Forums
Depreciation
Direct Taxation
answered on 21-Mar-25 12:13
Convertible car Date of purchase 23.8.21 Date of put to use 25.8.21 Amount 9480000 Car is also used for personal purpose Disallowance for personal purpose may be taken at 20 percent What would be the Amount of dep for 23-24
latest answer
Keep computing depreciation and reduce the same from WDV.
Deeksha Ananda
CA Inter
★ 6K+
1
206
Computation of Ideal Spot Rate
AFM
answered on 18-Mar-25 20:29
While computing Ideal spot rate why 6% & 2% are divided 2 beacuse 2% and 6% are for 6 months know?
latest answer
6m libor is rate for a 6 month loan Secondly the rate is pa rate and not a six month rate
Bhoomesh Velan
CA Final
★ 3K+
1
225
Illustration 17
Financial Reporting
answered on 19-Mar-25 10:32
Why is the Derivative Asset balance of 50,00,000 added to Trade receivables assuming no payment is received on June 30th?
latest answer
Because on that date the trade receivable balance would be @60 if we do not receive the money. The principles of Ind AS 21.
Ruthvik Reddy Adala
CA Final
★ 5K+
1
172
Arbitrage AV - EV
AFM
answered on 18-Mar-25 18:26
In the ICAI new material still the arbitrage formula is EV - AV, I have understood its AV - EV, just I mentioned like if there is any special reason still ICAI considers it has EV - AV
latest answer
ICAI did not correct its mistake It is AV - EV which is surprise element You can check one of the suggested answers probably Nov 23 where there is a Q abt it - have solved in class too
Hemachandra D
CA Final
★ 9K+
1
184
Buy back
Accountancy
answered on 18-Mar-25 16:41
Is it compulsary to follow simultaneous method for debt equity ratio test in exam to gain full marks or can we follow any method to caluclate ?
latest answer
Any method
Sri ram Pothineni
CA Inter
★ 11K+
1
234
Question
Corporate & Other Laws
answered on 21-Mar-25 18:01
Can we call it unenforceable contact
latest answer
Thank you 👍 mam
Mohnish U
CA Foundation
★ 2K+
2
195
Exam me about the way of representation of answer
Corporate & Other Laws
answered on 19-Mar-25 09:00
If a question is asked about a particular section can I write the key points relevant to the section or it must be the same as the book
latest answer
You can write the key points but make sure to cover all the points.
Mohnish U
CA Foundation
★ 2K+
2
188
SA 505
Auditing
answered on 18-Mar-25 22:52
Hi Madam, please tell the meaning of assertion
latest answer
In simple words, management claims is considered as assertion. For example, in balance sheet , they show Building at Rs. 10 cr. Meaning , here management is claiming , there is a Building, they own the building, valuation is 10cr etc. some are expressly told and others are presumed by auditor considered as implied. So basically, these we validate by performing audit procedure . So audit is to validate assertions made by management.
Venkat L
CA Inter
★ 2K+
2
268
Ind AS 105
Financial Reporting
answered on 19-Mar-25 10:34
Sir the ans shd have been Fair value less cost of sell right
latest answer
Lower of carrying amount and FV less cost to sell.
R Yashwanth Kumar
CA Final
★ 87K+
1
166
Illustration 19 - Recognition
Financial Reporting
answered on 19-Mar-25 10:46
[03:26] Sir, what will be debited in the parent P's standalone FS? (Can that be equity since it is not own equity instrument?)
latest answer
Okay, sir. Thank you.
Denz Philip
CA Final
★ 10K+
2
198