Forums
Foreign exchange
Financial Reporting
answered on 10-Oct-25 20:47
Sir, Foreign currency transactions are recorded in functional currency in initial recognition. what if company incurs expense in presentational currency.. it should also be recorded in functional currency ? [Video Time Stamp: 00:44]
latest answer
Yes
Akhil Reddy
CA Final
★ 6K+
1
120
Number of Future Contracts to be Shorted
AFM
answered on 10-Oct-25 21:45
Sir in the iv Part of the Question, they asked the number of future contracts the investor should trade when Beta was 0.6. I have done it as follows, Number of Contracts = 1,88,54,860(Portfolio Value)*0.6(new Beta) divided by 11,98,856(Value of Index)= 9.43. Is it right Sir? And also to get the Number of futures to be shorted, i have done 13.35-9.43= 3.91. [Video Time Stamp: 16:36]
latest answer
yes but slightly convoluted, pls look at sugg answers too. they want u to adopt a methodology that they prescribe
Murali Thripuraboina
CA Final
★ 3K+
1
122
Material costing doubt
Costing
answered on 21-Oct-25 17:16
Why have we derived the value of defective goods from 4680000 that amount includes profit . When the question has asked defective goods should be sold at 10 percent less than the cost of production. And cost of production won't include profit
latest answer
The question mentions that it will be sold at 10% less than selling price.
Chrisan
CA Inter
★ 145
1
133
SA 600
Auditing
answered on 13-Oct-25 15:59
Mam you have mention in the video that has been completed. SA 600 Using the work of another auditor where is it? [Video Time Stamp: 00:48]
latest answer
Thank you mam
21SCO08 mahalakshmi
CA Inter
★ 1K+
3
141
Is this a Monetary or Non Monetary Grant ?
Financial Reporting
answered on 10-Oct-25 14:27
Govt gave land at Concessional/Nominal rate on a leasehold basis and the entity has padi ₹50k. So this is a TRANSFER of Non-monetary GRANT at concessional rate or Monetary GRANT ( Related to Assets = Non-Depreciable ). BIt confused Sir. Could you give an explanation? [Video Time Stamp: 00:01]
latest answer
Land or right to use land is non monetary grant.
Mohanbabu N
CA Final
★ 3K+
1
127
Place of supply u/s 13(2) or 13(6)
Indirect Taxation
answered on 27-Oct-25 22:26
If a person (from Delhi) is providing consultancy services w.r.t multiple countries to a Korean company. And also a part of it relates to India. Will section 13(2) apply in this case? Resulting in place of supply being Korea? Or section 13(6) will apply and place of supply will be India even though it's not covered under subsection (3)/(4)/(5)?
latest answer
Yes.
Yug Bhattad
CA Final
★ 63K+
3
150
Common mistakes
Accountancy
answered on 13-Oct-25 22:36
Sir i dont get that how capital reserve is getting debited for liquidation expense. [Video Time Stamp: 10:30]
latest answer
If the buying company incurs liquidation expenses - it's like an additional payment. Say net assets = 1000 Purchase consideration = 900 Capital reserve = 100 On top of it the buying company incurs liquidation expenses of Rs. 20. So in effect the company incurred 920 to acquire net assets of 1000. So capital reserve is 80. Since we recorded capital reserve at 100, now we are debiting it by 20.
Ajay Kumar
CA Foundation
★ 1K+
1
166
funded exposure?
Auditing
answered on 13-Oct-25 15:47
Ma'am, the words 'funded exposure' here means drawing power or sanction limit? [Video Time Stamp: 08:38]
latest answer
So it’s already utilised exposure of 5cr and above
Rahul Anand
CA Inter
★ 6K+
2
122
AMALGAMATION - ILLUSTRATION 1
Accountancy
answered on 13-Oct-25 22:38
In the material, it is not given that Y Ltd made entries at par value but in answer it is taken par value not intrinsic value. Why is that ? [Video Time Stamp: 15:03]
latest answer
The study material has made an assumption that it is to be made at par value. Refer illustration 3 of ICAI material
Ajay Kumar
CA Foundation
★ 1K+
1
152
Lease Schedule
Accountancy
answered on 13-Oct-25 22:42
in example 3, for year 5, payment is taken at 50000 but in the textbook it is 75000. it says assuming zero residual value, but 25000 is considered [Video Time Stamp: 12:33]
latest answer
It looks like a typo error in ICAI material. All these variations have been covered in class- That is more than sufficient.
Ritu Kotian
CA Inter
★ 19K+
3
147