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Ill 3
Financial Reporting
answered on 03-Jun-24 17:01
For Ill 3, the same loss of 3000 (2000 fees + 1000 transportation) is recognised twice in the P/L (6000) wouldn't that be like accounting for the same expense twice?
latest answer
One is paid at time of purchase hence recognise as expense. Second would be paid when sold. So while determining FV less cost to sell we deudct.
Dhvaritha Ravishankar
CA Final
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1
169
This is the land where the question of depreciation
Financial Reporting
answered on 03-Jun-24 17:06
Sir,Kindly clarify valuation part in slide
latest answer
in proportion of depreciation of plant (not land)
Ramamoorthy Kaliyaperumal
CA Inter
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1
169
Illustration 6
Financial Reporting
answered on 03-Jun-24 17:09
When can a promotor's contribution by government be treated as Govt Grant?
latest answer
It will be treated as a government grant. However, You cannot credit it to Capital reserve / Equity. [AS-12 required it to be credited to capital reserve] You need to show it under deferred grant account and transfer it to P&L.
Swathi S
CA Final
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199
Illustration 6
Financial Reporting
answered on 03-Jun-24 17:10
In this illustration, whether it has been assumed that the contribution are in the nature of Government Grant
latest answer
It is given in the question.
Swathi S
CA Final
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239
Illustration 5
Financial Reporting
answered on 03-Jun-24 17:17
Exemptions of custom duty on capital goods are treated as Government Grants. Then, Duty Drawback and RODTEP should also be treated as Government Grants? Whether Exempted GST also to be shown as Government Grants ? g
latest answer
Exempted GST, Dutydrawbacks, RoDTEP are Government Grants.
Swathi S
CA Final
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1
171
excel
Others
answered on 29-May-24 09:35
for sum formula , you told that alt = is the easiest way to sum the cells but my apple laptop doesnt have alt funtion . any other way to do it ?
latest answer
No 😓 MacBooks are not MS office friendly. Another option is buy Parallel desktop software about ₹5,000
Vartika Ramnani
CA Inter
★ 0
1
306
excel course
Others
answered on 03-Jun-24 17:24
how to use F2 key in mac book ie., to bring cursor to a cell for editing the context of the cell without mouse? if i am pressing f2 key it is only increasing the brightness of the screen
latest answer
1
Vartika Ramnani
CA Inter
★ 0
2
196
REBATE U/S 87A
Direct Taxation
answered on 29-May-24 12:28
Does the total income mentioned in the section includes only income calculated in normal rates or does it also includes income that are taxable in special rates?
latest answer
Entire total income.
Santhosh Srinivasan
CA Inter
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211
House loan
Others
answered on 28-May-24 15:13
Sir if interest rate is increased why would they increase tenure sir? Also increase in emi means tenure would be same I didn’t get to know how this math works? Also how to calculate emi in excel
latest answer
Okay.
Sugam SM
CA Final
★ 9K+
3
382
Clarification
AFM
answered on 29-May-24 09:43
Hi Sir, Based on the previous problem i.e. INR ZAR i formed a formula to calculate the cross rates. The formula is : For Bid Price: Selling price of the quote currency / Buying price of Base currency and for Ask Price : Buying price of Quote currency / Selling price of Base currency. Explanation of the formula : The Bid price of INR ZAR means Bank will buy INR and sell ZAR. The rate should be per unit of INR, Buying rate of INR should be in denominator and Selling rate of ZAR should be on numerator. so the formula will be Selling rate of Quote Currency/ Buying rate of Base currency. Eg : USD INR - 75.3510, 75.4779 & USD ZAR - 15.7760 & 15.7890. Selling rate of Quote currency in INR ZAR means, Selling rate of ZAR i.e.15.7760(buying rate of USD ZAR means buying of USD and selling of ZAR so selling rate oof ZAR is 15.7760), and buying rate of base currency in INR ZAR is Buying rate of INR i.e. 75.4779( USD INR ask rate means selling USD and buying INR, so INR Buying rate is 75.4779). So the bid rate of INR ZAR = 15.7760/75.4779 = 0.2090. I have applied this formula to some live data as well. it holds good in every case, but in this example i.e. EUR GBP the answer is not coming. Can you please explain what is wrong in the formula sir ? Attaching some of the live data illustrations excel sheet using the formula for your reference. please let me know what is wrong in my logic.
latest answer
Pls find attached the solution
B. Dinesh
CA Final
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433