Forums
AS 16
Accountancy
answered on 07-Mar-24 12:08
Hi Sir, Foriegn exchange part is quiet complicated. The initial dates rate of forex or ind value can be compared with the last date forex and ind value respectively . 1)Why should they compare last dates forex value with initial dates ind value? 2)Does it give any idea of how much the company could have saved ? 3)On what idea basis this AS has been formulated? 4)How to know full details of this standard like the way the standards have been formulated? 5)Where to study them for time being please clarify me the doubt on how to understand such sums? “Requesting to answer all the questions s.no wise”
latest answer
Okay Thank You Sir
Cucuberry
CA Inter
★ 0
2
255
I'll 20 part 3
AFM
answered on 06-Mar-24 20:26
sir perfectly dependent overtime all years is worst right ? And independent overtime it's may in 2nd year best anything is possible then y we took .3 only y can't we take .3 *.5*.2 like mix of these values in worst case
latest answer
perfectly dependent means if first year is worse all 3 years are worse
HEMAVATHYSUBRAMANI SUBRAMANI
CA Final
★ 3K+
3
295
As 27
Accountancy
answered on 07-Mar-24 08:31
Is my understanding correct sir??
latest answer
Thank you sir
Krishnan K
CA Inter
★ 5K+
3
322
Meaning of remote in as29
Accountancy
answered on 05-Mar-24 20:46
Embodying economic benefits is remote
latest answer
Ok sir thank you
MONIKAA RAMESHKUMAR
CA Inter
★ 710
4
532
Derivative valuation -Futures
AFM
answered on 06-Mar-24 10:02
For calculating Theoretical Minimum price which method should be used sir 1) Spot price + Carrying cost - Dividend Or 2) Discounting the Forward Price through epsilon..
latest answer
Need not do so much activity . if e is not given ignore that method
M Naresh
CA Final
★ 3K+
6
314
Calculation of indirect percentage of holding
Accountancy
answered on 07-Mar-24 08:27
If P holds 60% of Q AND Q holds 20% of T , Shouldn't it be calculated that P holds 12%(60% of 20%) of T?
latest answer
For control purpose, it will be considered 20% because P controls Q and can directly decide on 20% of T
Nayana Kowshik
CA Inter
★ 120
1
319
Prospectus
Corporate & Other Laws
answered on 07-Mar-24 19:56
Can anyone explain the below mentioned topic it's from deemed prospectus
latest answer
please highlight the exact point you want to understand
Nithyashree Shivaram
CA Inter
★ 20K+
1
322
Valuation - Assessable value
Indirect Taxation
answered on 11-Mar-24 14:56
Hello Sir, Why do we not include the demurrage charges in this question in calculation of FOB for the purpose of Freight and Insurance?
latest answer
Thank you so much sir
Susee Arunachalam
Qualified CA
★ 26K+
4
620
FIFO
Accountancy
answered on 07-Mar-24 08:27
Malcon Limited, a manufacturing concern has the following information in respect of material ABC.Re-order period 1 – 2 weeksMaximum consumption 900 units per weekNormal consumption 600 units per weekMinimum consumption 300 units per weekAnnual consumption 31,200 unitsPurchase price GHS4.00 per unitCost of storage 10% of purchase priceCost of order GHS60.00 per orderRequired;Calculate the reorder quantity, reorder level, maximum inventory level and minimum inventory level of material ABC.
latest answer
whats your doubt in this?
James Aduko Apolala
CMA Inter
★ 0
1
300
solve this in elaborate form
Direct Taxation
answered on 07-Mar-24 15:10
Mr. Shaan, a resident aged 42 years, is employed in an MNC in Gurugram since 2014. He submitted his resignation on 31st July, 2023 for starting his own business and gave a notice period of one month to the employer. He received the following emoluments from his employer for the period from 1st April, 2023 to 31st August, 2023: Basic pay Rs 45,000 p.m Dearness Allowance (Forming part of retirement benefits) 10% of Basic pay Medical allowance Rs 5,000 p.m. Entertainment allowance Rs 2,500 p.m Commission Rs 10,000 p.m Employee’s contribution to RPF Rs 7,500 p.m Employer’s contributed the same amount to the RPF Interest accrued in the RPF@13% Rs 14,300 In October, 2023, he started the business of manufacturing of footwear under the brand name “COMFORT”. He withdrew the entire amount from his RPF account in September, 2023 to invest in his business. He has employed 75 regular employees on 1.11.2023 at a salary of Rs 23,000 p.m. and they participate in recognized provident fund. For the P.Y. 2023-24, the profits and gains derived from such business is Rs 51 lakhs (computed) and the turnover is Rs 7 crores. Mr. Shaan received 12% of the sales in cash. On 1st December, 2023, he has purchased a house property for Rs 90 lakhs for self-occupation by taking a loan of Rs 45 lakhs@10% p.a. on the same day. He has paid stamp duty ofRs 6,25,000 on purchase of such house property. Mr. Shaan does not want to opt for the provisions of section 115BAC. A. What is the total income of Mr. Shaan for A.Y. 2024-25? B. 4. Compute the tax liability of Mr. Shaan for A.Y. 2024-25 C. Compute the tax liability of Mr. Shaan for A.Y. 2024-25 if he opts for the provisions ofsection 115BAC. Assume that the figure of profits and gains from business or professionremains the same under section 115BAC also.
latest answer
Apply all the deductions provisions and solve. After you solve, share the image of the same. We would respond on the accuracy of the answer.
Angry Toshniwal
CA Final
★ 505
1
618