Forums
Income
Accountancy
answered on 22-Feb-24 14:13
Here it is showing that the economic benifits in the form of decrease in liability so my question is how can it be possible that if we pay off our liability then the liability will automatically decrease but that are the obligation which we have to pay How can we consider it as Income Can anyone explain it to me
latest answer
Decrease in liability and increase in equity
Snehashis Mohanty
CA Inter
★ 35
1
332
Audit report
Auditing
answered on 22-Feb-24 20:31
Will auditor's opinion is modified in respect to Key Audit Matters?.
latest answer
Meaning of KAM section is when auditor believes in providing additional understanding to the users. No separate opinion on these matters. opinion will be only one. Read about SA 701, what KAM does not substitute, you will get more clarify
Kurva Mahender
CA Foundation
★ 5K+
2
345
Exam
Exams
answered on 22-Feb-24 13:39
Is it necessary for the Principal to give approval for the exam form ?
latest answer
For direct entry that criteria is removed
Evangeline Rebecca D
CA Final
★ 2K+
4
426
Residential status
Direct Taxation
answered on 23-Feb-24 13:10
Conditions for NOR:- If any one satisfied he became RNOR and how sir if both satisfied he became ROR.If both not satisfied only he became ROR,I didn't get the clarity in this sir
latest answer
In case of additional conditions, if both the additional conditions are satisfied then only the Individual would be ROR. If any one or none of the additional conditions are satisfied then the Individual would be regarded as RNOR. Trust this clarifies !
Neha G
CA Inter
★ 190
1
201
Residential status
Direct Taxation
answered on 23-Feb-24 13:14
Sir, condition for RNOR, in material they given as he should be a resident for 1 year,but you are telling he should be resident for 2 years? Give me a clarification to this sir.
latest answer
In ICAI material they have used reversed language as non resident. We have used positive language. Meaning is same. Please read again.
Neha G
CA Inter
★ 190
1
276
PRII VS PROI
Corporate & Other Laws
answered on 25-Feb-24 18:10
Is that Ravi has 2 residential status for a FY or be treated as “PROI”?
latest answer
No, he will be considered as a PROI, in the example just for the purpose of making it easier to understand it residential status was split.
Soon to be CA
CA Inter
★ 4K+
2
212
Application
Others
answered on 22-Feb-24 20:29
When is the last date for CMA FOUNDATION Exam form application
latest answer
Thank you sir
Vijaya Lakshmi Pojula
CA Foundation
★ 2K+
2
294
Amalgamation of company - Illustration 15
Accountancy
answered on 13-Mar-24 14:37
I had one doubt sir, why you were not taken 10% debenture and loan from A for calculating Purchase consideration. It should be in Building 306000 Inventory 576000 Tr. Receivable 234000 Inventory 198000 Goodwill 216000 Bank 0 Less: Tr. payable (320000) 10%Deb (400000) Loan from A (160000) Net asset 650000 Therefore, B ltd will settle the payment by using cash and Equity share Cash = 600000 -Net asset = 650000 Equity share value = Rs.50000 Issue Price = Rs.125 Equity share =400 shares Amount(125*400) =Rs. 50000 If it is wrong please answer me why we were not taken the same. Thank you, sir
latest answer
The questions mentions only trade payables taken over at book value. Hence other liabilities are not considered.
Nishanth SK
CA Inter
★ 440
1
315
Eps
Financial Reporting
answered on 22-Feb-24 17:41
Icai mca As per mine answer would 1.90 sir I attach my working How can it be 1.74 sir
latest answer
many ICAI answers are incorrect.
Ravi Teja
CA Final
★ 20
2
359
May2024 exam registration
Exams
answered on 22-Feb-24 18:56
Sir as I completed grp1 inter in nov23 , I have two papers in grp2 for exams in may24. While registering for exam, I have option shows exam applied.... Which option do I need to choose?? Appear for grp 2 or unit2d -paper5 and6 Please do reply
latest answer
The students should have completed Advanced ICITSS on or before 10th April, 2024 for being eligible to appear in MAY 2024 examinations. Candidates who have not yet passed the AICITSS – IT Test are advised to visit https://resource.cdn.icai.org/77205exam62133.pdf dated 20th November 2023 to know the schedule of AICITSS – IT Test and clear the test to be eligible for Final MAY 2024 exams.
Seema Viswanathan
CA Final
★ 1K+
5
444