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INDAS 16 VS INDAS 40
Financial Reporting
answered on 27-May-24 15:40
Here in Example, A ltd business is of renting out building. In such case, the building will be classified as PPE under Indas 16. Am I right? Then why has it been classified under INDAS 40?
latest answer
Thanks for bring to my notice. The example in Ind AS 16 could have been elaborated further. Office spaces was more in the context of office spaces with facilities. The company referred to in the example is WeWork. Will update that part appropriately. When the objective is to earn rentals or capital appreciation only, its IP.
Swathi S
CA Final
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331
Hotel vs Restaurant Example
Financial Reporting
answered on 25-May-24 08:53
In the Hotel vs Restaurant example, If the restaurants are given out on finance lease, then the asset will be derecognised in the books of lessor. Then how will it be classified under INDAS 40 as Investment property?
latest answer
Till it is let out, it will be classified under IP.
Swathi S
CA Final
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1
338
Investment Property
Financial Reporting
answered on 27-May-24 15:58
Case 1: There is a CA Academy. It rents out its building as hostel for the Students who are taking classes in their academy. Whether such building to be covered under INDAS 16 or INDAS 40? Case 2: There is a CA Academy. It rents out its building as hostel generally for all. (not only for its students).Whether such building to be covered under INDAS 16 or INDAS 40?
latest answer
In both cases when we say hostel, there would be additional service like food, laundry, wifi etc. Hence it would be for business purpose of providing services and Ind AS 16. however if it is only letting out of rooms with no additional services - Ind AS 40 - IP.
Swathi S
CA Final
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2
394
Negotiable instruments
Corporate & Other Laws
answered on 29-May-24 09:55
hii can anyone tell me in negotiable instruments dishonour of cheque for insufficient of fund in the account and bouncing of cheque are same or different ?
latest answer
There's no such difference between them.
Vignesh s
CA Inter
★ 3K+
2
382
cost sheet
Costing
answered on 05-Jun-24 09:41
sir in Illustation 3 (COST SHEET)how factory overheads (10000)will come ?
latest answer
Direct labour cost is 175% of works overheads So Factory OH is 10,000
M Tejaswini
CMA Inter
★ 240
1
217
Removal of auditor and rotation of auditor both are similar or different
Auditing
answered on 03-Jun-24 21:46
For this question I soving this Q4a
latest answer
That’s exactly what’s discussed above
R G
CA Final
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4
1K+
Regarding notes of newly added AFM Topics
AFM
answered on 24-May-24 17:36
Hi sir, i have bought the classes in last year, so i got SFM book. In this book we are not having newly added AFM topics. So please provide the PDF from which you are teaching in the lectures. please provide notes for all the newly added topics.
latest answer
You can download from free resources section
B. Dinesh
CA Final
★ 3K+
1
343
Retained earnings
Financial Management
answered on 27-May-24 10:10
Why retained earnings considered as 80%
latest answer
The amount of 1.6 lacs is Equity - Paid up cap + Reserves & surplus
Shivashankar Jawai
CA Inter
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1
354
COLLEGE AND ARTICLESHIP
Others
answered on 24-May-24 19:18
AT PRESENT I'M IN CA INTER AND WILL BE APPEARING FOR MY SEPTEMBER 24 EXAMINATIONS. I WOULD LIKE TO PURSUE M.SC IN INFORMATION SECURITY FROM A PROGRAMME OFFERED BY IGNOU. MY QUERY IS- AM I ALLOWED TO DO ANY MASTERS PROGRAMME OR WILL I BE ABLE TO DO ONLY M.COM. 2. IF I PASS THE EXAMINATIONS IN SEPTEMBER 24 AND JOIN ARTICLES WILL THE FIRM BE CONSIDERATE ENOUGH TO PROVIDE ME TIME TO ATTEND PRACTICALS ONCE IN A MONTH OR WILL IT DEPEND ON FIRM TO FIRM. I KNOW THAT MSC IN INFORMATION SECURITY IS A FAR DEVIATED SUBJECT FROM PURSUING CA BUT I HAVE A INTEREST TO DO THAT ALONG WITH CA AND FEEL THAT IT WILL BOOST MY CAREER.
latest answer
1. You can do any program 2. You need to check with the firm where you join
R Sriram
CA Inter
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1
420
Section 26A - Timeline for application of refund
Indirect Taxation
answered on 29-May-24 12:36
Sir, what is the difference between timeline for 6 months for application of refund of import duty u/s 26A and that of 1yr for application of refund of import duty u/s 27. I think the difference might be since Sec 26A is restricted for certain cases, where as Sec 27 is general. But still not sure on cases for refund of import duty in cases other than those mention in Sec 26A. Can you please clarify on the above?
latest answer
Right.
Priyanka Udeshi
CFA L1
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2
5K+