Forums
Doubt regarding payments of cash forcast
Financial Management
answered on 03-Jan-25 11:16
for payment of cash for A ltd, shouldn't the amount be 55000 since the credit terms is 1 month calender month. Aren't we supposed to take purchase of Dec rather than for Nov as answer shown is the amount corresponding to Nov
latest answer
But question clearly says payment is scheduled on 7th Jan. Question also says amount is not for any specific month, but a standing amount and differences are reconciled and adjusted periodically.
Parvathy P
CA Final
★ 6K+
1
219
Minerals and Minerals Product
Financial Reporting
answered on 03-Jan-25 10:09
Sir Mineral and Mineral Products are excluded from this Ind As for Measurement purpose, does Cement is a Mineral product ?
latest answer
Inventories of minerals and mineral products (e.g., coal, crude oil) are excluded only if they are measured at net realizable value (NRV) under well-established industry practices. This exclusion is for the mining company and not for cement company.
Hemachandra D
CA Final
★ 9K+
5
1K+
Foreign Exchange Exposure - TYK 5
AFM
answered on 03-Jan-25 05:54
Sir, in Q 5(iii) why we are not taking the average of Bid and Ask Rates of Spot and Forward Rates and Finding the premium or discount of USD on INR? Also what is meant by premium/ discouny of USD on INR. Should we find Premium on USD(Base Currency) or Discount on INR( Non Base Currency) Basically I'm not clear in this question!
latest answer
Premium / dsicount is always computed for bid and ask separately unless they specify compute for average Explained in class and revision video also what we mean by premium / discount - - basically int rate differential - We compute it for a specific quote- here they gave 2 months and 3 months both quotes and hence finding for average of both Premium of USD on INR with USDINR direct quote means USD Premium Pls watch our free class for next 3 days and doubt should be cleared
R M
ACCA Professional
★ 4K+
1
869
Ind as 38
Financial Reporting
answered on 03-Jan-25 10:15
Is coustomer list intangible asset or it can be recognised if cost is measurable
latest answer
If the separability criteria is met then, Acquired Customer Lists: If acquired separately (e.g., purchase of a database), it is recognized at cost. If acquired in a business combination, it is recognized at its fair value as part of the purchase price allocation. Internally Generated Customer Lists: A customer list developed internally cannot be recognized as an intangible asset. Costs of developing or maintaining customer relationships are typically expensed as incurred because it is challenging to reliably measure the cost or demonstrate control over the asset.
Krishna Krishna
CA Final
★ 780
1
544
What to do if result was successful and no need to pay the outstanding liabilities?
Auditing
answered on 05-Jan-25 23:10
What to do if result was successful and no need to pay the outstanding liabilities? Do we reverse the OS balance again?
latest answer
Provisions are estimated only. So it can be written back
Manu Jacob
CA Final
★ 6K+
1
930
Consolidated financial stt
Accountancy
answered on 09-Jan-25 11:43
In ur example cost of control and minority interest working Note why don't u take Esc and p&l both If u take both in subsidiary u got 70000 instead of 50000 80%(70000) for capital reserve and 20%(70000) for MI calculation will do But u do it with 80%(50000)
latest answer
We need to separate P&L since it is mid year acquisition. And hence done separately.
dhivya annam
CA Inter
★ 1K+
4
384
Spom
Exams
answered on 03-Jan-25 14:37
Whether Set c and d is mandatory to complete to appear for may 2025. still Video lectures were not released for all subjects..
latest answer
Mostly it would be after exams only. Lets wait for ICAI clarification.
Gowtham saminathan
CA Final
★ 21K+
1
1K+
Transfer/ Termination request sent back for correction ( Marriage )
Others
answered on 04-Jan-25 14:48
My Transfer request has been sent back by RO for correction stating that - "insert email content here" Please help me with 1. format of consent letter for the same 2. is it a self declaration form that only requires my signature OR any other persons has to sign it too ?
latest answer
Thank you Sir
Reshma AR Chiranjeevi
CA Inter
★ 1K+
4
1K+
Treasury management
Financial Management
answered on 02-Jan-25 14:30
Illustration 9 Please explain the uncleared funds float part
latest answer
Uncleared funds are basically cheques that you deposit into bank but you will get credit after 3 days In Books of accounts moment you deposit or issue a cheque entry is made, but in bank account money is added / reduced only after a few days There will be a diff between bank balance as per books & Bank ( BRS of ca foundation) Here they are asking you forecast balance as per books of accounts
Elavarasi B
CA Inter
★ 46K+
1
1K+
SPOM
Exams
answered on 02-Jan-25 07:07
I appeared for CA inter exams on nov 23 and cleared both the groups on that attempt . Which Modules of spom i am required to give? Is set C & D exempted for me?
latest answer
Not applicable
Aditya Mittal
CA Inter
★ 0
1
1K+