Forums
Past service Cost
Financial Reporting
answered on 10-Feb-25 20:12
Sir whether the significant decrease in number of employees(they resigned voluntaritly), is also considered as curtailment(plan amedment) or change in acturail assumptions is it anything like only in cases if company layoffs the employees is called Curtailement ?
latest answer
If employees voluntarily resign, it is considered a change in actuarial assumptions. If the company actively reduces its workforce (e.g., layoffs, VRS), it qualifies as a curtailment. So it has to be company initiated. Curtailment generally means reduction of benefits and employees on their own would not want reduction
Hemachandra D
CA Final
★ 9K+
1
261
Illustration 11
Financial Reporting
answered on 10-Feb-25 20:19
Sir in illutration 11, as on 31st march ideally entry needed only for 3.2 crores right as 2.8 crores already paid for which it will be accounted in Nov itself,
latest answer
In november they would make a contribution entry not expense entry In some cases company may accrue monthly expenses.
Hemachandra D
CA Final
★ 9K+
1
278
Writing section numbers in law answers
Corporate & Other Laws
answered on 13-Mar-25 18:22
Will writing section numbers in my answer for law questions give me more or higher marks? Will I still score full marks for a question if I do not write section numbers but provide correct explanation?
latest answer
thanks
Asmita Kar
CA Final
★ 7K+
4
335
Treatment of interim divident
Accountancy
answered on 10-Feb-25 09:05
Is interim dividend an adjusting or non adjusting event?
latest answer
The dividend was declared after the reporting period, it is a non-adjusting event.
Labdhi Jain
CA Inter
★ 180
1
275
Difference between Illustration 4 and 8
Financial Reporting
answered on 12-Feb-25 12:10
Sir illustration 4, at end of second year also no provision is recognised for filters, and for illustratoin 8 provision is recognised In both cases it has a legal requirement But in illustration 8 - since enitity have contnaminated the land(present obligation as a result of past event) which will require to restore, so provision required but in illustration 4 - even though contamination of air happens, due to smoke, but it will not require anything as such to clean up, it will require to pay penalty only, so provision for penalty is this the case, why the treatement is different ?
latest answer
Contanimated land can be identified and govt can force to clean up. For air pollution thing, the device is not yet fitted. So only penalty. The case should have been better framed by ICAI. It like you need to carry a PUC for your vehicle. If you do not carry, you pay penalty. Now if you do not get your vehicle tested for PUC, there is no outflow for PUC testing. Only penalty is required to be provided.
Hemachandra D
CA Final
★ 9K+
1
292
Ca direct entry
Others
answered on 10-Feb-25 09:03
So i have completed graduation in life sciences stream so i want to go for ca direct entry
latest answer
Yes you can.
Aleti Vamshi krishna
CA Foundation
★ 0
1
265
Nov-2024 Provision question
Financial Reporting
answered on 10-Feb-25 21:29
Sir I have attached the Nov-2024 MCQ case study and question, in this case the answer is Provsion for 100 crores is it becasuse amount of 60L not reimbursed within 3 months, so it creates a doubtful about whether will receive or not say if the penalty was leveid on feb month, so as on year end march, only 2 months completed, as per agreement 3 months time to get reimbursement so in this case provision is 40L and contigent liability 60L as Reimbursement will be virtually certain considering as per terms of business/contract is this right ?
latest answer
In real life that is how it works. The other party would refund the amount. ICAI has drafted the question pretty vague. There is a statement which says it is unfavourable to the arrangement. Also in case of joint operations, the other party is bound to reimburse.
Hemachandra D
CA Final
★ 9K+
1
266
Cash sale
Accountancy
answered on 10-Feb-25 09:07
What is the cash sale? detailed explanation
latest answer
The buyer pays immediately after receiving goods or services.
Rishana Ramees
CMA Inter
★ 0
1
257
Introduction to gst
Indirect Taxation
answered on 10-Feb-25 12:34
Sir how does input tax credit apply to IGST in gst law
latest answer
IGST credit can be utilized for payment of output IGST, then CGST or SGST in any order or any manner.
Prajwal H M
CA Inter
★ 260
1
289
security valuation - illustration 5
AFM
answered on 07-Mar-25 15:15
why haven't we considered EPS(1-b) in the numerator of earnings growth model, instead of EPS?
latest answer
This is one method Instead of using dps We are using eps as all eps pertains to shareholders
Ali S
CA Final
★ 8K+
3
254