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As 4.
Accountancy
answered on 29-Nov-20 20:39
Sir only legal case filed by a client before 31 march, is it a any condition exist or can say require any provision based upon only legal case file
latest answer
Ok ji
DEEP VICKY
CA Final
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630
As 18
Accountancy
answered on 30-Nov-20 08:47
Example Common directorship?
latest answer
two companies are not considered to be related simply because they have a director in common, (unless the director is able to affect the policies of both companies in their mutual dealings) Director is the related party of a company.
Krishna kumar
CA Final
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605
In this case, does Auditor have to
Auditing
answered on 29-Nov-20 17:52
Communicate to management such matter before qualifying his report?
latest answer
Yes.
Kumarjit Dey
CA Inter
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1
628
Individual module
Others
answered on 29-Nov-20 18:48
When will u provide individual module
latest answer
waiting for it ..Thank you so much in advance
Nanthini Shanmugam
CA Final
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6
643
Use of Smart Band
Exams
answered on 29-Nov-20 15:48
Sir.. Does ICAI allows use of Smart band/Smart Watch instead of a watch while attending examinations??
latest answer
No
Ajay Kumar Manghat
CA Inter
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1
663
Doubt
Accountancy
answered on 29-Nov-20 17:55
Sir is it compulsory to open suspense account (like ledger) in this question .
latest answer
Better to open.
Sri kanaga Varshini
CA Final
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Partnership sale to company illustration 6
Accountancy
answered on 29-Nov-20 17:57
Why there is no adjustments for joint life policy and goodwill?
latest answer
Joint life policy is already surrendered. So it will no longer appear in balance sheet. I did not understand your query on goodwill.
vinay ajith
CA Final
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568
As-20
Accountancy
answered on 29-Nov-20 15:49
In computation of basic EPS (NUMERATOR) Will we deduct transfer to statutory reserves?
latest answer
No.
Bharath sha
CA Final
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1
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As 29 - understanding this whole contingent liability, provision, and reimbursement thing
Accountancy
answered on 29-Nov-20 20:03
X Ltd is battling a legal case in court since 2015. Up until 24th May, 2017, X Ltd's legal team provided absolute assurance that there would be no outflow of Future Economic Benfits (FEB). On that date, the tables have turned in court and the management, fearing outflow of FEB is not remote, deems it wise to disclose the matter as contingent liability in footnote of FY 17-18's Balance Sheet. Y Ltd, an associate of X Ltd, ever since the start of the case in 2015 has been constantly reassuring X Ltd that it would reimburse the legal expense if the matter at court ever turned upside down. On 3rd June, 2018, FEB outflow became inevitable as per ultimate declaration of court, and X Ltd is forced to made a provision for it. By end of March, 2020, it paid a whooping amount of Rs 200 Crore to the plaintiff. Still 300 crore is left to be paid. Rs 100 Crore is reimbursed by Y Ltd. Reimbursement of balance amount is also virtually certain. What shall be the treatment in financial Statements for YE 2020
latest answer
Ok. Sir.
Kumarjit Dey
CA Inter
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2
600
Business environment
Others
answered on 29-Nov-20 11:41
Please call the answer to the question in the image with reason
latest answer
Ok sir
Aman Mahajan
CA Final
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