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IND AS 23
Financial Reporting
answered on 15-Mar-25 18:56
Borrowing cost capitalised based on expenditure incurred on qualifying asset, Expenditure include only those that have resulted in , 1 Payment of cash 2 transfer of other assets or 3 Assumption of interest bearing liability doubt 1, this conditions is for both specific borrowings and general borrowings doubt 2, Assumption of interest bearing liability means time period beyond the normal credit period, This three conditions are a little tricky part,
latest answer
Yes. Assumption of interest bearing liability basically would mean for example - say issue of debentures.
R Yashwanth Kumar
CA Final
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1
305
IND AS 16 PPE
Financial Reporting
answered on 15-Mar-25 18:26
In this question why they have capitalized the interest, since nothing is given whether it is a qualifying asset or not and even period is less than 12 months? Even if done why done for 9 months, it should be done for 8 months (from 1st may to 31st december) only as land is a not a qualifying asset.
latest answer
They have given different assumptions in the answer by way of note. in the study material question, they have assumed that land is not qualifying asset.
Harsh Mittal
CA Final
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5
302
DOL
Financial Management
answered on 13-Mar-25 16:56
Here,they ask degree of operating leverage Then ,I wrote as follows
latest answer
Ok What’s the issue
anju B
CA Inter
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1
281
Spom classes
Others
asked on 13-Mar-25 16:11
Any one able to login in spom digital learning to watch classes .
latest answer
No answers yet!!
Kiran Vijay
CA Final
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0
346
Conversion
AFM
answered on 13-Mar-25 13:11
When we are adding forward points, for USD INR forward we added 67.8 +0.21 however for USD/EUR we added 1.0775+0.004, which i disagree because they have said cents it means 0.4 na ?
latest answer
understood the answer sir
Hrishikesh Pradhan
Qualified CA
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363
composition scheme
Indirect Taxation
answered on 15-Mar-25 11:35
what will be the answer of this question?
latest answer
He can opt only if turnover from services does not exceed 10% of turnover in state during preceeding FY or 5L whichever is higher.
Sakshi Chauhan
CA Inter
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3
316
ITC availment on revocation of cancellation of registration
Indirect Taxation
answered on 15-Mar-25 11:46
Sir, from the date of cancellation of registration till the date of Revocation of cancellation of registration shall I avail ITC ? If yes, Up to which time limit shall I avail ?
latest answer
Thank you so much sir, the wording in ICAI material is so confusing you cleared me now. Thank you so much : )
Jashvanth.K
CA Inter
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4
326
Schedule III
Indirect Taxation
answered on 15-Mar-25 11:38
What is meaning of "supply of warehoused & consignee goods without clearance for home consumption" under schedule III sir?
latest answer
Welcome.
Viveka R
CA Inter
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3
364
Actionable claims
Indirect Taxation
answered on 15-Mar-25 13:53
Value of exempt supply shall, NOT INCLUDE the value of activities or transactions specified in schedule III, EXCEPT those specified in paragraph 5 of the said schedule and supply of warehoused & consignee goods without clearance for home consumption. In schedule III, actionable claims is included. Where it specifies that other than betting, gambling, lottery, etc.,. According to sec 17(3), ITC is allowed for actionable claims. And ITC is not allowed for betting, gambling, lottery, etc.,. Whether my interpretation is correct sir?
latest answer
Okay sir, thank you!
Viveka R
CA Inter
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4
345
What if there is a retrospective impact of a revision in rights for preference shareholders
Financial Reporting
answered on 13-Mar-25 12:22
Dear sir, Please clarify the impact on EPS if a revision in rights for preference shareholders has a retrospective impact. Example: Initial terms- 10% Cumulative. Pref. Shares of 10 each Revised terms- 15% Cumulative. Pref. Shares of 10 each retrospectively, (OR) The company made a one-time adjustment (like a bonus payment) to compensate for past lower dividends or future loss (due to proposed lower revision), and routed it through reserves. (please consider these are exceptional cases to Section 43 and Section 55 of the Companies Act, 2013 as similar to Irredeemable pref. Shares)
latest answer
If preference shares are liability and if bonus is issued. This implies that the redemption value will be higher. You will need to account for modification as per Ind AS 109 and use EIR to account for interest expenses.
Chaitanya Sai Gupta
CA Final
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3
327