audit and auditors

answered on 14-Oct-24 22:23

difference between removal of auditors and appointment of auditor other than the retiring auditor? is it that removal of auditor is done by the companies and appointing other than the retiring auditor is done with the request of its shareholders?

latest answer

thank you

Niveta Rajkumar

CA Inter

★ 6K+

2

618

Estimation of wc

answered on 14-Oct-24 20:50

Can we assume opstocknof rm and cl stock of rm is same while computing creditors in current liabilities

latest answer

No - Creditors are clearly given as 1 month OS No info on opening stock is available - you cannot assume that

Harish Kumar

CA Inter

★ 180

1

509

Estimation of wc

answered on 14-Oct-24 20:44

Why raw material closing stock value of 120000 is not considered while computing creditors in current liabilities

latest answer

There is no rule that all Closing should be unpaid The question clearly says, CL = 1 month of RM so computed as 9000 x 80 x 1/12

Harish Kumar

CA Inter

★ 180

1

521

RATIO ANALYSIS

answered on 15-Oct-24 08:56

WORKING NOTE No 5 - Computation of Proprietary funds in that, they have used debt-equity ratio where they show preference share capital separately but EQUITY = EQUITY SHARE CAPITAL + PREFERENCE SHARE CAPITAL + RESERVES AND SURPLUS

latest answer

Almost always

NANDHINI U S

CA Inter

★ 37K+

6

604

PAS

answered on 20-Oct-24 21:31

For variation of terms of contracts in Special Resolution through postal ballot is required. Notice has to be published in 2 newspaper Then here the answer should be option (c) right?

latest answer

please attach image of question

Soon to be CA

CA Inter

★ 4K+

1

461

Can trade payables be taken as lenders?

answered on 15-Oct-24 10:17

In the solution loan was taken as lenders. Is it ok to take trade payables as lenders and solve.

latest answer

Trade payables are creditors for purchases of goods and services. You cannot take trade payable as loan.

Nova Shaji

CA Inter

★ 2K+

1

571

NPO

answered on 15-Oct-24 10:28

9th question answer with the detailed explanation of the question

latest answer

Please solve it by yourself, if you have any doubt while solving ask here

Ranjit Kummar

CA Foundation

★ 590

2

497

Working capital based on value and time-work in progress

answered on 14-Oct-24 17:08

Could you explain why are we not splitting wip into RM, labour, OH when it comes to estimation of WC wrt To time and splitting in case of value. I have seen the class but still i can't get it

latest answer

Pls refer page 9.4 & 9.5 https://resource.cdn.icai.org/81834bos65985-cp9u1.pdf W.r.t time it is just split as permanent & fluctuating & Value as Gross & Net fixed assets W.r.t value - this is what is mostly followed

07- Issac Jolly-XII C

CA Inter

★ 16K+

1

558

ORDER OF STUDY

answered on 14-Oct-24 17:33

In Which Order, GST and Costing/FM Chapters we must study?

latest answer

Okay Sir!!..Thank You So much!!

Sr the Unique

CA Inter

★ 10

4

653

ethics

answered on 14-Oct-24 10:46

Paul Thomas, CFA, is designing a new layout for research reports his firm writes and issues on individual stocks. In his design, Thomas includes a stock chart on the first page of each report. He does not reference that the charts are copied from the Standard & Poor's website. Thomas has: A) violated CFA Institute Standards of Professional Conduct because he did not state the source of the charts. Correct Answer B) violated CFA Institute Standards of Professional Conduct because he did not make sure that the information in these charts is accurate. Incorrect Answer C) not violated CFA Institute Standards of Professional Conduct because these charts are widely available over the internet. pls explain why option C Is not the correct answer as per standards if we use any charts or resources from widely available platform it does not reference right?

latest answer

Everything has to be referenced. Where items are proprietary, permission has to be taken

Dhakshana Dhakshana

CFA L2

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1

417