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Component not audited
Auditing
answered on 17-Mar-26 10:12
Under the concept report in case of component not audited there is para which state “generally the financial statement of all components included in consolidated financial statement should be audited or subject to audit procedures in the context of multi location group audit” in this para what is mean by subject to audit procedures in the context of multi location group audit ? [Video Time Stamp: 02:56]
latest answer
Even if a component is not separately audited, the group auditor performs necessary audit procedures on that component to obtain sufficient appropriate audit evidence for consolidation. These procedures may include: Analytical review,testing selected transactions balance,Reviewing consolidation adjustments. Basically full audit will not be required and also the entities cannot go unchecked.
Mhd Mmp
CA Final
★ 305
1
36
Inter exam
Exams
answered on 10-Mar-26 13:37
Hai I have completed my ca inter group 1 by 2019 in old syllabus...now I had a doubt about my exam ... what are all the papers I have to write if I appear in dec 2026??
latest answer
Thank you so much for your immediate response sir...
amrutha pushkala
CA Inter
★ 200
6
80
Security valuation
AFM
answered on 09-Mar-26 21:43
How come the numbers 445.6 and 214 4 un denominator in alt 1 and 2 last part of solution
latest answer
Retaining earning is 200 and 50% dividend pay out then 50% is retained i.e 14.4 if you total it out 214.4
Gauri Shete
CA Final
★ 4K+
1
42
IRR Rate assumption
Accountancy
answered on 09-Mar-26 10:22
Sir, If we had assumed 15% initially, then PV of MLP would've been less than FV of the asset, Then we would've considered 2L only.The also in Iease schedule Table, We would've gotten the Closing balance higher than GRV. Then also we had to re calculate the rate, right?? Here you mentioned it Only if FV of the Asset is less than the PV of MLP. then only we have to compute new rate. [Video Time Stamp: 12:47]
latest answer
We take lower of PV of MLP and FV. So if PV of MLP is less than FV, then we will consider PV and not Fairvalue.
Jagadeesh Jaidev
CA Inter
★ 645
1
45
Number of questions to be solved
AFM
answered on 10-Mar-26 10:52
Hi sir. Since we have a huge number of questions in P600, is there any strategy to pick the selected number of questions that is required to be practiced during 1st or 2nd revision. And also can the important question list be used during 1.5 days preparation?
latest answer
U can never solve 100% before exams
Vidyashree Anand
CA Final
★ 0
4
52
Illustration 38
AFM
answered on 08-Mar-26 19:53
Sir, I have a doubt regarding the determination of the optimum replacement period. Why is the cost of the new machine not considered as a factor in this decision? I believe that if the cost of the new machine remains the same across all years, it should also be taken into account while determining the optimum replacement time. Could you please clarify this point?
latest answer
If some is common across all years would you not eliminate it? When finding out eac we are trying to compare opex and not capex as capex is common
Mhd Mmp
CA Final
★ 305
1
36
Net Owned Fund and Non-Performing Asset
Auditing
answered on 17-Mar-26 10:15
As per the glide path prescribed by the Reserve Bank of India, the minimum Net Owned Fund (NOF) requirement for an Investment and Credit Company is ₹2 crore currently, which must increase to ₹10 crore by March 2025 and remain ₹10 crore by March 2026. For the May 2026 examination, should we check whether the ICC has more than ₹2 crore or ₹5 crore NOF for obtaining the Certificate of Registration (CoR) from RBI? Further, for classification of Non-Performing Assets (NPA) in middle-layer NBFCs, should the overdue period be calculated as 180 days or as per the glide path requirement of 90 days by March 2026?
latest answer
For May 2026, the final regulatory norms post glide path are applicable. Accordingly, (i) Minimum NOF for ICC = ₹10 crore, and (ii) NPA classification = 90 days overdue.
Shinisha Rose R
CA Final
★ 5K+
1
46
Registration with RBI
Auditing
answered on 22-Mar-26 14:23
A company’s principal business is financial activity as it satisfies the 50-50 test, i.e., financial assets constitute more than 50% of its total assets (net of intangible assets) and income from financial assets constitutes more than 50% of its gross income. However, the company’s Net Owned Fund (NOF) is less than ₹2 crore. In this case, is the company required or eligible to obtain registration as a Non-Banking Financial Company (NBFC) from the Reserve Bank of India?
latest answer
Even after satisfying the principal business criteria, the company cannot be registered as an NBFC because it fails to meet the minimum NOF requirement, which is a mandatory pre-condition.
Shinisha Rose R
CA Final
★ 5K+
1
39
Illustration no 4
AFM
answered on 08-Mar-26 15:36
In the first line of the solution its mentioned as P Ltd will go on LONG. How to identify whether its long or short position. [Video Time Stamp: 39:18]
latest answer
FRA long
Vidyashree Anand
CA Final
★ 0
1
31
Amount of Residual Value Guarantee to be considered in Liability
Financial Reporting
answered on 15-Mar-26 21:32
In this illustration, only 8000 has been considered even though the guarantee is for 20000. Why do we not consider the full 20000 for liability measurement? the estimate of owing 8000 is just an estimate, would it not be prudent to consider the whole 20000? [Video Time Stamp: 07:22]
latest answer
I Expect exam questions to be more clearer.
Vishnu Muraleedharan
CA Final
★ 32K+
3
37