Forums
Ind AS -2
Financial Reporting
answered on 10-Mar-24 08:37
Hello Sir, have they assumed it as FIFO in this question?
latest answer
We can use either FIFO or weighted average in this question- the answer does not change as Opening Inventory is at 10 (11000/1100) also purchases are made at 10 (100000/10000) . So it does not matter which method we use - we need to value closing and COGS at 10 only.
Suresh Avinash
CA Final
★ 3K+
1
286
SELF PACED ONLINE MODULES
Exams
answered on 09-Mar-24 18:02
Any update on self paced online modules?
latest answer
Not yet. Just set A and B study material hav been released.
Durai Murugan
CA Final
★ 470
1
403
PLEASE HELP ME SOLVE THIS QUESTION
Accountancy
answered on 09-Mar-24 20:53
The Net profit before tax of Mitra Ltd was Rs 100 lakhs and the Income Tax rate was 37%. The company’s preference share capital has the following classes12% Non Cumulative preference share capital 10% Cumulative preference share capital In its accounts, Mitra Ltd. has declared/ paid following dividends on preference capital: On No cumulative preference shares- fully declared for the current year. On cumulative preference shares- for the past three years. Assume dividend distribution tax at 17% and that the company transferred Ra 5 lakhs to general reserve. You are required to calculate the net profit for the period, attributable to equity shareholders.
latest answer
Which video are you referring to?
Angry Toshniwal
CA Final
★ 505
3
605
Impairment
Financial Reporting
answered on 11-Mar-24 10:39
In Illustration 21 (Impairment) it is mentioned that Recoverable amount of Machine A and B =7,60,000 as on 31 March 17 and the recoverable amount of CGU=11,00,000, There is 2,00,000 of Inventory . What about the balance (7,60,000+2,00,000 - 11,00,000= 2,00,000) is that goodwill recoverable amount?
latest answer
Not exactly goodwill but synergic effect. Please note goodwill cannot be sold independently.
Bhoomi Makhecha
CA Final
★ 35
1
304
Final registration
Others
answered on 09-Mar-24 16:21
I tried to register for ca final but wasn't able to proceed with that. My form is showing as inter registration instead of ca final. Kindly guide me. Raised ticket but no response so far.
latest answer
Try registering again
Revathy N
CA Final
★ 9K+
1
319
Business Valuation
AFM
answered on 13-Mar-24 20:54
In this question why net borrowing not calculated and adjusted in CF ....Ideally we should have taken year 1 CF as 56 and since d/e ratio is 1:1 which means in net invt 196, 98 will be eq and 98 is net borrowing? Isn't it?
latest answer
We are finding out value of firm & not equity Value of firm / business = equity + debt FCFF is firm value = EV
Maryam K
CA Final
★ 0
1
300
Sa 501 litigation and claims
Auditing
answered on 10-Mar-24 22:22
Incase of misstatements whether auditor can himself communicate with external legal council or only through the way of management only he will communicate to external legal council
latest answer
any planned procedure is always communicated with management.
Sentoor Kumaran
CA Inter
★ 3K+
2
355
Basic concepts
Direct Taxation
answered on 11-Mar-24 12:23
If the question is silent about the tax scheme ,whether we have to choose 115 BAC or old scheme?
latest answer
If question is silent, we have to do both. But generally they will specify in the question.
1 Minute Review
CA Inter
★ 405
3
359
Doubt
Indirect Taxation
answered on 11-Mar-24 12:23
In general under RCM , the supplier is an unregistered person & recipient is a registered person that's y it's covered under RCM. It's the option of the supplier to get registered. If the supplier is a registered person then it ll not cover under RCM?
latest answer
Even if supplier is registered still RCM would apply for those cases covered under Section 9(3).
Uma j
CA Inter
★ 1K+
1
184
ORIENTATION AND ITT
Others
answered on 09-Mar-24 22:08
should students under new scheme of inter have to do orientation and itt? Can someone confirm
latest answer
Thankyou
Imran chellappah
CA Final
★ 415
5
343