Forums
Tax expense
Financial Reporting
answered on 15-Jul-24 12:01
Dear Sir/Madam, If different tax rates are applicable for 2 different financial years and some interim period falls in 1 FY and some interim period falls in another FY . Whether the WATR is calculated for 2 FY and the same is used for tax expense or the applicable rate for FY is considered. If calculation of WATR is not correct what is the reason
latest answer
You will calculate WATR for the FY
siva kumar
CA Final
★ 6K+
1
260
Discount
Financial Reporting
answered on 15-Jul-24 12:40
Dear Sir/Madam, In case of Ind AS 115 the discount is reducing from Revenue if there is a single performance obligation. The same i am thinking as trade discount since the discount is given at the beginning of the transaction. Whether the same assuming as trade discount is correct or else create a wrong notion. What if the case the discount is given for the sale is done like cash discount was the same is reduced or else expensed. Thanks in advance
latest answer
Discount referred to in Ind AS 115 is like Trade discount. Cash discount which is given subsequently is not reduced from revenue. It is treated as an expense.
siva kumar
CA Final
★ 6K+
1
202
Investment in debtors
Financial Management
answered on 18-Jul-24 23:23
Sir why we have to take only Cost instead of sales in calculating Return on Investment in debtors. As the profit also we are receiving after credit period . If we done cash sales we will receive cost + profit today and we are going to invest that amount. then why we have to take only cost in calculating ROID
latest answer
Thank you 😊 sir
Harish Kumar
CA Inter
★ 17K+
2
265
MISTA,KE
AFM
answered on 15-Jul-24 21:11
in question 1 lacs given as 10,00,00
latest answer
I am sorry if f you got wrong idea. I am not hating you at all. in fact, I appreciate that you are highlighting errors so that we can correct our mistakes and future students do not face these issues. Also, forums is the preferred method of highlighting. just that putting it our as MISTAKE in caps in a public forum tends to create doubts in the mind of other students especially when the mistake is not a major one. Please post the mistake in forum and mark it in private and i shall correct it at earliest also writing something in caps is considered as speaking in loud voice in internet etiquette - hence wanted to highlight it. have nothing against you. in fact we do appreciate your attention to details https://www.stonybrook.edu/commcms/ombuds/pdfs/Flyer%20-%20Using%20Email%20Etiquette.pdf
ezy pan
CA Final
★ 130
3
179
MISTAKE
AFM
answered on 15-Jul-24 19:46
Increase in sale is 10K but in Solution Table it given as 10 lacs.
latest answer
Okay. got it.
ezy pan
CA Final
★ 130
2
190
Clause 4, Part 1, Schedule II
Auditing
answered on 18-Jul-24 07:06
Mr A was a Designated Partner in LLP. He resigned from the LLP and within 1 year he accepted the assignment of Audit of That LLP. (LLP was covered under Audit requirement). He doesn't any have relative in the LLP. Whether Guilty under clause 4 Part 1, Schedule II?
latest answer
Cooling period as such isn’t mentioned. But there is threat to independence , familiarity threat, self review threat. Till such time, he can’t be the auditor .
Himanshu Somani
CA Final
★ 97K+
3
255
ADVANCED ACCOUNT AS 16 Q 6 ANSWER IS DIFFERENT
Accountancy
answered on 15-Jul-24 12:38
SIR AS 16 Q NO 6 ANSWER DIFFERS FROM CLASS AND IN PRINTED BOOK I.E INTEREST TO BE CAPITALISED RS. 91517 I
latest answer
Both solutions have been accepted by ICAI. Better to follow suggested answer.
GOKUL KOLATE
CA Inter
★ 1K+
1
185
Sec. 10 Penal provision (LLP)
Corporate & Other Laws
answered on 14-Jul-24 11:34
let us assume, LLP & every partner prefers to pay maximum penalty but still continues not appointing DP and fails to report to ROC. What next action ?
latest answer
The penalty given for continuing default will apply in such a situation.
NAGARAJA B.R.
CA Inter
★ 2K+
1
248
Illustration 4
Costing
answered on 14-Jul-24 19:07
In illustration 4 I understood all but the last equation, the 👉🏻how came 0.975
latest answer
1-0.025
Rasika Manjari
CA Inter
★ 0
1
239
Illustration 4
Costing
answered on 14-Jul-24 11:44
In illustration 4 I understood all but the last equation, the 👉🏻how came 0.975
latest answer
1-0.025
Rasika Manjari
CA Inter
★ 0
1
237