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Amortization formula
Financial Reporting
answered on 10-Jun-24 17:16
Amortization = (Total cost / Total expected output)*Output for the year. Here, whether actual output to be taken as output for the year or Expected output to be taken ? In the same question , targeted and actual outputs are given (actual differs from target). No revision has made by the management. In this case, while applying in the formula , actual output to be taken as output for the year or expected output for the year to be taken?
latest answer
IN year 2 we have take actuals for Year 2 and expected for future.
Swathi S
CA Final
★ 975
1
155
Rule 88B(3) interest calculation
Indirect Taxation
answered on 11-Jun-24 12:51
is it correct method to calculate interest calculation and reversal would done at 20/10/2022?
latest answer
Practically department is not considering fresh ITC availed. They are considering only till the time the ITC wrongly claimed is utilised.
sameer fahad
CA Final
★ 5K+
1
322
Change in registered office within same state shifting from jurisdiction of ROC to another
Corporate & Other Laws
answered on 11-Jun-24 14:26
As underlined in the picture, there is a contradiction between Section 12(6) of the Companies Act and Rule 28 of the Companies (Incorporation) Rules. I am confused about both. • Section 12(6): RD Order within 30 days and filing within 60 days. • Rule 28: RD Order within 15 days and filing within 30 days. Additionally, Rule 28 talks about an order approving the alteration of the MOA for the transfer of the registered office within the same state. However as per my knowledge, the MOA does not get altered for a change within the same state, as Clause II of the MOA contains only the name of the state. Please help me clarify the doubt.
latest answer
There is conflict in the provision of Rules and section here. However, the provision of the section shall apply in this case (Order within 30 days and filing within 60 days) Regarding MOA Clause II, besides name of the state , the registered office jurisdiction is also mentioned mostly. Hence the (rules in the image uploaded) use that language. However, in case the State where registered office is located is not changed, then other requirements for alternation of MOA need not be followed.
Monisha KM
CA Inter
★ 825
1
617
Answers in Book
AFM
answered on 08-Jun-24 21:17
Hi sir, In the book the answer for part 1 is given as 5.555 lakhs
latest answer
Pls check latest book Shared from *1FIN by Indigolearn* CA FINAL AFM P 600 + https://1fin.link/resource/c631ed476165487eb04b4477ae3986e3/0e0d1cfb2629485cb4e74ddd0c1d26b9
B. Dinesh
CA Final
★ 3K+
1
310
PGBP
Direct Taxation
answered on 08-Jun-24 18:30
Is donation to trade association a deductible expenditure under PGBP ?
latest answer
No it is not. If it is membership fee then Yes.
Mainak Chakraborty
CA Inter
★ 0
1
316
solving part 2 using an example
AFM
answered on 08-Jun-24 13:17
Hi sir, in part 2 USD appreciates by 3%. if we take 100 as exchange rate in the beginning of the year and (100+(100*3%)) 103 as exchange rate at the end of the year. So we had 10,000 INR, we converted into 100 USD and invested in US, then we got 3 USD as Capital gain and 3 USD as interest. So the total return is 6 USD. So the return in INR is 6*103 = 618INR and our initial investment is 10,000 INR. so the return is 618/10000 =6.18%. But we got 9.18% in part 2. Can you please give me one example for part 2 sir
latest answer
Day 0 - USDINR = 100 i.e 100 INR per USD 10000 INR give us100 USD Invest 100USD in US Market Get 3% coupon and 3% gain on value of investment ie total Return in USD = USD 6 - Year end value of investment in USD = 106 Year End USDINR Rate = 103 Year END Convert USD to INR = closing Investment value 106 USD x exchange rate 103INR per USD = INR 10918 Return = 9.18%
B. Dinesh
CA Final
★ 3K+
1
340
Adding & Subtracting Interest rates
AFM
answered on 08-Jun-24 11:55
Hi sir, In all the previous cases whenever we add interest rates we will multiply them{(1+5%)(1+6%)}, whenever we subtract them we will divide the rates{(1+5%)/(1+6%)}. But here when rupee is appreciating the return will reduce so we should subtract rates, so we should divide them. but why here instead of dividing we multiplied but with "-" sign i.e (1+6%)*(1-3%)?
