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In year 2 can you please explain why we cannot have a -50,000. Why did we add 50,000 and make it 0. Please explain
Financial Reporting
answered on 17-Mar-25 10:09
In year 2 can you please explain why we cannot have a -50,000. Why did we add 50,000 and make it 0. Please explain
latest answer
The investment value cannot be negative since its an asset. We had to account for impairment on preference shares which made the value negative. So we reversed the other losses recognised earlier to bring back the value to Nil.
Manu Jacob
CA Final
★ 6K+
1
179
Document in electronic form
Corporate & Other Laws
answered on 05-Mar-25 09:09
Not all company allowed to maintain documents in electronic form as per section 120 ?
latest answer
Every listed company or a company having not less than one thousand shareholders, debenture holders and other security holders required to maintain documents in electronic form
Sushmita Chowdhury
CA Inter
★ 2K+
1
202
ADDITIONAL DEPRECIATION
Direct Taxation
answered on 05-Mar-25 18:08
SIR, why have you computed additional depreciation for next year in illustration as additional depreciation is only allowed in the year of purchase.
latest answer
If asset is put to use for less than 180 days then only 10% is allowed and balance 10% is allowed in next year.
Sandeep
CA Inter
★ 50
1
231
Fixed Rate of Interest 7%
AFM
answered on 04-Mar-25 17:04
Sir in the question its mentioned fixed rate of interest 7%, whats this, whats use of this ?
latest answer
sorry sir, Got it, 7%/2 = 3.5% used for discounting premia
Hemachandra D
CA Final
★ 9K+
1
218
Income From gifted property
Direct Taxation
answered on 05-Mar-25 19:08
Sir does income from gifted property generally computated under it's specific head (for example income from hp / capital gains ) or under IFOS ?
latest answer
Welcome.
Nagachaitanya Nomula
CA Final
★ 8K+
5
259
Exemption rules ca inter
Exams
answered on 04-Mar-25 19:40
In this Jan 25 attempt, I have scored 62 in costing and got exemption but because of low aggregate I failed. My doubt is how many marks do I need to get in audit and fmsm to pass? Do I need to get 100 more marks or just 88 or 50 each in both subjects? Pls clarify sir
latest answer
Ok thank u sir
Vibraja Janardhanan
CA Inter
★ 80
6
707
Top Down Test Example
Accountancy
answered on 11-Mar-25 10:35
What is the difference between the Carrying amount of the smaller CGU and of the larger CGU? Is there a reason why the CA of the smaller CGU is given in the problem?
latest answer
First we check if can allocate goodwill to lowest, if yes then we allocate to smallest CGU and check for impairment This can be a trick to confuse you in the exams.
V V
CA Inter
★ 3K+
1
239
Costing
Exams
answered on 04-Mar-25 13:27
Sir I cleared group 1 under the old syllabus..so got exemption in costing..but I failed group 2 , 3 times...In may attempt should I need to write costing??
latest answer
Thank you so much sir
Priyanka R
CA Final
★ 20K+
5
236
Exams
Exams
answered on 04-Mar-25 12:58
Sir I cleared my group 1 under the old syllabus i.e, november 2023... Now I'm writing 2nd group in May 2025..can I join articles before clearing second group sir?? Because I cleared group 1 under the old syllabus right!
latest answer
Ok sir thank you
Priyanka R
CA Final
★ 20K+
2
244
Engagement Letter
Auditing
answered on 04-Mar-25 14:24
In illustration, it is mentioned that Company has issued the Engagement letter to all 3 Auditors. Whereas SA210 says it is the responsibility of auditor to draft and issue EL to client. Whether the EL issued by client to auditor is a valid document?
latest answer
Company issues appointment letter. Engagement letter is always from the auditor
Seema Jain
CA Final
★ 3K+
1
271