Forums
Plant?
Financial Management
answered on 21-Sep-24 20:03
How does the plant it considered as wc?
latest answer
Why do you state that we are working on only on WC? Did faculty say that anywhere or is it your assumption? If you have a business say a provision store and say you have to buy a refrigerator, will you consider cash outflow w.r.t the fridge in your cash flow plans or not?
07- Issac Jolly-XII C
CA Inter
★ 16K+
3
575
house property
Direct Taxation
answered on 23-Sep-24 17:34
as per the sections of deemed owner in income from house property in case when the property is transferred to minor child (other than minor married daughter ) or spouse, then the transferor is deemed to be the owner. So if the property is transferred to a major child then who is deemed to be the owner?
latest answer
Major child itself since the concept of deemed owner will not apply.
Niveta Rajkumar
CA Inter
★ 6K+
1
525
Regarding Syllabus - 2
Auditing
answered on 21-Sep-24 00:54
In this particular part of the lecture it is given as Company Audit (Optional) (as it is mentioned optional)so it is not there in the new syllabus ma'am? Because in relation to Company audit I can't find anything in the institute study material ma'am. Kindly clarify whether this chapter is there or not in the new syllabus ma'am.
latest answer
The chapter will be helpful in your corporate law paper. Not a part of audit syllabus anymore.
Kalaiarasi Sowtharman
CA Inter
★ 470
3
642
Regarding Syllabus
Auditing
answered on 22-Sep-24 15:35
Ma'am, SA 600 " Using the work of another auditor" is not there in the new syllabus ? Because I can't find anything in relation to this SA in the Study material. Kindly clarify my doubt ma'am.
latest answer
For exam , since it’s not part of syllabus direct questions we don’t expect: but with reference to branch auditors, it can be questioned. You can go through the summary at the end of the entire standard .
Kalaiarasi Sowtharman
CA Inter
★ 470
3
589
Debtors
Financial Management
answered on 21-Sep-24 05:16
Why the debtors computed at total cost other than creditsales Because in debtors collection period=average detors whole divided by credit sales ×360 days Now average debtors=debtors collection period ×credit sales whole divided by 360 days
latest answer
Debtors are computed w.r.t credit sales made credit sales = total sales x 4/5 average collection period if 4 weeks, so 4 weeks of credit sales are considered as outstanding here they clearly provided credit sales ratio and cash sales ratio separately hence we are doing this way if they say overall average collection period is x days then we will consider collection period for cash and credit ales combined
anju B
CA Inter
★ 21K+
1
590
Credit sales
Financial Management
answered on 21-Sep-24 05:10
Here, it is given that the company sells one fifth of the output *against* cash Then one fifth credit sales Remaining four fifth cash sales right? Then why we wrote vice versa
latest answer
1/5th against cash mean they make sale and get cash, cash is exchanged against goods if 1/5th is cash then 4 /5th is credit right?? it is plain English - do not over interpret
anju B
CA Inter
★ 21K+
1
561
Set C and Set D of SPOM applicability
Exams
answered on 23-Sep-24 10:43
I cleared my CA inter in July 2021, my articleship start date is 18/8/2022 and end date is 17/8/2025. I will appear for CA final in May 2025. Is Set C and Set D of SPOM applicable to me?
latest answer
No
Raviteja Kusumanchi
Qualified CA
★ 42K+
1
974
Business Combination - Contingent Consideration
Financial Reporting
answered on 23-Sep-24 10:45
Sir if it is Equity issuable on consideration we will remeasure know sir Through FVTOCI or FVTPL as per ind AS 109. Why it was not remeasurable in chapter Ind AS 103
latest answer
If the consideration is fixed number of shares - it is classified as equity and it would not be re-measured. The classification through FVTOCI or FTVPL is for asset i.e investment. But when a company issues, these are not assets.
M Naresh
CA Final
★ 3K+
1
591
SA 299 Joint Audit of Financial Statements
Auditing
answered on 22-Sep-24 15:36
Ma'am can you please share example/s for common and specific allotted areas of Audit.
latest answer
👍
Kalaiarasi Sowtharman
CA Inter
★ 470
3
704
Consolidated financial st
Accountancy
answered on 23-Sep-24 11:14
Unrealised profit WHY is not shown in analysis of profit and deducted from consolidated reserve and minority ?
latest answer
It is adjusted separately. You can show in analysis of profits as well if subsidiary has sold to holding.
Sushmita Chowdhury
CA Inter
★ 2K+
1
514