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SA 560 - Subsequent Events
Auditing
answered on 05-Dec-24 10:52
Can somebody explain this. What does this mean??
latest answer
Oky ma'am.. but in another paragrah its told if mgmt amends then auditor can extend the audit procedures to the date of new audit report unless the circumstances in the above para. Why if law doesn't restrict auditor can restrict the procedure to that amendment.
R M
ACCA Professional
★ 4K+
2
545
IND AS 2 - Technique for measurement of cost
Financial Reporting
answered on 02-Dec-24 15:30
Kindly explain the following two points sir
latest answer
Markdown prices (prices reduced from their original selling price) must be accounted for carefully. We deduct a % profit from the marked down price to value inventory. In such case, we should ensure that inventory is not valued cost or NRV.
RAJKUMAR P S
CA Final
★ 0
1
430
AS 19 - Sales & Leaseback
Accountancy
answered on 03-Dec-24 12:51
Can someone explain solving this sum in simple terms. It's quite difficult while solving
latest answer
Thank you Sir 😊
Soon to be CA
CA Inter
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3
572
How is it SPPI
Financial Reporting
answered on 03-Dec-24 14:09
Here in the last example, the deposit is given and is expected to be refunded after 10 years. But no interest is being received, hence time value of money is ignored. Hence it should not be SPPI. In a previous example, where deferred interest does not earn interest, it was not considered SPPi because time value of money. Please explain.
latest answer
when a deposit is given or interest free loan is given there is another underlying transaction. Thats why the FV of deposit or Loan is considered as Financial Asset which generates interest at EIR and balance is considered as loan given or prepaid rent etc.
Manu Jacob
CA Final
★ 6K+
1
226
Ratio analysis
Financial Management
answered on 02-Dec-24 12:49
Answer presentation For profitability ratio -in percentage What are the presentation for other ratio. Or we generally use decimal for all ratios.
latest answer
No such specifics - use the methodology that is asked in question Eg; If Question says Debt 70% then all answers 70% Q says D:E = 1:2 then related answers in ratio
Elavarasi B
CA Inter
★ 46K+
1
458
AS2
Accountancy
answered on 04-Dec-24 14:31
Please explain Q21 since I am unable to get the question
latest answer
The goods were supplied free of cost by the manufacturer. Therefore, the cost of the goods received free of cost would be nil for valuation purposes.
Sagar Kathuria
CA Final
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1
403
How does an entity receive its own equity shares?
Financial Reporting
answered on 02-Dec-24 08:57
When entity A provides services worth Rs 100,000 to another entity, how does it receive its own equity shares. Can you please explain situations where such situations would arise and why an entity would opt for such an arrangement.
latest answer
Say you have Indigolearn shares. And you took classes from us. In return, you gave Indigolearn Shares as consideration. Indigolearn received its own equity.
Manu Jacob
CA Final
★ 6K+
1
503
Doubt
Auditing
answered on 05-Dec-24 10:03
if the matters in section 143(1) is not adverse then no report is required Right? What is adverse meaning... Like doubtful or material and pervasive
latest answer
Adverse as in you get opposite answer to the inquiry that u do. Only if u get negative response , report . Otherwise need not be reported .
07- Issac Jolly-XII C
CA Inter
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4
451
Why GST Is not levied on alcohol for human consumption?
Indirect Taxation
answered on 09-Dec-24 11:40
Logic behind why government not introduce GST
latest answer
Since state Government makes huge revenue from alcohol.
MACHAVARAM KRISHNA VAMSI
CA Inter
★ 540
3
590
Rajesh surana case
Indirect Taxation
answered on 09-Dec-24 11:44
So will it this be charged under section 7(1)(b)
latest answer
Section 7(1)(b) will not apply since it is not import of service. Instead it is export of service.
Prachi Mane
CA Inter
★ 240
1
504