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IND AS 28
Financial Reporting
answered on 23-Jun-25 13:18
Sir in year 2 we made reversal of share of profit to make pref share to zero, this can you explain Because year 2 closing balance net interest is 1 lakhs and year 3 share of loss is 2 lakh and closing unallocated loss is 1.5L, This 50K reversal of loss in pref , indirectly adjusted to Loan in year 2, is this correct
latest answer
End of year 1 balance is 1,00,000 (Total) - This is the maximum loss we can take a hit in Year 2. In Year 2, Preference shares have a loss of 50,000. Since we do not have any balance in pref share at end of year 1, we notionally reverse previous losses to extent of 50,000. We further book a loss of 1,00,000 to other investments (50,000 of loss coming from pref shares, and 50,000 share of loss) We are left with unabsorbed losses of 1,50,000
R Yashwanth Kumar
CA Final
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1
233
Coefficient of Variation/Variance
AFM
answered on 20-Jun-25 10:18
Sir, what is the appropriate formula for calculating the Coefficient of Variation (CV) in this context? Should it be: Standard Deviation / NPV, or Standard Deviation / Expected Cash Flows (Mean Cash Flows)? If both formulas are technically possible, will they give the same outcome in decision making, or can the project rankings change depending on which base is used? Also, when both NPV and mean cash flows are available, which one is more appropriate or preferable to use in evaluating and comparing projects? [Video Time Stamp: 03:39]
latest answer
It is expected CF or NPV as applicable is that case for projects NPV as denominator is preferred. They will not ask a question where both are provided - if such a situation arises compute using both
Murali Thripuraboina
CA Final
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1
300
RTP
Maths & Stats
answered on 20-Jun-25 10:24
How to solve the question 6 and 7
latest answer
Q 6 (1+6%/12)^12 - 1 = 6.16% Q 7 Back work based on answers Since both numbers are round numbers without decimals investment amount is also a non decimal X + X*3*8% = 2688 solve for x like this try for 5%, 4% & 1 % you will get initial investment / principal as 5% at which both P + I for 3 year and 4 year both will match
Gurukanta Singh
CA Inter
★ 20K+
1
219
SA 299
Auditing
answered on 25-Jun-25 17:23
As per the explanation given in the video for Question 3, only CA Z who brought up the matter and did not issue a separate audit report, will be responsible for the fraud detected in the branch. However, as per the answer key given, it is mentioned that all 3 joint auditors will be responsible. Kindly clarify.
latest answer
Yes. When all the partners jointly take a Decision , they will all be responsible, when matter is brought to notice by one partner, they resolve it together
Irfanah Ilias
CA Final
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1
213
Doubt
Maths & Stats
answered on 20-Jun-25 10:29
For ladies first case it is 7c2 or 7c3
latest answer
7c2.
Gurukanta Singh
CA Inter
★ 20K+
1
264
Bank Reconciliation Statement
Accountancy
answered on 19-Jun-25 20:21
While preparing a brs if both balance as per cash book and balance as per pass book are given if I take balance as per pass book as base If in answer key the base has been taken as balance as per cash book Is it fine if base are different If same situation happens in exam the icai will deduct marks or not And it has not been stated that base should be cash book or pass book
latest answer
Thanks sir
Gurukanta Singh
CA Inter
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2
270
IND AS 28
Financial Reporting
answered on 23-Jun-25 13:18
Sir as mentioned additional depreciation entirely can be charged and then also we can compute share of profit right
latest answer
Associate does not charge additional depreciation.
R Yashwanth Kumar
CA Final
★ 87K+
1
215
TDS
Indirect Taxation
answered on 20-Jun-25 14:15
In this eg. Central govt paying tax to govt as input tax, then Central govt only need to enjoy ITC, why the amt credited to Ramesh account and he utilising it ????
latest answer
TDS is being done by Central government on base value excluding TDS. So such TDS is allowed as credit to Ramesh. Similar to Income Tax TDS
Mugesh Annadurai
CA Inter
★ 0
1
319
Eps
Financial Reporting
answered on 19-Jun-25 09:59
In case of compulsorily convertible preference shares, should eps be computed under basic or diluted. I believe that since it is compulsory convertible, it can be treated as ordinary share and included under Basic. Also please explain date of contract in para 23 of Ind AS 33.
latest answer
It is included in basic from the date of contract. Date of contract is the date on which the investor and company have entered into a contract which is basically the issue date. If CCPS are issued on 1st April 20X1 and are compulsorily convertible into equity shares on 1st April 20X4, then: Those shares are included in Basic EPS from 1st April 20X1 (date of contract). They are not separately adjusted in diluted EPS, as the impact is already reflected in basic EPS. If it is optionally converted, then it will be considered in dilutive.
Azmi RZmi
CA Final
★ 10K+
1
302
Mistake of Indian Law
Corporate & Other Laws
answered on 19-Jun-25 10:02
Contract is not void in Indian Law If mistake is caused through inducement of another, contract may be avoided Here another represents what a person, contract or anything else
latest answer
It means person.
Gurukanta Singh
CA Inter
★ 20K+
1
238