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Financial Reporting
answered on 07-Mar-25 14:11
Hi Sir, I have a doubt. For example an entity whose functional currency is USD and presentation currency is INR. An asset was purchased for 100 USD and exchange rate on this date is 80. The amount should be recorded at historical price since it is non monetary asset so Rs. 8000. However while presenting financials non monetary asset is recorded at rate on 31 March eg 85. So asset should be recorded at Rs. 8500. I am getting confused. Can you please explain at what rate do we finally record it.
latest answer
If functional currency is USD all transaction would be recorded in USD only. You will not record at 800. Then for reporting purpose, you will convert the USD balance sheet using applicable exchange rates.
Manu Jacob
CA Final
★ 6K+
1
191
CAPITAL STRUCTURE - MM Approach with Tax
Financial Management
answered on 07-Mar-25 16:06
is the formula correct in MM Approach with tax
latest answer
thanks sir
Muhammed Salih
CA Inter
★ 18K+
4
235
When impact is asked, is it okay if we write journal entries or do we have to compulsorily write it statement format?
Financial Reporting
answered on 07-Mar-25 14:09
When impact is asked, is it okay if we write journal entries or do we have to compulsorily write it statement format?
latest answer
If impact is asked, we need to explain. JOurnal entries may be given as additional content.
Manu Jacob
CA Final
★ 6K+
1
174
NPV
Financial Management
answered on 07-Mar-25 10:11
can you please explain when we have to consider the initial c/f or yearly c/f in T0 and when from T1 or T2 onwards?? Thank you!
latest answer
It is an hour long video. You have to share a time stamp of the specific issue at hand for us to revert
Nabeela Faisal
ACCA Skill
★ 0
1
217
Business Valuation - Illustration 24
AFM
answered on 08-Mar-25 05:39
In sub question (ii), why hasn't the PV of the explicit period been added sir in PE based valuation sir?
latest answer
Ok sir
Vigneshwar M
CA Final
★ 2K+
4
171
Query on Non-cash consideration transactions
Financial Reporting
answered on 07-Mar-25 14:15
Dear Sir, In the given scenario, the value of goods/ services received and provided is the same, i.e., 50,000/-. What if there is some gap between the value of goods/ services provided/ delivered and the value of goods/ services received as a part of non-cash consideration transaction under IND AS 115.
latest answer
For revenue recognition we will measure the value of non-cash consideration received and recognise revenue at that amount. If I receive non-cas consideration worth 10,000 and I have transferred goods worth 11,000. Transaction price is 10,000. If the value of non-cash consideration cannot be determined, then we will use standalone selling price of the goods or services.
Chaitanya Sai Gupta
CA Final
★ 4K+
2
198
Section 54 F
Direct Taxation
answered on 12-Mar-25 16:19
Assessed have no residential house Purchased and claimed 54F Can assesse purchase 2nd house in 2years ?
latest answer
Yes it is.
Sushmita Chowdhury
CA Inter
★ 2K+
4
234
ITC
Indirect Taxation
answered on 07-Mar-25 08:37
Page 8.97 of ICAI SM, For 2(b), why section 18(1)(a) is applied and not 18(1)(d). Should ITC be allowed on capital goods, as this is a case of exempt to non exempt
latest answer
Okay sir, thank you
Raviteja Kusumanchi
Qualified CA
★ 42K+
2
213
Self declaration for SPOM in exam form
Exams
answered on 10-Mar-25 12:11
Hi sir, As I have decided to give my spom after final exam, while filling exam application I'm asked to self declare that I have or will be completing spom before April 10th..Can I skip that particular self declaration...
latest answer
Then you can skip
Madhulika SN
CA Final
★ 170
3
285
While considering potential share for Diluted EPS we have considered 25000 shares for 9m... Then for interest portion why are we not considering interest on 25000 for 3m?
Financial Reporting
answered on 07-Mar-25 14:38
While considering potential share for Diluted EPS we have considered 25000 shares for 9m... Then for interest portion why are we not considering interest on 25000 for 3m?
latest answer
After conversion of 25,000 convertible bonds, we would consider them as a part of normal equity for computation of Basic EPS. Till the date of conversion i.e for first three months, we consider them as dilutive. We have added back interest on these bonds for 3 months.
Manu Jacob
CA Final
★ 6K+
1
180