latest answer
Here also we are doing the same If int rate is -3% We multiply by( 1 - 3% )and if int rate is 3% then we multiply by (1+3%) In foundation you would have learnt abt gross profit computation Think of 25% gross profit on sale price or on cost price If SP is 100 then gp is 25 if gp is 25 % of SP and CP is 75% of SP CP = SP (1-GP%) IF SP IS 100 then GP IS 20 if GP IS 25% of CP and CP IS 80 CP = SP / (1+GP%) Same logic like above applies in the current case also When does one multiply 100
B. Dinesh
CA Final
★ 3K+
1
351
Downside Risk
AFM
answered on 08-Jun-24 11:33
What is mean by downside risk???
latest answer
Loss 😀
Surya Prakash
CA Final
★ 19K+
3
294
calculator
Exams
answered on 09-Jun-24 18:24
which type of calculator should purchase for CA foundation
latest answer
https://www.amazon.in/Casio-MJ-12D-Desktop-Calculator-Grey/dp/B0752LL57V/ref=sr_1_3?crid=2IK27WGXRQ188&dib=eyJ2IjoiMSJ9.CLfic0cyeENaQf3bwKzSqOPqfBZlHsEbKBtQkgm3U2LAppzrwuRbhBZEEgxH80PJLY0Ifk6_CLmfPT7Hdnf7P-3XQh_rl66BTNA5B15xsXXExieCGWZfqpSY1wAPDuyWOptOZeXLvlMjnXpW0vgSuA9cAuQIGZxTpy99Qa7xTyKHLyXcdBDu_yZfHXvQ3_7nEL7nP8oRaliNJ2IqzJFv9cnAISIMkB6wpq0w4_6El0w.vJynsw-bkXvv4bgCids_7lQZk6dUgnq7TjyZtZjMSrg&dib_tag=se&keywords=citizen+calculator&qid=1717937648&sprefix=citizen+%2Caps%2C221&sr=8-3 or this https://www.amazon.in/Orpat-OT-512GT-Calculator-Black/dp/B01I1AZJ1K/ref=sr_1_4?crid=2IK27WGXRQ188&dib=eyJ2IjoiMSJ9.CLfic0cyeENaQf3bwKzSqOPqfBZlHsEbKBtQkgm3U2LAppzrwuRbhBZEEgxH80PJLY0Ifk6_CLmfPT7Hdnf7P-3XQh_rl66BTNA5B15xsXXExieCGWZfqpSY1wAPDuyWOptOZeXLvlMjnXpW0vgSuA9cAuQIGZxTpy99Qa7xTyKHLyXcdBDu_yZfHXvQ3_7nEL7nP8oRaliNJ2IqzJFv9cnAISIMkB6wpq0w4_6El0w.vJynsw-bkXvv4bgCids_7lQZk6dUgnq7TjyZtZjMSrg&dib_tag=se&keywords=citizen+calculator&qid=1717937648&sprefix=citizen+%2Caps%2C221&sr=8-4
RAVITEJA MERUGU
CA Foundation
★ 740
3
513
Financial Derivatives
AFM
answered on 07-Jun-24 20:33
Mr. Rudson, a manager has a portfolio (with beta value 1) of ₹ 50 lacs consisting of 80% in stocks and the rest in cash. He wishes to use index futures to alter his beta. Assuming that the current index is 4,700 and the index futures (lot of 200) is quoted at 4,800. Required: Explain his strategy if he wishes to (i) Increase the portfolio beta to 1.60. (ii) Decrease the portfolio beta to 0.8. If he desired the above beta values, what should he do if he may include G-sec in his portfolio to alter that beta instead of futures? Can anyone give an answer for this part of question ? "If he desired the above beta values, what should he do if he may include G-sec in his portfolio to alter that beta instead of futures?"
latest answer
Pls check p600+ we have a similar question solved in class videos as well as notes
Prasanna kumar Tamilarasu
CMA Final
★ 0
1
354