Forums
Prepaid rent
Costing
answered on 12-Oct-24 09:37
Why does prepaid rent included in the cost of current year's product. Also the entry for prepaid rent is prepaid rent to bank right in current year then the production control account is credited... Please clarify?
latest answer
The rent paid is debited to production oh control account. If there is anything pre paid at the end of the year , we will deduct it from cost by crediting production control account. If there is anything pre paid at the beginning of the period and relates to current year we will debit the production control account and include in cost
07- Issac Jolly-XII C
CA Inter
★ 16K+
1
526
Subsequent unrealised adj
Financial Reporting
answered on 14-Oct-24 12:36
Sir in last min of the video we have unrealised exchange loss of 1120 In the next year we have 2400 exchange loss and 704 of interest amt What to do next ??? 1.. from 2400 mines the 1120(privious amt)bal of 1280 recognised in p/l
latest answer
Adjust against interest and balance in P&L
Suman Hs
CA Final
★ 2K+
1
173
ETHICS
CFA
answered on 11-Oct-24 22:11
Several years ago, Hilton and Ross, a full service investment firm, managed the initial public offering of eCom, Inc. Now, eCom wants Hilton and Ross to underwrite its secondary public offering. A senior manager at Hilton and Ross asks Brent Whitman, CFA, one of its equity analysts, to write a favorable research report on eCom to help make the underwriting a success. Whitman conducts a thorough analysis of eCom and concludes that the company has serious problems that do not suggest a favorable financial outlook. Nevertheless, Whitman writes a favorable report because he is fearful of losing his job. Hilton and Ross publicly distribute a report that only contains a buy recommendation and a brief description of the basic characteristics of eCom. Whitman has violated: A) Both Standard I(B) Independence and Objectivity and Standard V(A) Diligence and Reasonable Basis. Correct Answer B) Standard I(B) Independence and Objectivity, only. Incorrect Answer C) Standard V(A) Diligence and Reasonable Basis only. Incorrect Answer why is option B NOT the ans cuz in this case whitmen Several years ago, Hilton and Ross, a full service investment firm, managed the initial public offering of eCom, Inc. Now, eCom wants Hilton and Ross to underwrite its secondary public offering. A senior manager at Hilton and Ross asks Brent Whitman, CFA, one of its equity analysts, to write a favorable research report on eCom to help make the underwriting a success. Whitman conducts a thorough analysis of eCom and concludes that the company has serious problems that do not suggest a favorable financial outlook. Nevertheless, Whitman writes a favorable report because he is fearful of losing his job. Hilton and Ross publicly distribute a report that only contains a buy recommendation and a brief description of the basic characteristics of eCom. Whitman has violated: A) Both Standard I(B) Independence and Objectivity and Standard V(A) Diligence and Reasonable Basis. Correct Answer B) Standard I(B) Independence and Objectivity, only. Incorrect Answer C) Standard V(A) Diligence and Reasonable Basis only. Incorrect Answer why B is not right because whitmen before issuing a report he indeed done an extensive research on the company so he didt violate 5A....pls explain
latest answer
He conducted sufficient diligence but there was no basis for his recommendation
Dhakshana Dhakshana
CFA L2
★ 18K+
2
628
Excel Sheet - Figures cannot be viewed
AFM
answered on 11-Oct-24 19:07
I cannot view the entire figures in the excel, saying its protected. Can I get the password to unprotect the sheet?
latest answer
Excel sheet is our IP. Regret cannot share password IF some testy is not visible pls share a screenshot and I shall re upload excel sheet ensuring all numbers are visible All solutions are also available in p600+
Dilip Kumaran
CA Final
★ 610
1
202
Illustration 45
Financial Reporting
answered on 14-Oct-24 12:37
In our case, Rs 68000 being the service charge in illustration 45, as it is a single contract, why we did not included it in lease liability and why expensed out?
latest answer
Treat it as a single contract for consideration calculation. Non lease component should be expensed
Hrishikesh Pradhan
CA Final
★ 18K+
1
629
12/2017 para 7
Indirect Taxation
answered on 13-Oct-24 19:25
in this notification 10l aggregate is for spl category states in this all 11 are consider or not?
latest answer
Yes. All are covered. For registration purpose, only 4 are covered.
Saniya Balekai
CA Inter
★ 285
1
192
ethics
CFA
answered on 10-Oct-24 19:32
John McNeal, CFA, has a friend named Stan Green, a journalist at Investment News, a weekly magazine. In one of their conversations, Green tells McNeal he has written an article about undisclosed financial problems at Brightstar Company. Green says the article will appear in the issue of Investment News that will be released tomorrow. According to the Standards, McNeal: A) may not act on this information. Correct Answer B) should ask Green to disseminate the information immediately. Incorrect Answer C) may act on this information because it is in the process of becoming public. why is option b not the ans??if a person recive material non public info he should 'NOT' act on it right its not MAY not act and also he should tell the the firm to make the material non public info public this is what is learned pls explain
latest answer
Public info
Dhakshana Dhakshana
CFA L2
★ 18K+
1
630
ethics
CFA
answered on 10-Oct-24 19:29
Fred Dean, CFA, has just taken a job as trader for LPC. One of his first assignments is to execute the purchase of a block of East Street Industries. While working with East Street on an assignment for his previous employer, he learned that East Street's sales have weakened and will likely be significantly below the LPC analyst's estimate, but no public announcement of this has been made. Which of the following actions would be the most appropriate for Dean to take according to the Standards? A) Contact East Street’s management and urge them to make the information public and make the trade if they refuse. Correct Answer B) Post the information about the drop in sales on an internet bulletin board to achieve public dissemination and inform his supervisor of the posting. Incorrect Answer C) Request that the firm place East Street’s stock on a restricted list and decline to make any trades of the company’s stock. why is option A correct??and pls explain in what case a firm should place a stock on restricted list
latest answer
Material info
Dhakshana Dhakshana
CFA L2
★ 18K+
1
870
Offences and penalties
Indirect Taxation
answered on 25-Oct-24 14:55
Section 122(1A) and 122 (1B) is not taken
latest answer
Will check and revert.
Krishna prasad e
CA Final
★ 16K+
3
647
Regarding Exemption CA Inter 2nd Group
Exams
answered on 10-Oct-24 15:19
I have Passed Group 1 in Old Syllabus, So now I only have to Paper 5 & 6 in New Syllabus (Auditing, FM SM) Can I get Exemption (1 Paper) in this Group, if yes how much I should score in next Attempt for 1 Paper 40 or 50.
latest answer
Thank You Sir
Muhammed Sabith
CA Inter
★ 0
2
724