Forums
overriding preferential creditors in SOA
Accountancy
answered on 24-Jan-23 09:21
why overriding preferential creditors are not considered in statement of affairs
latest answer
can you elaborate your query or share the question you are referring to
SK Png
CA Final
★ 0
1
533
Amendment for Nov 2023
Indirect Taxation
answered on 21-Jan-23 18:37
Sir, I purchased IDT lectures for Nov 2023 attempt , Kindly clarify whether those lectures are amended upto this may 2023
latest answer
Yes
Jaya Krishnan
CA Final
★ 7K+
1
610
Accounts from incomplete records single entry
Accountancy
answered on 21-Jan-23 18:23
In illustration 3 at statement of profit the current account balance as on 31-3-20X1 is deducted. What means that? What represent that ?
latest answer
it is nothing ,statement of profit derives from current account so if you add debit side of current account and subtract credit side you get profit
Sruthi sruthi
CA Final
★ 640
1
587
Amalgamation
Accountancy
answered on 23-Jan-23 17:06
Should the INTER OWING amounts between companies be reduced from 'Debtors & Creditors' while finding 'net asstes'?
latest answer
No.
Angel Maria Varghese
CA Final
★ 9K+
2
518
GDP fc & GDP mp
Economics
answered on 21-Jan-23 21:54
Sir, below I have attached the question and my solution to it. But, in the class video, it has been solved using the income method, the answer of which is different from that of mine. Sir, please let me know which one is right.
latest answer
Thanks a lot for explaining.
Varshaa M
CA Final
★ 35K+
5
2K+
change in accounting policy
Accountancy
answered on 23-Jan-23 19:58
change in accounting policy or introduction of new policy 1)creating a provision for doubtful debt which was not a practice in past 2)management decided to pay pension by a scheme which was not a practice in past
latest answer
Mentioned in As 5
Vamsi Krishna
CA Inter
★ 121K+
6
904
Long term Capital Gain on shares
Direct Taxation
answered on 22-Jan-23 09:37
If the LTCG crosses 5,00,00 then the basic exemption limit 2.5L will be applicable or not and also 100000 exemption limit applicable or not.
latest answer
Yes basic exemption only 100000 will be applicable
VV shetty
CA Inter
★ 5K+
7
515
Class for rule 42 and Rule 42 missing in ITC chapter
Indirect Taxation
answered on 21-Jan-23 10:13
Sir said he will discuss rule at end after sections but at end those classes are not there
latest answer
Welcome
Harshitha Kalidindi
CA Final
★ 51K+
3
624
Sales of goods act 1930
Corporate & Other Laws
answered on 21-Jan-23 10:05
Specific good and ascertained are same
latest answer
Specific goods mean goods identified and agreed upon at the time of contract of sale is made. Ascertained Goods are those goods that are identified in accordance with the agreement after the. contract of sale is made
Rohan Kumar
CA Foundation
★ 5
2
736
Analytical procedures
Auditing
answered on 20-Jan-23 21:57
Can anyone explain the first point given in the image
latest answer
Analytical procedure is establishing relationship between financial and non financial data to evaluate financial information. Auditor plans performing some trend analysis, reasonableness checks, ratios etc. to establish relationship and evaluate if there are any unusual fluctuations which could help him asses the ROMM. So when he performs analytical procedure he expects the relation to exist between the data he evaluates and the relation will continue, simply speaking, for non recurring or highly volatile items, ARP will not be suitable.
Devadharshini S
CA Final
★ 58K+
1
605