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Company accounts
Accountancy
answered on 11-Nov-24 23:30
In company accounts is it neccesary to read theory
latest answer
Thank you
Misba Siddiqua
CA Foundation
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2
605
Others
Direct Taxation
answered on 12-Nov-24 09:35
Sir, will you come live give DT MCQ answers for nov 24 ca final
latest answer
IDT MCQ answers are already posted on Youtube. Will share for DT as well.
Jaswanth Sai
CA Final
★ 0
1
446
Key Audit Matters
Auditing
answered on 09-Nov-24 23:18
I understand that all info which must be part of KOM must be communicated to TCWG first. I feel this doesn't make 100% sense. Here's why. Lets say the company has changed its costing or accounting...which is obviously approved by Mgt and TCWG. I want to bring it in KOM as I have spent much time there etc etc... Why do I have to tell communicate the same to TCWG? is my question making sense?
latest answer
Basically anything brought in audit report is first discussed with mgt and where appropriate with TCWG. Kam is a separate section in audit report, before including any matter here , discussion is a must. N very importantly, out of the matters which are communicated to TCWG n mgt , only those can be included in KAM . This is what standard is more focusing on .
Jaya
CA Final
★ 3K+
1
228
Preparation of fs
Accountancy
answered on 11-Nov-24 08:33
If an asset like furniture is in trail balance and there is an adjustment that particular asset is sold during that year and a new asset is exchanged during the same year... Do we need to deduct +add those assets to determine the balance of furniture
latest answer
It is best to create a ledger account for furniture. If it is sold and there will be a depreciation for that and after reducing the depreciation the furniture will be sold. If the furniture is sold for higher/lower than the carrying value then the profit/loss will be shown in P& L a/c. If the new asset is exchanged we will show the value of the new asset exchanged in the furniture account after reducing the old asset value after depreciation.
vamsi krishna
CA Inter
★ 43K+
1
535
Preparation of fs
Accountancy
answered on 15-Nov-24 17:11
Here the hire purchase price should be taken as base 100 as 25% is calculated on hire purchase price, but the base 100 is taken as hire purchase sales price
latest answer
Yes. Incorrectly done.
vamsi krishna
CA Inter
★ 43K+
1
459
EOQ given by you in your book not matching with your video.
Costing
answered on 11-Nov-24 14:22
Why is there a difference between what you teach and what given in your material.
latest answer
We have updated the PDF notes.
Caintersm2024
CMA Inter
★ 3K+
2
214
IndAS 20 - Govt. grants
Financial Reporting
answered on 03-Dec-24 15:20
In the example, where cash flow statement is presented, the purchase of asset was shown under financing activities, won't that come under investing activities?
latest answer
The error is rectified. Please check it
SANJITHA
CA Final
★ 375
4
244
Silo - Deemed Separate Entity
Financial Reporting
answered on 11-Nov-24 13:29
Whom does the term "Remaining Investee" refers to,sir ?
latest answer
If an investee has 3 branches, branch 1 is a deemed separate entity. Remaining branches are remaining investee.
Swathi S
CA Final
★ 975
1
177
Charge of gst
Indirect Taxation
answered on 10-Nov-24 06:54
Under aggregate turnover What is this Value of inward supplies on which tax is payable under reverse charge
latest answer
It refers to supplies under Reverse Charge Mechanism; Receiver is liable to pay GST, not Supplier
Dharshana Rajkumar
CA Inter
★ 2K+
1
557
Partnership firm
Direct Taxation
answered on 12-Nov-24 09:34
If a partnership firm transfers asset to a partner at free of cost ( there is no reconstitution or dissolution) What will be the tax treatment? Whether it satisfy transfer definition, if so what will be full value of consideration?
latest answer
It will be taxable as per various judgements.
sasidhar cheboyina
CA Final
★ 95
1
458