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AUDIT: CH1- Appointment of the Auditor.
Auditing
answered on 22-Jul-25 18:12
Good Morning mam/sir, in this lecture, it was clarified that the members of the company cannot directly interfere in the day to day operations of the company and hence they are not sure whether the statements provided by the Management/ BOD are reflecting a True and Fair view of the state of the company. Given the above situation, the MEMBERS appoint AUDITORS. This was taught as part of this lecture, but on the contrary, what earlier in Corporate Law subject we were taught was the BOD appoints the AUDITOR in consultation with the Member. are both the situations same?
latest answer
oh i understood
Vinod Kumar
CA Inter
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Investors Expected Rate of return
AFM
answered on 22-Jul-25 06:21
Sir, since investors’ expected rate of return represents the return they demand from the company, which is effectively the company’s cost of equity (Ke), then why are we again calculating Ke separately using EPS, retention ratio, and ROE? Doesn’t the expected return itself reflect Ke? and if the question didn’t specifically ask for 'cost of equity', we would have directly taken the investor’s expected return as Ke, right? So, how do we decide when to treat it as Ke and when to treat it as ROE (r) [Video Time Stamp: 05:20]
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Ke roe
Murali Thripuraboina
CA Final
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260
Approach to Problems and Key Terms Summary
Financial Reporting
answered on 21-Jul-25 21:04
@Time Stamp 9.24 - Net Assets <= Asset Ceiling 1.Sir I could not able to understand why there is asset ceiling and restriction to net assets. 2.What does the term Net Assets mean here? [Video Time Stamp: 09:15]
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Net asset is what is left with the plan. We can recognise asset more than this amount since we wont get more than this amount.
Harini Desu
CA Final
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199
Example
Indirect Taxation
answered on 22-Jul-25 13:48
Now, let us say i want to travel to assam through Jammu Kashmir and the flight had stopped in let us say China or nepal and then headed to Assam, so is baggage declaration form applicable to all the passengers as they boarded domestic flight but halted in internation borders
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Ok sir !!
Hrishikesh Pradhan
Qualified CA
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218
Query
AFM
answered on 21-Jul-25 20:11
Sir, How come Deutsche Bank will pay the 1000 amount to student B if there is no instrument.?? [video Time Stamp: 00:10]
latest answer
Okay Sir. Thank you.
K Vamshi
CA Final
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248
Place of Supply
Indirect Taxation
answered on 22-Jul-25 11:21
Sir In this Question point 1 Question is about Determine place of supply of Transportation services right! Then why answer is given for export of goods
latest answer
Right
Pradeep Ravikumar
CA Final
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206
Part 5
AFM
answered on 22-Jul-25 12:17
Sir, In illustration 10, first we short the shares of A ltd for 2 lakhs, when the shares appreciated by 3% (moved in opposite direction), we added this 3% along with the shorted amount and we got a value of 2.6 lakhs. But, in this question, we have shorted the NIFTY and when it raises (moved in opposite direction), we are subtracting the change from the NIFTY value (i.e., 1950-39). What is the reason behind this. If we increase the value of NIFY instead of decreasing, following what we did in illustration no. 10, the revised NIFTY short will be 1989. Equity will be the same 6669. Then the difference between these two will be 4680 (6669-1989). The revised beta will be **0.9122** (4680/5130). Correct me if I went wrong anywhere. [Video Time Stamp: 25:50]
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Ok Sir, understood. Thank you.
Abhijith K B
CA Final
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247
Business
Financial Reporting
answered on 21-Jul-25 15:01
What does Substantive process means [video Time Stamp: 08:10]
latest answer
If there are no outputs at the acquisition date but if there are organised workforce and critical processes which sufficient to convert the inputs into future outputs, the process is deemed substantive.
Harshini Kanush
CA Final
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219
CA Final
Exams
answered on 21-Jul-25 14:01
Cleared CA Final. Thanks for the support provided through the forum.
latest answer
Congratulations & Best wishes!
Christeena Ambel
CA Final
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250
objectives of auditor
Auditing
answered on 22-Jul-25 10:07
what is mean by independence in appearence mam
latest answer
Audit enhances the credibility of financial statements. So it needs to be done by a person who is not connected to the business of the client which we refer are independent. So when he is actually not having any conflict, we call it to be independence of mind. But that’s not enough. Third party who is going to Rely on the FS should also believe that he is independent of the entity. So he needs to appear independent. Example- You might be very very independent and ethical. But if you do audit of ur parents business, third party will never trust. So here you fail in appearance.
21SCO08 mahalakshmi
CA Inter
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