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Shouldn't all 3 auditors be responsible?
Auditing
answered on 06-Jan-25 11:53
As discussed, if one auditor brings forth an issue to other auditors for their advice or discussion, and the other auditor along with the auditor who identified the issue decided not to report it. They decided together. They might have given justification as to why it is not a significant deficiency. So since this matter was brought to other auditors and they decided not to report it, shouldn't all the auditors be liable.
latest answer
All will be liable to matters where they have discussed and come to a decision together. It will become common audit area
Manu Jacob
CA Final
★ 6K+
3
241
Replacement decisions
Financial Management
answered on 30-Dec-24 15:17
IN Illustration 47 , while calculating terminal cash inflow, we are finding only TCI but in previous sums we have calculated the incremental TCI for the computation of Incremental NPV. Why?
latest answer
At Minute 21 faculty explained that aspect - details of OLD machine salvage value are not provided, only those of new machine are provided. When no sale price details etc are provided how will you compute the value for the old machine and how will you compute the net value?
Venkatesh
CA Final
★ 0
1
917
Discontinued operation
Financial Reporting
answered on 30-Dec-24 14:38
Can you give an example for a part of a single coordinated plan to dispose of a single major line of business or geographical area of operations.
latest answer
Say a company has hardware and software divisions. Hardware division has two plants - In Bangalore and Pune. The company wants to sell hardware division. In the process the company wants to dispose bangalore plant and pune plant. Sale of Bangalore Plant is a part of single co-ordinated plan.
SANJITHA
CA Final
★ 1K+
1
246
Accounting in the books of the lessee
Financial Reporting
answered on 30-Dec-24 15:20
Why the lease incentive is not Adjusted against the future lease payment while calculating the lease liability? as the lease incentive should also be adjusted against the lease payments
latest answer
We are receiving the amount upfront. It is not reducing our liability in the future.
natarajan k
CA Inter
★ 3K+
1
835
TDS u/s 194P
Direct Taxation
answered on 02-Jan-25 23:51
Why do we add 10000 in tax payable computation?
latest answer
Correct.
Soon to be CA
CA Inter
★ 4K+
2
923
accounting in the books of lessee
Financial Reporting
answered on 30-Dec-24 15:23
in this question can we treat the advance payment of Rs.500000 is made before the commencement of the lease and also the lease payment being made at the end of each year instead of the beginning of the year.
latest answer
This is just an example for calculation purpose. We need to look at the exact wording of question to compute.
natarajan k
CA Inter
★ 3K+
1
775
Cost to Sell
Financial Reporting
answered on 30-Dec-24 15:25
Sir, Can we assume that transportation cost is also incurred by seller itself as question is not clear regarding who incurred the transportation cost.
latest answer
After purchase, transport cost was 1000 indicates it was paid by buyer.
Gunda Sharan
CA Final
★ 150
1
392
SPOM Applicability
Others
answered on 30-Dec-24 15:30
Sir, I completed My ca-inter in May 2023 . And I have written my first attempt ca final In May 2024. When it will be applicable? Is it before applying for membership? Or Before appearing for May 2025 ?
latest answer
ICAI has not clarified yet. Since A & B are testable in IBS, pls complete it.
M Naresh
CA Final
★ 3K+
1
883
CA FOUNDATION JUNE 2025
Exams
answered on 30-Dec-24 15:26
is ca foundation is may or June 2025? can anyone clarify the month please...
latest answer
Mostly May 25
Viswas
CA Foundation
★ 470
2
1K+
Tp concept I also not cover in 1fin books that why I referring icai study material side by side cross check I doing
Direct Taxation
answered on 30-Dec-24 12:38
Your teaching good excallance but ppt confusing me some
latest answer
Go by the content explained in the lecture. That is most important.
R G
CA Final
★ 9K+
2
412