Forums
allocation
Financial Reporting
answered on 03-Oct-24 14:58
sir why we allocate ( balance impairment loss of 100000) first to plant and machinery
latest answer
Impairment allocable to plant and machinery is 62,500. But since Recoverable amount is 50,000 hence we charged maximum impairment i.e 50,000 to P&M. Alternatively what you can do is, allocate 1,00,000 of impairment to P&M, Electric equipment & Patents. Then extra impairment of 12500 from P&M, you can reallocate to electric equipment and patents.
Suman Hs
CA Final
★ 2K+
1
294
Audit
Auditing
answered on 05-Oct-24 09:00
When I need to do audit for trust
latest answer
Trust are required to get their accounts audited depending upon laws governing them. Example - charitable trust wil require under income tax act, If they are accepting foreign contributions, then under FCRA, if they are registered under respective state laws, then the law would require them to get accounts audited.
Sruthi sruthi
CA Final
★ 640
3
703
ECONOMICS
CFA
answered on 07-Oct-24 13:12
Firm increases its plant size by 10% and minimum average total cost increases by 10%. The firm is experiencing this A economy of scale B constant return to scale C diseconomies of scale the ans is c pls explain why .
latest answer
To figure out if an economic indicator is leading, lagging, or coincident, it's all about timing. when the indicator shows movement relative to the overall economy. Leading indicators are like a "heads-up" about where the economy might be headed. Ex: More building permits usually mean future construction, which signals growth ahead. This makes it a leading indicator because it gives early signs of economic movement. Lagging Indicators come after the economy has already shifted, kind of confirming that a trend has taken place. Ex: The unemployment rate doesn’t drop right when the economy starts improving, or rise the moment things slow down. It's a lagging indicator because it reacts after the economy has already moved. Coincident Indicators happen at the same time as economic changes, giving a snapshot of the current situation. Ex: Inventory to sales ratio shows how well businesses are balancing what they have in stock with what's being sold. It's a coincident indicator because it reflects the current state of the economy.
Dhakshana Dhakshana
CFA L2
★ 18K+
6
891
FI
CFA
answered on 30-Sep-24 13:54
Pls explain sinking fund provision in bond
latest answer
Sinking fund
Dhakshana Dhakshana
CFA L2
★ 18K+
2
727
Article ship
Others
answered on 30-Sep-24 15:54
Can I change my article ship after completion of 1 year
latest answer
Principal as well as ICAI.
Sruthi sruthi
CA Final
★ 640
4
832
NAV
AFM
answered on 30-Sep-24 06:56
Sir NAV as per 30.09.2016 is Rs.60. So as on that day, the NAV calculated will also include dividend accrued till the date i.e it will also includes Rs.5/Unit as per NAV formula right? (Rs.60 is already inclusive of Rs.5 or not).
latest answer
This is an introductory question to help understand the concept of div equalisation reserve Assume NAV IS excluding dividends earned In exam if question is asked they will be specific whether Div is part of NAV or not Pls look at subsequent questions where this has been handled more appropriately Also in exam you have to make a suitable assumption if things are not clear
Mohanbabu N
CA Final
★ 3K+
1
306
Is it important to know and learn byheart the disclosures of all the Accounting Standards
Accountancy
answered on 30-Sep-24 12:46
Is it important to know and learn byheart the disclosures of all the Accounting Standards
latest answer
Be conceptually clear that you are able to solve sums.... Learning key definitions helps in better presentation... For example AS 16 learn qualifying asset
Dova Shaji
CA Final
★ 520
6
735
FSA
CFA
answered on 29-Sep-24 08:19
Please explain what is Spinoff and its implications in books of accounts
latest answer
Spinoff
Dhakshana Dhakshana
CFA L2
★ 18K+
1
548
difference b/w section 54ec, 115f and exemptions for nris thereunder, doubts in amendments
Direct Taxation
answered on 13-Oct-24 19:29
sir i have some doubts, 1. kindly explain differences b/w sec 54ec and 115f apart from the fact that 54ec applies to any assessee, 115f only for nris (language/intended meanings, legislative intents are similar in both sections) 2. can nris claim both exemptions or there is restrictions or conditions in claiming both exemptions (can cross exemption be claimed like cross utilisation of itc in gst) 3. in supplementary SM containing amendments for Nov 24 ca finals, under lesson 10 (charitable trust, etc) one cbdt clarification is issued wrt section 11 on application of 85% of income, donations to another trust. i would like to know: a) if circulars like these come in exams or just we can read inly notifications like in gst b) kindly clarify this one sir. in second regime, u/s 11. explanation 4(iii), read with 11(1)(a), legislative intent is that: a trust has to apply atleast 85% of income for objects of trust (can be accumulated only upto 5 yrs), set aside balance 15% for application (accumulate indefinitely). in the example given for clarification, they have dealt with donation to another say rs 100, but there 85% limit calculated even on such donation, whereas 85% should be calculated only on income part and then subtract full donation which is what we were doing ealrier. but here its done as 85% on income u/s 11, less 85% on donation. further it says donation fully incurred/paid and hence no question of balance 15% free accumulation. so 15% of donation does not qualify as application i dont understand the treatment sir. kindly explain in detail sir. References/Sources: 1. Supplementary SM of ICAI (pg 5, 6) 2. Circular No. 3/2024 dt 06.03.2024
latest answer
Both are similar sections and Section 115F is only for NR.
Rohit Ramesh
CA Final
★ 0
1
6K+
CA Finals both groups Nov 2024 study plan for last 1 month prior to exams
Exams
answered on 29-Sep-24 10:04
sir kindly provide: 1. all papers of CA Finals both groups Nov 2024 study plan for last 1 month prior to exams 2. abc analysis of topics, important questions and key chapters list for all subjects this would be really useful if provided. thank you sir
latest answer
Will be realising a video on this on Oct 1, 2024 on our YT channel. Will send out a notification too We have already released imp questions list for fr and AFM on YT. Pls check them
Rohit Ramesh
CA Final
★ 0
1
765