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Professional Skepticism
Auditing
answered on 14-May-24 10:11
In the topic of professional skepticism, If the auditor critically assess the auditor evidence and checks if the documents are geniune, i) Does it take the character of investigation? ii)The fact of checking the genuineness of documents violates the scope of audit? As the scope of audit, does not include investigation and checking genuineness of documents. Do the underlined words in the picture indicate the character of investigation?
latest answer
Thank you so much Mam
Mathangi. S
CA Inter
★ 0
3
396
AS 3 Cashflow Statement
Accountancy
answered on 15-May-24 17:15
For a financial institution, would a Loan taken be Financing activity? Would Interest paid on this also be Financing?
latest answer
Financing.
Vishnu Muraleedharan
CA Final
★ 32K+
2
310
Some time I feel when I watching exam. Past year question papers Q 1 are difficult
Corporate & Other Laws
answered on 14-May-24 11:40
So I can I start Q2 in exam mixing of sub -questions are allowed or not allowed in assending order Some say paper will check in assending order some say if u attempt in ex Q2 a bcd are sub questions I attempted cdbc wise is it any deduction mark not going order wise
latest answer
No one will deduct marks if you attempt questions in a haphazard manner, but it leaves a bad impression in evaluators mind and could affect overall evaluation process
R G
CA Inter
★ 9K+
1
299
Wrongly attempted question
Accountancy
answered on 15-May-24 17:16
Sir... I had wrongly attempted all question by mistake i had reasonable assurance that last question was right is there any chance for marking those question if iam at the stage of having a little mark for passing....... Please reply
latest answer
No problem. You will get marks for best 4 questions.
Visruth Vichu
CA Inter
★ 890
1
293
Narrative record
Auditing
answered on 14-May-24 09:51
Who prepare narrative record?could you please tell me
latest answer
Management will have a description of their internal controls. Basically in word formats or other suitable documents. This is part of their internal documentation. Auditor reviews them in details, and makes working papers for himself too.
Visruth Vichu
CA Inter
★ 890
1
317
consolidated financial statement
Financial Reporting
answered on 20-May-24 14:59
Video No 13 Dividend declaration. Interim dividend shareholder approval required?? I am not clear
latest answer
Board approval required. In some cases articles may required shareholders approval as well.
swaminathan sundaram
CA Final
★ 110
1
343
Consolidated Financial Statement
Financial Reporting
answered on 20-May-24 15:02
Video No 12 Example 5 and 6 In this example Machine is sold to subsidiary at a profit of Rs 500 It is explained as 80% to parent and 20% to subsidiary we have to divide. 20% portion is NCI Portion so I have to credit NCI. Am I correct. Video time 9 minutes 21 seconds there this is explained
latest answer
Yes.
swaminathan sundaram
CA Final
★ 110
1
332
Professional Tax
Direct Taxation
answered on 20-May-24 18:10
As we discussed in Section 16(iii), the professional tax paid by the employer is first added to the income from salaries and then deducted under deductions under Section 16. That is, in this question, 1500 is professional tax and 1000 is paid by the employer, so at first we need to add only 1000 while computing gross salary and deduct 1500 under Section 16. Please clarify.
latest answer
Yes right.
SHAMIL SHAMSUDDHEEN
CA Inter
★ 4K+
1
208
Balance of provision for doubtful debt
Accountancy
answered on 15-May-24 17:21
What balance does provision for doubtful debt have-debit/credit?what is the reason?
latest answer
The entry is Bad debt To Provision for bad debt Bad debt is expense Provision is balance sheet item.
Daksha Selvakumar
CA Foundation
★ 1K+
3
271
Self Paced Online Module
Exams
answered on 12-May-24 21:01
Sir, when will the exams be conducted for set A and B. How frequently will they be conducted.. Can we prepare for each, one after the other or both simultaneously? When can we expect the announcement sir?
latest answer
After exams, there will be notification
Varshini Pandiarajan
CA Final
★ 30
1
356