Forums
Is Discontinuing Operation (as per AS 24)
Accountancy
answered on 29-Nov-20 11:19
a form of Restructuring of Business [1st point in attached]
latest answer
There could be a case during restructuring which involves discontinuing of operation.
Kumarjit Dey
CA Inter
★ 4K+
1
567
AS 29 + AS 4
Accountancy
answered on 29-Nov-20 11:33
XYZ Ltd paid Diwali Bonus, as a customary practice, to its employees totalling Rs 50 Lacs in 2019. As it is a usual practice, and as the entity will have to pay again next year, the managemnet decided to make a provision for the same of Rs 50 Lacs in Nov, 2019. In May, 2020, 2 months before date of FS approval, the management realized that as the number of employees increased since the provision was made in Nov, it will have to pay more bonus. As per management's judgment, 5% increase in bonus payment is estimated. Is the entity's decision to make provision in accordance with AS 29? Should the entity recognized, if at all, the 5% increase as provision in 2020 or 2019? Please comment, Sir.
latest answer
Yes.
Kumarjit Dey
CA Inter
★ 4K+
3
623
buyback
Accountancy
answered on 29-Nov-20 11:25
in case crr in buyback what is the order of creating crr In some cases crr created like Profit and loss a/c Revenue reserve In some Other cases Securities premium General reserve
latest answer
P&L will be last.
subramanyam yendakuarthi
CMA Final
★ 4K+
2
661
Doubt
Accountancy
answered on 29-Nov-20 17:58
Sir in cash book., Cheque received us first treated as cash receipt right? Is this is true for all cases?
latest answer
Bank To Party.
Sri kanaga Varshini
CA Final
★ 3K+
3
663
RDD
Accountancy
answered on 29-Nov-20 11:24
Since provisions and reserves are two different concepts as provision is charge against profit and reserve is appropriation of profit. Then does provision for doubtful debts and reserve for doubtful debts different or same?
latest answer
Using reserve is not appropriate. Though you may get it as reserve in the question.
Hrishikesh Ransing
CA Final
★ 4K+
3
705
What should we carry with ourselves?
Exams
answered on 29-Nov-20 08:09
Apart from the basics like writing board, pen, pencil, admit card, water bottle, hand sanitizer and wearing mask, do we need to take anything else with is like any declaration form or anything ?
latest answer
Thank you sir.
Kumarjit Dey
CA Inter
★ 4K+
2
819
Small company
Corporate & Other Laws
answered on 29-Nov-20 10:51
Sir in this question the Small company has 2.5 crore as turn over . As per law small company can have turnover up to 100 crore then why they have not classified this company as small company
latest answer
Thank you
Sri kanaga Varshini
CA Final
★ 3K+
4
648
As 4
Accountancy
answered on 29-Nov-20 18:40
As per this AS whether alll non adjusting events are required to be diclosed? Treatment of contigent liability happening after balancesheet date.
latest answer
Thank you so much sit
Sajan Gangadharan
CA Final
★ 9K+
9
672
Optout
Exams
answered on 11-Dec-20 14:52
I'm from chennai my law n costing paper were rescheduled..If I opt-out now whether I'm able to give my grp1 in Jan or not?
latest answer
Tq sir
Nalina Sundaramoorthy
CA Inter
★ 0
6
659
Partnership retirement
Accountancy
answered on 29-Nov-20 15:48
Why the existing goodwill has reversed by revised profit sharing ratio.while net profit has reversed by old profit sharing ratio
latest answer
To be revised means you have to give effect to the revision.
S.P. RAYAN
CA Inter
★ 3K+
4
687