Forums
FRF
Auditing
answered on 08-Apr-24 12:20
Fair presentation vs compliance framework
latest answer
Refer SA 700 . There are two types of framework, based on presentation n disclosure. Strictly to be adhered is compliance framework. Like BANKS financial statements. Where management is allowed to add or depart from requirements is Fair presentation. Like sch III of companies act. Details u wil get further .
GOKUL KOLATE
CA Inter
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1
533
Modified opinion means in brief
Auditing
answered on 08-Apr-24 12:17
Modified opinion means in brief And what un modified ?
latest answer
These all terms will be clear as you progress with the subject further . Unmodified: is a good report. Clean report, Which means financial statements give true and fair view Modified- means which statements are not giving true and fair view. We have 3 different modified option which u will learn as a part of SA 705
GOKUL KOLATE
CA Inter
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1
459
TDS on RPF u/s 193 and tax treatment
Direct Taxation
answered on 13-Apr-24 03:33
Scenario: An Assesee worked for more than 5 years in one company and left the company and after a gap of 1 year joined another company and worked for 2 years in the next company and left the second company as well. Q1: will the TDS u/s 193 apply as he has continuous service of 5 years in the first company Q2: In case, TDS is applicable, is it only for the second company EPF amount where his service was less than 2 years please give clarity on this situation
latest answer
TDS is only in second case if there is different PF account number
John Selvaraj
CA Inter
★ 140
1
623
Compound Financial instrument
Financial Reporting
answered on 26-Mar-25 10:12
Sir, During the conversion to equity from bond at year end 4 why we have touched the equity component ( Debited the equity ) . The equity recognized at beginning will remain unchanged know.?
latest answer
Yes. If it is redemption, the amount credited to equity remains intact as it is.
M Naresh
CA Final
★ 3K+
5
448
Illustration 35 Indigo Learn Material Interpretation
Financial Reporting
answered on 08-Apr-24 17:26
In class you have taken 5,00,000 amount as liability where they have specified 5,00,000 5% convertible debentures shouldn't we multiply with Face value 10 Rs ?
latest answer
Yes you are right.
M Naresh
CA Final
★ 3K+
1
325
Network Firms - Professional Ethics
Auditing
answered on 08-Apr-24 11:04
Mam, Classes relating to concept of Network firm not yet uploaded.
latest answer
Yes it will be uploaded.
Sathiyanarayanan P
CA Final
★ 7K+
1
212
Ill 42
Financial Reporting
answered on 09-Apr-24 17:31
In the last Illustration explained, payment is based on the transaction price agreed upon as per the contract. So we can assume that the agreement would obviously be at a markup price and accordingly, the installments received would also reflect that markup. Plus, since the entity can get paid for work completed we can also assume third criteria is partly fulfilled and revenue is receivable to the extent of work performed.
latest answer
In many cases consideration may not be receivable till the contract is completed fully. So we can assume either ways.
Dhvaritha Ravishankar
CA Final
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1
221
CLARIFICATION REGARDING STUDY MATERIAL
Auditing
answered on 08-Apr-24 09:38
IN MY SUBSCRIPTION PACK I WILL NOT GET PHYSICAL STUDY MATERIAL OF INDIGO LEARN........BUT AT THE TIME OF BUY IT WAS SAID THAT E-STUDY MATERIAL WILL BE AVAILABLE..............SO MY DOUBT IS THAT FROM WHERE I CAN GET THOSE E-NOTES...........
latest answer
Resources section
AYYAPPADAS K
CA Final
★ 0
2
287
Portfolio management Illustration 30
AFM
answered on 08-Apr-24 08:59
Will there be any problem in valuation during the exam if we write the way you present the answer and in our icai material you said that there is variation in calculation of standard deviation they calculated on price and you calculated on return? From exam perspective i am asking sir because icai answerkey will be prepared based on icai material ? Kindly reply sir regarding presentation of answer
latest answer
Their question will specifiy how they wish that u compute the SD. Follow that
iyshwarya Suresh
CA Final
★ 12K+
1
218
Cost sheet
Costing
answered on 08-Apr-24 09:33
How to treat purchase return in cost sheet with reason ??
latest answer
Deduct it from cost of purchases
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SRIHARI K U [XI-D]
CA Inter
★ 4K+
1
450