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Scenario B
Financial Reporting
answered on 11-Nov-24 10:33
In scenario B, unrealized of profit of Rs.40,000 (i.e. 400000*10%) pertains to M Ltd (Which is the investor). So, entire 40,000 to be eliminated, and if the unrealized profit lies in Associates books, then in such case we would take the investor's share in that, right? Why are taking 40% of 40,000 in scenario B,sir?
latest answer
For associates, we do not eliminate entire profit. We eliminate only the profit between investor and associate.
Swathi S
CA Final
★ 975
1
168
Capital Gains
Direct Taxation
answered on 10-Nov-24 22:16
is rebate under S.87A available for ---> LTCG under S.112 & STCG under S.111A?
latest answer
No problem. Mark as best answer if it was helpful Good luck for your exams!
Girinath A
CA Inter
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3
448
Illustration 29
Financial Reporting
answered on 11-Nov-24 12:50
Sir, why did we multiplied by 10 cases and 5 cases, as no where it is mentioned that the loss is for one case and hence i assumed it to be for all the 10 and 5 cases respectively.
latest answer
Okk sir !!
Hrishikesh Pradhan
CA Final
★ 18K+
8
478
Ind AS - CA Final Ind AS 102 Share based payments #21. Illustration 12
Financial Reporting
answered on 13-Nov-24 22:44
In the entity P ltd prblm, it is market related performance condition. Here, in scenario 1, when condition met in year 3, we are revising vesting period to 3 years. But while explaining you mention, there is should not be any revision in vesting period and FV in case of market related performance condition.
latest answer
Got it, thankyou sir
Dhanushree Shanmugam
CA Final
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2
563
contents of terms engagement
Auditing
answered on 11-Nov-24 11:57
will you provide one proforma of such letter where in contents of engagement letter will contain regulatory requirement which is governed by the special act. Say bank is governed by RBI, or insurance company governed by irda etc.
latest answer
Yes, in case of companies act, there is reporting requirement under section 143. Like CARO reporting.
LAKSHMI NARAYANA perakam
CA Final
★ 0
1
277
The content of Lecture is not sinking with the material. I am trying to corrilate with material but it is not matching. please help me.
Auditing
answered on 11-Nov-24 11:58
is there any way out to reconsile
latest answer
Which part isn’t matching? Can you give one section for me to relate
LAKSHMI NARAYANA perakam
CA Final
★ 0
1
214
AUDIT ENGAGEMENT LETTER.
Auditing
answered on 09-Nov-24 23:14
POINTNOF TIME OF AUDIT ENGAGEMENT LETTER.
latest answer
After appointment letter is sent by management to proposed auditor. Before beginning the audit, engagement letter is prepared by auditor n agreed by management
LAKSHMI NARAYANA perakam
CA Final
★ 0
1
597
Refusal to appeal
Indirect Taxation
answered on 12-Nov-24 09:30
Sir if the amount does not exceed 50,000 they can refuse the appeal and if the amount does not exceed 5,00,000 it can be heard by a single bench member both the above cases they can refuse the appeal
latest answer
In first case they may refuse the appeal. In second case where it does not exceed 5L the case will be heard by single member bench.
G Ven
CA Foundation
★ 263K+
1
219
SA210
Auditing
answered on 09-Nov-24 23:15
IS IT MANDATORY TO ACCEPT IF THE AUDIT IF IT IS ALLOTED/REQUIRED BY LAW/REGULATORY, UNDER WHAT SECTION OF ICAI MADATES IT.
latest answer
Standard discusses the scenario to continue the engagement even if preconditions not agreed . When appointed under regulatory framework, we can’t withdraw.
LAKSHMI NARAYANA perakam
CA Final
★ 0
1
493
Joint Arrangements
Financial Reporting
answered on 11-Nov-24 13:22
In case of Joint arrangement, who will prepare Consolidated Financial Statment, sir ?
latest answer
Consolidated financial statements are prepared by a parent which has one or more subsidiary. If such a parent is a party to a joint arrangement, they will include Joint arrangement as a part of CFS.
Swathi S
CA Final
★ 975
1
271