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Convexity ajustment
AFM
answered on 06-Aug-24 15:51
As given convexity should be already divided by 2, why are we again multiplying 0.5 in convexity adjustment part?
latest answer
We have corrected the solution - thanks for highlighting
Durai Murugan
CA Final
★ 470
3
553
Due attempt for CA final
Exams
answered on 24-Jul-24 19:28
If we pass CA inter either in Sept 24 or Jan 25 does the CA final attempt fall in Nov 2027 taking in all the 6 month study period falling after completion of 2 years of articles ? Also in those 6 months study period ,should we have to finish other mandatory courses self paced modules, Advanced ITT and orientation or after finishing all these courses only 6 months is calculated ?
latest answer
Cutoff date to start articleship is 30th April 2025. Final attempt is dependent on articleship SPOM you can do alongside Articleship
Harish Chandar T
CA Inter
★ 5
1
833
Embodying future benefit
Financial Reporting
answered on 26-Jul-24 09:10
In definition of liability , the outflow from the entity of resources embodying economic benefits - meaning sir by creating provision what economic benefit will entity enjoy
latest answer
We do not enjoy economic benefit. Say for example, if you create provision, you may have to pay in future. So there is an outflow of economic resources from the entity.
HEMAVATHYSUBRAMANI SUBRAMANI
CA Final
★ 3K+
1
183
Old tax regime
Direct Taxation
answered on 25-Jul-24 10:27
In 1 or 2 years if the old tax regime cease to exist then there wouldn't be a concept of Deduction,Intexation right?
latest answer
Yes, but there will be achange in laws and amendments that needs to follow
Dhakshana Dhakshana
CFA L2
★ 18K+
1
303
Restating the Fs
Financial Reporting
answered on 26-Jul-24 09:14
Retrospective changes made in FS means , the Fs are already filed as per IT act now changes made as per Ind As will not have any consequence? sir.
latest answer
For some accounting policy changes, Income tax act may not allow such deductions. It has to be seen on a case to case basis. There is a detailed reconciliation to be given as per Ind AS.
HEMAVATHYSUBRAMANI SUBRAMANI
CA Final
★ 3K+
2
264
SA 315 & Other Topics
Auditing
answered on 26-Jul-24 18:17
Dear Mam, Is there any other material is using for teaching Audit Paper ? If suppose kindly provide the same. Because some of the concepts & topics were not found in the provided material. Ex : Significant Risk areas in SA 315 Matters to be included in Letter of Weakness Risks in CIS Environment - SA 315 Awaiting for your assistance.
latest answer
Significant risk is covered in standard. IT related risk is covered in Automated environment
Sathiyanarayanan P
CA Final
★ 7K+
4
330
SA 315 & Other Chapters
Auditing
answered on 25-Jul-24 21:55
Dear Mam, Is there any other material is using for teaching Auditing Paper ? Because some of the concepts were not found in the provided material. Ex: Significant risk areas in SA 315 Maters to be included in Letter of Weakness And other concept also Awaiting for your assistance.
latest answer
No. You Must have seen only the standard content, this is included in the theory part ( other than standards) .
Sathiyanarayanan P
CA Final
★ 7K+
1
189
SQC1 AND SA 220
Auditing
answered on 25-Jul-24 16:58
IF FOR EXAMPLE IAM THE PARTNER OF BDO now iam the engagement partner to the ABC LTD . AM I right that SA220 applies to me and SQC1 applies to BDO
latest answer
SA 220 applies with respect to audit engagements in particular where responsibility is entrusted on Engagement partner for quality of audit performed. SQC 1 applies in the context of all engagements taken up by the firm including audit. Firm as a whole designs quality control polices for quality of all the engagements performed by them
Vijay Ajith
CA Inter
★ 4K+
1
190
General Doubt regarding Exam
Financial Reporting
answered on 24-Jul-24 15:29
Sir, in the exam, if they do not specify the Method to be used (Direct/Indirect), which one should we use?
latest answer
Indirect. Mostly with given info you will understand
Antara MuraliKrishnan
CA Final
★ 20K+
1
265
ill 26
Financial Reporting
answered on 26-Jul-24 16:12
sir the no of years getting confused . can u explain once how it is 4years not 3years
latest answer
Commencing three years later from the end of first phase. So after 1 year - 3 more years.
HEMAVATHYSUBRAMANI SUBRAMANI
CA Final
★ 3K+
1
234