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ILL-11
Financial Reporting
answered on 24-Jul-25 20:13
Hello sir, Why the exchange gain is not recorded in P&L of consolidated FS [Video Time Stamp: 11:26]
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👍
P.udaykumar Pasupulati
CA Final
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ILL-11
Financial Reporting
answered on 28-Jul-25 16:39
Hello sir, Here in the problem inventory is a Non-Monetary item it should be restated either in Historical Cost or NRV. In the problem NRV is not available so we have to restate it Historical cost i.e Transaction date (Rs.83) where you taken 85 Can u clarify this [Video Time Stamp: 07:54]
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For translation of financial statements of subsidiary to holding company, we would consider closing rate
P.udaykumar Pasupulati
CA Final
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250
Assursance engagement
Auditing
answered on 25-Jul-25 07:23
Mam then what is mean by moderate assurance is forecasting prospective financial information is moderate level of assurance?
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Moderate is limited assurance. Here the procedures will be limited and not detailed.
21SCO08 mahalakshmi
CA Inter
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261
Drop lock bond
Financial Management
answered on 24-Jul-25 17:49
Sir , What do you mean by long option structure and short option structure? [Video Time Stamp: 00:02]
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Drop lock
21SCO08 mahalakshmi
CA Inter
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219
Inout Tax Credit
Indirect Taxation
answered on 24-Jul-25 18:36
Product ‘A’ is Taxable ( Turnover for the Month - 10Lakhs) Product ‘B’ is Taxable ( Turnover for the Month - 20Lakhs) Product ‘C’ is Exempted ( Turnvr for the Month - 30Lakhs) Machine A used for B & C alone (ITC on Mac B - 36000) So reversal is, (36000 / 60) x 30/50 =360 ( I did like this) But in ICAI Machine A used for B & C alone (ITC on Mac B - 36000) So reversal is, (36000 / 60) x 30/60 =300 Here also Total Turnover is taken (60 lakhs) Ideally it should be 50 lakhs right ( because Mac B used for B &C only right) Why Answer Computation is based on all units even though asset used for 2 asset only
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Total turnover refers to entire turnover not only the one which is used for. ICAI working is right.
Pradeep Ravikumar
CA Final
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Estimate the Value of the Company
AFM
answered on 24-Jul-25 14:39
Sir in this sum the CEO is satisfied with the CMP of the share therefore he appoints the Consultant to get it valued right. So as we need to compare with CMP we are approaching the sum using FCFE and finding the Value of Equity and Per Share price. Am i right sir? I have attached a image and highlighted the part and my doubt is whether the wordings in the question is wrong Because " Estimate the Value of Company" means Estimate the Value of Firm right? Instead They should have mentioned it as Estimate the value of Equity right? [Video Time Stamp: 04:49]
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Yes you are correct
Mohanbabu N
CA Final
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Extension of course
Others
answered on 24-Jul-25 11:43
Shall I extend the course after sep exam
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Team spoke with you hence closing the ticket
Mugesh Annadurai
CA Inter
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228
Query
AFM
answered on 24-Jul-25 17:41
Sir, As given in the question how did you say that London - Copenhagen is GBP/DKK and Newyork- Copenhagen is USD/DKK. How to find out.?? [video Time Stamp: 03:51]
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Thank you for the clarification sir.
K Vamshi
CA Final
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TYPES OF LEASES: - FINANCE LEASES- Types of Finance Lease
Financial Management
answered on 24-Jul-25 13:15
Sir, one of the type of finance lease is Levaraged Lease, where in there involves a tryparty agreement between LENDER, LESSOR & LESSEE. My query is, If the Lendor has the capability to lend money to Lessor for purchasing the asset. For which he will be receiving lease rentals from the Lessee. Why dont he straight forwardly buy the asset in his own name and then lease it. in tamil there is a saying ( just for fun:- "Idukku bartimuttai pesama godown laye irukalaam la"). Besides, there should be reason for such an arrangement, that Lendor does not buy the asset in his own name, instead he uses benami to buy and lease that asset. [Video Time Stamp: 07:12]
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now specifically mentioning about banks and leasing companies is more helpful to understand the concept better. Thank you sir
Vinod Kumar
CA Inter
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Querry
AFM
answered on 24-Jul-25 09:34
Sir, I am unable to find the additional questions [video Time Stamp: 00:22]
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Addtl questions
Akash Nanda
CA Final
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