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Trade receivable and Trade Payable Adjustments
Financial Reporting
answered on 27-Jan-25 19:37
Sir, In Trade receivables and Trade Payables 1200 to be adjusted or 1000? In solution you have considered 1000. Please clarify the correct treatment.
latest answer
In adjustment 6 - it is given as 1000. means 200 is settled. .
Gunda Sharan
CA Final
★ 150
1
257
Auditor's report
Auditing
answered on 27-Jan-25 17:29
Lets say , reporting year is from Apr - Mar. I understand that if he resigns after 45 days of the quarter he has to issue the report for such quarter as well as next quarter. If report is issues for all 3 quarter, he has to issue for full year And Auditor has resigned on 12th of feb. Does he have to issue report for full year if he has issued previous 3 quarter report even though he is resigning within 45 days of last quarter?
latest answer
Can you tell me where this discussion has been done? I am not able to relate to the question
Jaya
CA Final
★ 3K+
1
276
Present value factor consideration
Financial Reporting
answered on 27-Jan-25 19:38
In Time Stamp 6:54, I am getting frequently confused while considering beginning of year 1 or end of Year 1 and the relevant PVF in calculation. Is there a possibility to differentiate this while reading question sir??
latest answer
the question mentions that payment due on 1/1/x2 - means beginning of year.
Serena Charles
CA Final
★ 18K+
1
320
Cash payment up to rs 10000
Direct Taxation
answered on 14-Feb-25 21:38
Loan given and repaid rs200000 can be cash payment ? Interest paid in a/c payee Cheque
latest answer
Perfect.
Sushmita Chowdhury
CA Inter
★ 2K+
12
575
Illustration 6
Financial Reporting
answered on 27-Jan-25 19:58
Sir in this illustration it was provided goodwill of 65 lacs recognised on its initial acquisition. Now it is not clearly stated whether the goodwill determined using fair value of NCI's share or proportionate share of net asset basis. On this basis, can we presume and include the statement as in considering goodwill calculated using share of net asset basis. NCI has 20% share only on carrrying value of asset excluding goodwill and account for change in proportion sir.
latest answer
Currently 100% of subsidiary is owned by Parent. Now we have trf 20% of this. So out of total net assets of 300 lakhs, we are trf 20%.
kavitha selvam
CA Final
★ 2K+
1
276
SA 299
Auditing
answered on 27-Jan-25 17:33
CAN THE ENGAGEMENT LETTER CAN DEFINE THE SCOPE OF EACH JOINT AUDITO
latest answer
Yes. Engagement letter can define the scope of each joint auditor
LAKSHMI NARAYANA perakam
CA Final
★ 0
1
346
SA 265 JOINTN AUDIT OF FINANCIAL STATEMENTS
Auditing
answered on 27-Jan-25 17:33
WILL THE ENGAGEMENT LETTER CAN DEFINE SCIOE OF EACH AUDITOR?
latest answer
Yes
LAKSHMI NARAYANA perakam
CA Final
★ 0
1
286
More than one customer
Financial Reporting
answered on 29-Jan-25 01:55
Timestamp @ 05:19 Sir, can the end user be considered as a 'customer' since the transaction between the entity and the end user does not involve any consideration?
latest answer
Clear. Thanks, sir.
Denz Philip
CA Final
★ 10K+
2
283
Slide 10 formula derivation
AFM
answered on 07-Feb-25 04:47
Sir since we are determining the sum of infinite terms of a GP, can we use the formula of Sn=a/(1-r), if we r using this the pv of coupon infinite is C/Y, is this boths amounts to different
latest answer
Same logic If there is coupon for a perpetual bond and no growth of coupon Process and formula of arriving at sum of infinite go is same right
Abhinav K A
CA Final
★ 2K+
5
385
Modified duration and convexity
AFM
answered on 26-Jan-25 14:33
Sir, Kindly advise on the following 1. Can we use modified duration % for calculating V+ and V- in the calculation of convexity? 2. Can we add convexity adjustment % to modified duration % to get an accurate price change %?
latest answer
1 Yes 2. Only if they ask you to use convexity or use words like price sensitivity compute convexity. Also consider No. of marks of the question before you compute convexity
Venkatesh S
CA Final
★ 2K+
5
381