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IND AS 41
Financial Reporting
answered on 25-Feb-25 15:06
Sir In IND AS 41 , if govt grant condition is for 4 years and 1 year is completed cant we recognise on prorata basis, As IND AS 41 only says recognise when conditions are met
latest answer
Condition is 4 years.
R Yashwanth Kumar
CA Final
★ 87K+
1
288
EAIR
Financial Management
answered on 25-Feb-25 12:24
EAIR itself only for annual Why for half yearly, quarterly in example
latest answer
We are trying to elminate the effect of interest rests / compounding If interest is compounded twice (half yearly) then you arrive at annualized rate (not half yearly / quarterly compounding) to make it comparable
anju B
CA Inter
★ 21K+
1
324
MAINTANANCE OF BOOKS BY INDIVIDUAL ASSESSEE
Direct Taxation
answered on 25-Feb-25 12:23
SIR, in case of individuals they wont usually maintain books of account so how is the distinction made between mercantile and cash basis
latest answer
They have to maintain books if turnover exceeds 25L or total income exceeds 2.5 lakhs. If they opt for 44AD/ ADA then it is not required.
Sandeep
CA Inter
★ 50
1
268
Debit Note & Credit Note
Indirect Taxation
answered on 25-Feb-25 12:17
Can a credit note be issued in FY 2024-25 for sales return which had taken place on FY 2024-25 with respect of the sales made in FY 2022-23.
latest answer
Yes. We can. Maximum time is till 30th Nov of 2024.
Megha Nagaraj
CA Final
★ 160
2
284
PURCHASING PRICE PARITY THEORY (PPPT)
Financial Management
answered on 25-Feb-25 04:30
"PPP predicts that high inflation leads to a weaker currency. While this relationship often holds true in the long run, PPP has limitations as a short-term predictor because it ignores factors like capital flows, non-traded goods, and government intervention." This basically means that, PPP fails to determine the short term factors responsible for inflation relative to the long term? If so, shouldn't it ignore the long term factors as well? It is only considering the long term only because of one factor (maybe longevity?) Thank you!
latest answer
First para right second para wrong Things always don’t happen instantaneously in short term they take time to play out - this idd acc true across financial markets In short term demand supply determine but these things change in response to inflation slowly Hence ppp plays out in long term
Nabeela Faisal
ACCA Skill
★ 0
1
310
how to find nth term
Maths & Stats
answered on 25-Feb-25 10:55
from where did that formula came 2n-1
latest answer
If you are referring to time stamp 8.35 tn = a + (n-1)d a = 1 and d = 2 then tn = 1 + (n-1) x 2 tn = 1 + 2n-2 tn = 2n-1
Rudransh Aheer
CA Foundation
★ 3K+
1
295
Compatation of WANES
Financial Reporting
answered on 25-Feb-25 10:56
Here, Whether WANES = 15,76,388.89 will be applied in calculation of Current year and Previous year - in the Financial Statement of Current year , sir?
latest answer
Current year. Previous year calculation will be done separately. Even for previous year, we would give Bonus issue impact.
Swathi S
CA Final
★ 975
1
260
Relevant Date for WANES
Financial Reporting
answered on 25-Feb-25 10:58
Shares that are issued after fixed period of time - Why don't treat it as Mandatory conversion, sir?
latest answer
Conversion from?
Swathi S
CA Final
★ 975
1
201
TRADING IN CURRENCIES
Financial Management
answered on 24-Feb-25 21:04
I did get what was explained but want to confirm if i can remember it like this : Bank will BUY @ LOW ; when you want to SELL. Bank will SELL @ HIGH ; when you want o BUY. This is also correct right? Thank you!
latest answer
Absolutely right
Nabeela Faisal
ACCA Skill
★ 0
1
269
Allocation of Goodwill and corporate assets to CGU @02.05[ Time]
Financial Reporting
answered on 25-Feb-25 11:58
Sir, As you mentioned, allocating corporate assets to CGU on a reasonable basis. Can you say what are the reasonable basis in a practical way. And also the same with allocation Goodwill to CGU..!
latest answer
Okay sir. Thank you
K Vamshi
CA Final
★ 14K+
2
273