Forums
balance sheet Format
Financial Reporting
answered on 12-Mar-25 07:04
Sir in this questionn while preparing the consilidate BS, we considered the given BS format only, as we didnt mentioned the FInancial assets heading for Trade recivables..... in BS , so in exam we can use the given BS format or we should do as per comapnies act Division II format ?
latest answer
Do as per Sch III in exams
Hemachandra D
CA Final
★ 9K+
1
201
Classification of FA in Illustration 9
Financial Reporting
answered on 12-Mar-25 14:11
Why/How is the FA assumed to be measured using FVTOCI since there is no mention of any intention of the entity to sell the FA in the question?
latest answer
Based on info given in question we have considered it as FVTOCI. If it was FVTPL, transaction cost would be expensed.
Ruthvik Reddy Adala
CA Final
★ 5K+
1
204
Seperate Financial Statement of Normal Entities
Financial Reporting
answered on 12-Mar-25 14:12
Sir, for preparation of Seperate FS of Normal eneities who dont have subsidiary/asscoiate/JV, for those no specific IND AS as such right ?, say if its company for whom IND AS applicable then for preparation of FS we have to consider the companies act format, guidance and apply IND AS for the items of the FS am i right ?
latest answer
Companies ACt has a separate format for financial statements for Ind As. That would be followed. Also note that Ind AS 27 provides more of a guidance on specific matters to be dealt in SFS
Hemachandra D
CA Final
★ 9K+
1
223
Goodwill Treatment
Financial Reporting
answered on 11-Mar-25 20:28
Sir goodwill will not be treated seperately right in case of asscoiate for this problem ?, they will be just disclosed
latest answer
Yes
Hemachandra D
CA Final
★ 9K+
1
179
section 10(2a) exempted income
Direct Taxation
answered on 12-Mar-25 16:18
sir, in the 11th part of the question, share of profits from a partnership firm is included in the total income by you. but isnt it an exempted income. please clarify sir.
latest answer
Share of income from Firm in India is exempt.
Ashwin Karthik
CA Inter
★ 170
1
1K+
IND AS 20
Financial Reporting
answered on 12-Mar-25 17:08
Sir in Ind AS 20, Is there any difference between deferred Grant income a/c and deferred grant liability a/c or both are same
latest answer
When recognised in Pl we call it income. When presented in BS its liability
R Yashwanth Kumar
CA Final
★ 87K+
3
176
Second transaction
AFM
answered on 11-Mar-25 16:24
In first we buy$ and sell INR for bank side selling ask rate applicable i e 61 ok And after sell $ and buy HKD in the hands of bank will sell HKD at a high rate that is 7.5920 how it comes 7.588
latest answer
Yes
Ramamoorthy Kaliyaperumal
CA Inter
★ 3K+
2
215
Poll
Corporate & Other Laws
answered on 21-Apr-25 15:39
Wrt point i It said subject to AOA But law said if 1/10 pusc or chairman can demand poll, why it aoa here
latest answer
Yes.
Sushmita Chowdhury
CA Inter
★ 2K+
6
217
FL in case of p.d
Financial Management
answered on 11-Mar-25 22:04
EBIT-I-(P.D/1-TAX) which = to EAESH? Then directly can we write EAESH
latest answer
EBIT - interest - (pref div /(1-t)) Is PBT Where have we considered tax on profits
anju B
CA Inter
★ 21K+
1
190
Chapter 3 - In Illustration 5
AFM
answered on 15-Mar-25 09:43
In Illustration 5, we ignored to multiply the PV factor with (Depreciation*Tax) and multiplied only with (Revenue-Cost) (1-Tax), but we multiplied the PV factor with "Cash flow after tax" in Illustration 2. Can anyone please explain the reason for the difference?
latest answer
Thank u sir
Narmada Chennuru
CA Final
★ 4K+
2
220