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Comment on Month end NAV
AFM
answered on 03-Oct-24 21:31
Shall we give a brief comment that the month end NAV has increased by Rs. 0.35 & by 0.44% from the opening NAV
latest answer
Ok sir
Vigneshwar M
CA Final
★ 2K+
2
736
Ill 18
Financial Reporting
answered on 03-Oct-24 14:50
Initial accounting is as equity or FL? this entry will be passed at the end of 1 year when options are settled?
latest answer
Financial liability Basically a reclassification from equity to FL. Recorded on date of writing put option.
Dhvaritha Ravishankar
CA Final
★ 7K+
1
195
Lease
Accountancy
answered on 03-Oct-24 14:59
Is there any alternative sentence of this journal Like when machine is purchased it's Machine dr To bank And it's asset When we write To Purchase ?
latest answer
Pls share full question for context.
Sushmita Chowdhury
CA Inter
★ 2K+
1
700
CA articleship under New scheme
Others
answered on 03-Oct-24 11:23
Under the new scheme, we can change the articleship from one firm to another ?. If yes, within how many months shall we change and which form to file in the ssp portal ?
latest answer
Check in SSP it will show guidelines
Surya Ravi
CA Final
★ 4K+
1
611
MTP-1
Auditing
answered on 05-Oct-24 08:56
Why for below bit the answer is B ,why not option -A As tender for exclusive CA they shouldn't participate but they participated so they will Be Guilty
latest answer
Points to be considered here are - is tender exclusively for CAs? Yes? He is guilty. But council guidelines clarifies the same with two exceptions 1. Minimum fees prescribed in the tender document or 2. If it’s open for all other professionals too. He shall not be guilty . He we fall under 1 category as mimimim fee is defined as one in commensuration with size n nature . So he is not guilty under clause 6 of Part 1 of first schedule.
Surya Prakash
CA Final
★ 19K+
6
666
Mutual Funds - Illustration 11
AFM
answered on 03-Oct-24 14:42
I think the investment dates are to be included in the holding period. If yes, the dates shall be 1 day after in each of the schemes (i.e., 27-Dec-18, 01-Mar-18 & 23-Jan-18). Kindly clarify sir.
latest answer
Ok sir Will make appropriate assumptions while solving in the exam
Vigneshwar M
CA Final
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5
738
Formula for computation of duration when redemption is at par vs at premium/discount
AFM
answered on 03-Oct-24 12:17
Got a slightly different answer when computing duration using the formula vs using the cash flows method. When analyzed deeper, it seems that the formula will return the exact same duration (as compared to duration calculated using the cash flows method) when the redemption is at par. But, when the redemption value is different from par, there is a deviation w.r.t the premium amount which in turn deviates the duration by a small figure. Is there any alteration to the formula when the redemption is not at par or is the computation using the cash flows method the only way to compute in this situation? I know this is a very advanced analysis & this much interpretation is not required from the examination point of view, yet asking this out of curiosity😁
latest answer
Ok sir
Vigneshwar M
CA Final
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10
1K+
Journal
Accountancy
answered on 03-Oct-24 11:14
Prepare Journal Entries for the following transactions in the books of Gamma Bros. a) Employees had taken inventory worth ₹ 1,00,000 (Cost price ₹ 75,000) on the eve of Deepawali and the same was deducted from their salaries in the subsequent month. b) Wages paid for erection of Machinery ₹ 18,000 c) Income tax liability of proprietor ₹ 17,000 was paid out of petty cash. d) Purchase of goods from Naveen of the list price of ₹ 2,00,000. He allowed 10% trade discount, ₹ 5,000 cash discount was also allowed for quick payment.
latest answer
Sorry I make mistake
Udit chandravanshi
CA Foundation
★ 0
4
2K+
Scope and components of framework
Accountancy
answered on 03-Oct-24 14:59
What is the difference between framework and accounting standard?
latest answer
Framework is the structure or guidance based on which Accounting standards are framed. If on a particular topic, AS are not available, we refer to framework for accounting guidance.
DEBJANI Dutta
CA Inter
★ 0
2
898
The provision mentioned in this case is 186276.
Financial Reporting
answered on 03-Oct-24 09:01
On a provision how can you charge interest? The provision amt can be invested and interest can be earned on such amount invested.
latest answer
Firstly, we are not investing the amount calculated as provision. It is an estimate of decommissioning liability which will be incurred in future. We create liability at present value. This present value increases as time passes due to time value of money/interest component. Hence we add interest to the provision/liability amount. This concept is similar to what you learn in AS-10/AS-29 at CA Inter level.
Pratham NA!K
CA Inter
★ 100
1
624