Forums
Amalgamation - Realisation Ac
Accountancy
answered on 24-Jun-20 19:17
In all the illustrations we have transferred liabilities to Realisation ac and reserves to equity shareholders ac. But incase of mergers even the reserves are taken over by purchasing company! So can we take the reserves to Realisation A/c itself? And by that approach I guess we can arrive at how much profits had equity shareholders made actually! Is this approach right?
latest answer
Reserves can never be taken into realisation account, be it in the nature of merger or purchase
Saran Vadivel
CA Inter
★ 2K+
3
1K+
IRR
Financial Management
answered on 24-Jun-20 15:58
When I calculate IRR by interpolation , the answer which I get and in the book is quite different. For example if I get the answer as 12.86% book shows the answer ad 12.42%. I have taken present value factor for any discounting factor up to 3 decimal places. Is this difference due to approximation of PVF? And Upto what difference In IRR rate considered permissible from exam point of view.
latest answer
Thank you Sir
MAHITHA SENTHIL KUMAR
CA Final
★ 800
5
838
Leap year
Accountancy
answered on 24-Jun-20 09:16
If the examination question is silent about the assumption of leap year and if years like 2016,2020(leap years) appears in the question should we calculate average due date considering leap day or not . Please clarify.
latest answer
If specific year is given like 2016 then consider it as leap year. But if it is not specifically mention as to which year, assume its not leap year. If any assumption is made, please specify the assumption clearly
lithish kumar
CA Final
★ 3K+
1
663
icash
Others
answered on 26-Jun-20 22:03
I have 22000 icash.If I burn it to cash how long could it be valid??? Also shall I be able to burn icash in parts???
latest answer
Ohh kk that's nice
Gowshika LT
CA Final
★ 40K+
5
991
Retirement of a parter
Accountancy
answered on 29-Jun-20 19:02
How capital ratio(after all adjustment) 5:3:4??how come they calculated m capital?
latest answer
Thank you...
Aravindh Kumar
CA Inter
★ 4K+
4
702
GST faculty
Others
answered on 23-Jun-20 21:02
I would like to know about the faculty who had taken GST classes when the online classes commenced (before Fin1app). His classes were pretty interesting and good.
latest answer
Okay ....... I liked his class very much..that's why I asked. Thank you sir
Ann Maria Joseph
CA Final
★ 37K+
3
827
Maths
Others
answered on 23-Jun-20 20:57
Pls upload mcq on paper 3.of ca foundation
latest answer
We are working in it. Please bear for a couple of more days.
Prasanth Kumar
CA Inter
★ 13K+
1
742
AS 11 MCA
Accountancy
answered on 24-Jun-20 15:54
For liability designated as long term foreign currency monetary item can we have to transfer the exchange difference to FCMIT ?
latest answer
If it relates to the acquisition of a depreciable capital asset,then the exchange difference can be added to or deducted from the cost of the asset and shall be depreciated over the balance life of the asset, and in all other cases, it can be accumulated in a â??Foreign Currency Monetary Item Translation Difference Accountâ??
Alan Geevarghese
CA Inter
★ 0
1
769
Prospectus
Corporate & Other Laws
answered on 24-Jun-20 14:37
Explain 3rd point.. In detail.
latest answer
Untill, any information to be provided in prospectus specified by SEBI as per point 2, the regulations under SEBI Act, 1992 shall be applicable on such information of financial statements or reports.
Suryaa Ss
CA Inter
★ 0
2
746
Sec 40(a)(ii)
Direct Taxation
answered on 23-Jun-20 18:35
I understand Income tax paid is not deductible. But is it not deductible even though it is paid during the p.y or before due date 139(1)? In case of indirect tax can i take as deduction when i paid during the p.y or before 139(1)
latest answer
Yes, indirect tax paid will be allowed.
AKHIL KOSHY
CA Final
★ 7K+
1
714