Forums
Loan provided to Investees
Financial Reporting
answered on 01-Oct-25 18:59
Sir in the second condition it is mentioned that business purpose is to invest solely for returns from capital appreciation, investment income or both. If loan provided to Investees,then how come it satisfies the second condition?Could you please clarify on this matter
latest answer
Investment income
Harini Desu
CA Final
★ 2K+
1
146
Inventory
Financial Reporting
answered on 04-Oct-25 17:35
Sir as mentioned in the last minute of the video , If inventory is sold reduce the same from retained Earnings .Could you please elaborate on this that why we need to reduce the same from retained earnings.
latest answer
When inventory is sold the difference between cost and selling price is recorded as profit. Now earlier the difference between fair value and cost/carrying amount is already recognised as a part of profit at the time of acquisition. To avoid double counting of profits, we reverse the profits earned.
Harini Desu
CA Final
★ 2K+
1
130
Illustration 6
Indirect Taxation
answered on 01-Oct-25 12:02
4th one Sir, even though he is dependent wholly on her, that is not for business purposes — it is only for marriage and personal reasons. Does supply cover this? [Video Time Stamp: 00:06]
latest answer
From supplier point of view, it is in the course or furtherance of business.
RIHAN P.R.
CA Inter
★ 120
1
147
Exam
Direct Taxation
answered on 01-Oct-25 12:02
Sir, is it necessary to write working notes and NOTES for exam along with the actual answer? Do they carry marks?
latest answer
Yes we should do that.
Dova Shaji
CA Inter
★ 520
1
138
Gain on disposal
Financial Reporting
answered on 29-Sep-25 10:17
Sir, if the asset was not reassessed at Rs. 30 lakhs but directly sold at Rs. 30 lakhs, will we show gain on disposal as 3.5 lakhs or 1 lakh (after deducting the balance c/f impairment loss)
latest answer
The difference between sale proceeds and carrying amount (in books) is recognised as gain in P&L. Reversal of impairment is not done in this case.
pooja lakshmi
CA Final
★ 2K+
1
193
About Account Formula
Accountancy
answered on 29-Sep-25 10:15
what is the formula for liability [Video Time Stamp: 00:00]
latest answer
Assets = Equity (capital) + liability Liability = Assets - Capital
Haneeksha SR
CA Foundation
★ 0
1
155
Consolidation Financial Statements
Financial Reporting
answered on 29-Sep-25 10:22
Sir, I have two doubts 1. As we are discussing cash flow statement for consolidated financial statement, why do we have to show Rs. 12.5 lakhs as investing activity (It is happening within the group right)? 2. The condition of change in ownership interest but which doesn't lead to loss of control to be shown as financing activity. Isn't it only for reduction of ownership interest or applies for increase in ownership interest as well?
latest answer
If control does not change - its in nature of financing activity. both cases.
pooja lakshmi
CA Final
★ 2K+
2
146
Margin
CFA
answered on 28-Sep-25 16:41
Is the margin quoted as the percentage on loan or on the Market Value of the security [Video Time Stamp: 17:13]
latest answer
MV of security
Neekir n.c.v
CFA L1
★ 0
1
107
Number of digits of HSN code
Indirect Taxation
answered on 01-Oct-25 12:03
In ICAI SM it's mentioned that - as per noification 12/2017, a registered person having aggregate turnover upto Rs. 5 Crores in the preceeding FY is exempt from the requirement of mentioning HSN code in a tax invoice. But we had discussed the limit of ₹1.5 crores in the class. Could you please clarify this difference?
latest answer
Upto 5 crore - 4 digit and beyond 5 Crore it is 6 digit.
Yug Bhattad
CA Final
★ 63K+
1
161
Corporate accounting CMA inter-2
Accountancy
answered on 29-Sep-25 13:23
Can anyone please solve operating activities in this question im unable to get answer for operating activities
latest answer
1
JAI AKASH
CMA Inter
★ 0
5
213