [Video Time Stamp: 15:41]
latest answer
Agree with Avinash’s explanation. Wages payable is a current liability and when it reduces it leads to cash outflow. Therefore we have reduced it
Ganesh V
CFA L1
★ 0
2
178
Benefits
Financial Reporting
answered on 22-Dec-25 15:36
Hello sir, the question says benefits are valued at 1% of the salary right. So accordingly if we calculate, the total benefits should be per year would be like this right? Isn't it later discounted using the rate applicable? Isn't it wrong if we take 131 for 5 years equally when it is based on salary and when the salary is changing from year to year? Please note that I have directly considered the salary increment of 7% compunded annually 10,000 *1% = 100 11,449*1% = 114 12,250*1% = 123 13,107*1% = 131 14,026*1% = 140 [Video Time Stamp: 07:48]
latest answer
The benefit is payable based on final year salary. So we estimate final year salary and make the provision
Shreyas Nayak
CA Final
★ 0
1
202
ill 5
Costing
answered on 16-Dec-25 15:29
Sir in the question they clearly mention the normal loss percentage of 5 i.e 250. Then why we have to seggregate 250 into 150 normal loss and 100 abnormal gain. Qn mentions 100 abnormal gain. [Video Time Stamp: 13:30]
latest answer
Expected loss is 250 (Normal) Actual loss is 150 So we lost less than expected (in other words gained - abnormal) If actual loss would be 300, then abnormal loss would be 50.
21SCO08 mahalakshmi
CA Inter
★ 1K+
1
135
Arbitration
AFM
answered on 12-Dec-25 13:48
Sir, In these type of question for the purpose arbitration, is it necessary that loan must be taken and deduction of interest, Can't we solve without assumption loan taken? [Video Time Stamp: 04:07]
latest answer
Arbitrage happens only when there is a buy and sell If u have to buy on spot u need money for which u need to borrow
Sai Eswar Kolli
CA Final
★ 30K+
3
199
Departure from Compliance
Financial Reporting
answered on 26-Mar-26 11:55
Hello Sir, can you please give an example of Departure of compliance. I am not able to relate to this concept. If an entity has not disclosed something as per the Ind AS Framework, or has applied an inappropriate Accounting policy, the financial statements do not show a true and fair view in that case right...? Then how does the entity supposed to prove that the financial statements are true and fair even though they have made a departure from the Ind AS Frame work? [Video Time Stamp: 13:12]
latest answer
departure from complain with requirement for example: management value at inventory as per ind as 2 but management decide to value inventory at fair valu for some other reason(assume) and to provide reason, nature of deviation and its acceptable and also provide disclosed the financial statement
Shreyas Nayak
CA Final
★ 0
3
153
Fixed OH absorption rate
Costing
answered on 16-Dec-25 15:27
Sir, why do we calculate the Fixed OH recovery rate when the expense is fixed. Irrespective of whether we produce at normal capacity or whatever unit lower than normal capacity, Fixed OH should be fully absorbed, isn't it so? [Video Time Stamp: 02:30]
latest answer
If planned output is 10,000 with FOH of 1,00,000 and if actual output is only1,000 and entire FOH is abosrbed to production, the cost per unit will be 100 instead of 10. So to reflect a better picture, only 1000x10 is considered as cost of product and rest is expesed to PL.
Vinod Kumar
CA Inter
★ 11K+
4
441
Initial Margin
AFM
answered on 12-Dec-25 10:20
Sir, why did we considered Mean + 3SD, why not 4SD or 2SD? How did we make this assumption? [Video Time Stamp: 00:55]
latest answer
Ok Sir, Understood
Sai Eswar Kolli
CA Final
★ 30K+
2
205