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Decrease in Liability > Carrying of decommssion cost part in PPE
Financial Reporting
answered on 09-Jan-25 10:00
As end of 10 Years, the carrying amount of decommission liability which intial Recognised as Rs 10000 will be 7500 (10000-2500) (Rs 2500 being the depreciation for 10 years for Rs 10000, so the carrying amount of the decommissioning liability cost in PPE is Rs 7500 and now we are reduced Rs 8000 from the PPE, which means no Decommissing cost included in PPE also we have reduced the carrying amount of PPE by Rs 500 (8000-7500), but it is inclued in Provision for decommissionig liability a/c But the words "if Decrease in Liability > Carrying Amount, excess is recognised as Income" is to be checked for the total Carrying Amount and not the just the decommission cost part present in PPE, Right ?
latest answer
We check for total cost of PPE and not only the decommissioning portion.
Hemachandra D
CA Final
★ 9K+
3
257
Appendix A Events
Financial Reporting
answered on 09-Jan-25 10:00
Sir what it means, c) An increase that reflects the passae of time (Unwinding of the discount)
latest answer
Increase that has happened due to adding interest (time value of money)
Hemachandra D
CA Final
★ 9K+
1
371
Excel sheet in Chapter -2 - Risk Management
AFM
answered on 09-Jan-25 09:35
The excel sheet provided in second chapter (Risk management) is protected. Kindly provide the password for the same.
latest answer
All our spreadsheets are password protected as these are our IP Regret cannot share passwords
Priyanka K
CA Final
★ 36K+
1
227
Intangible assets
Accountancy
answered on 09-Jan-25 08:49
Ans is b ...how ? Method? As - 26
latest answer
It should be amortised using a systematic basis reflecting pattern of consumption of economic benefits. So 35% * 5,00,000 = 1,75,000
Lucky Ten
CA Inter
★ 0
2
273
Repayment of government grants
Financial Reporting
answered on 07-Mar-25 14:59
In the first illustration, the grant is related to income. But in the slide you mention it as the grant related to assets and their respective treatment.
latest answer
The video is updated.Please check it.
Pavithra S J
CA Final
★ 9K+
2
245
Tax rates
Direct Taxation
answered on 09-Jan-25 10:38
sir in the example you said tax rates for default tax regime upto 3L -nil 3L-7L -5% 7L-10L@10% but in the ICAI study material the tax rate is upto 3L - nil 3L to 6L- 5% is given ?? 6L to 9L@10% which tax tax should taken and applied sir??
latest answer
Thank you sir.
bharathipriya
CA Inter
★ 3K+
5
375
Option - American & European
AFM
answered on 08-Jan-25 17:48
If not mentioned in 2 period binomial questions, should we assume it to be European?
latest answer
Yes
Durai Murugan
CA Final
★ 470
1
236
Option -Risk neutral probabilities
AFM
answered on 08-Jan-25 16:17
How many decimal points are advisable when using P = (e^rt-d)/u-d ? If no need to present u and d separately, can we solve directly by Su(P)+So(1-P)=Current spot*e^rt?
latest answer
Decimal points - pls consider 4 Yes you can solve using formula you mentioned
Durai Murugan
CA Final
★ 470
1
267
Question 12
Financial Reporting
answered on 08-Jan-25 17:38
Sir, Why transactions on Acquistion date to be recorded in foreign currency? as Global Ltd functional currency is Rupees only.
latest answer
We converted to INR Calculation is basis Euro.
Gunda Sharan
CA Final
★ 150
1
278
Do we have to compulsorily use continuous compounding method or can we use simple interest method as well?
AFM
answered on 08-Jan-25 13:28
Do we have to compulsorily use continuous compounding method or can we use simple interest method as well?
latest answer
If value of e is provided u have to use continuous compounding In real life that is what is used
Manu Jacob
CA Final
★ 6K+
1
299