Forums
KAM
Auditing
answered on 26-Aug-24 11:38
Except listed and law governing entities whereas the other entities does not require KAM only if the auditor beleives it necessary.what if the auditor does not beleive to report in KAM ,then KAM should be write as u said or otherwise KAM will be left out in the audit report
latest answer
In case of listed entities, it’s compulsory to have KAM. If auditor finds no matters which are significant to be reported as KAM , even then he has to bring this paragraph and mention that he hasn’t considered any matter to be reported as KAM. But reporting is mandatory. Check the explanation where if no KAM is identified .
Satya Reddy
CMA Final
★ 1K+
1
311
Income Tax Revision Lectures May 24
Others
answered on 17-Aug-24 11:33
I have purchased May 24 income tax revision lectures. I wish to watch it once again. Its shows that course has expired. How can I activate it.
latest answer
Hi Swetha, Our team tried reaching you but couldn't connect. Kindly let us know when would be the best time to have a word with you or reach us back on 9640111110.
Soon to be CA
CA Inter
★ 4K+
1
256
Chapter 9.2 - Treasury and Cash Management
Financial Management
answered on 19-Aug-24 16:58
ICAI Mat - Illustration - 8 (pg.9.51) : In the Problem, while computing Net Cash Inflow at last, Rs.50 lakhs is deducted as mentioned "Cash required for increase in stock". Where did this amount comes from? Pls explain
latest answer
Thank you. Got it
Nikil Karol
CA Inter
★ 115
2
328
Risk Management
AFM
answered on 17-Aug-24 12:37
Sir, Why we multiplying SD % in 2AB , as per my understanding SD1 & SD2 are cancelled by Cov1,2/SD1 , SD2 while we substitute in P formula.
latest answer
Thank you Sir
Prethivi Rajan
CA Final
★ 9K+
2
304
AS 16
Accountancy
answered on 17-Aug-24 01:03
here in this question, where did 52,50,000 Rs came from?!
latest answer
We are calculating the average accumulated interest. And then reducing the specified loan part from it. That is 50 Lakhs. And on the balance part that is 2,50,000 we apply 9.6% to arrive at the interest. So the interest to be capitalized is 1. On specified loan [50,00,000 × 8%] 4,00,000 2. On general Borrowing [(52,50,000 - 50,00,000) ×9.6%] 24,000
Niveta Rajkumar
CA Inter
★ 6K+
1
421
depreciation
CFA
answered on 18-Aug-24 12:48
Around 36:30, under the double declining ( depreciation) method, shouldn't the useful life also be reduced at the end of each year while substituting the same in the formula ( 1st year 10 then 2nd year 9 years of useful life)? Why or why not ?
latest answer
Hi, I don’t see any major logical flaw in using a decreasing life each year. There are various ways of implementing accelerated depreciation, this is one of the method prescribed in CFA curriculum. Probably the reason for choosing this way could be that it spreads the depreciation more evenly vs. using a decreasing life each year (see the attachment)
Vasudha TK
CFA L1
★ 70
1
322
capitalising vs expensing
CFA
answered on 18-Aug-24 13:00
Around 20:40, is the first metric asset turnover ratio ? If yes, then will capitalising an expense not reduce the asset turnover ratio as the value in the denominator is increased ?
latest answer
Hi, The first line talks about the impact on total assets only doesn't refer to ratio. Yes, if we talk about asset turnover ratio, capitalizing will decrease the ratio.
Vasudha TK
CFA L1
★ 70
1
273
HUF
Direct Taxation
answered on 12-Nov-24 09:36
Where is Hindu Undivided Family Video ?
latest answer
Person includes HUF. That would be sufficient to know. Dayabhaga law and Mithakshara is given in ICAI material for knowledge.
V Ajith Kumar
CA Inter
★ 2K+
3
353
Journal
Accountancy
answered on 17-Aug-24 00:43
I need Solution and explain for this sim
latest answer
You're welcome
Muthu Manickam
CA Foundation
★ 100
6
380
Regarding Impairment loss recognised
Financial Reporting
answered on 21-Aug-24 12:57
Sir, suppose the asset is not sold. The reversal of impairment loss is restricted to 2.5lakhs. Excess of FV less cost to sell amounts to 3.5lakhs.The carrying amount is revised to 29lakhs, and the FV less cost to sell is 30lakhs, do we need to recognise impairment loss of Rs.1lakh?
latest answer
okay
S Shriram
CA Final
★ 0
5
221