Forums
Inventory
Financial Reporting
answered on 15-Dec-25 17:21
Sir, Can you explain the logic of inventory? 1. On 1st Apr its valued at 10,00,000 2. Inventory Costing 8,00,000 sold between apr to jun. (Remaining inventory at cost as per my understanding 2,00,000) 3. But on 30th june valud at cost of 9,00,000 4. Is it to understand that there has been any purchases? 5. If purchased how to classify as Discontinued operations? [Video Time Stamp: 04:32]
latest answer
Understood Sir
Selvakumar R
CA Final
★ 165
2
110
Sea bed restoration
Financial Reporting
answered on 15-Dec-25 16:56
Sir, but there is no present obligation..It is a future obligation.Why are we still recognising provision for it ? [Video Time Stamp: 05:03]
latest answer
Payment will happen in future. We carry the obligation the at present. Also the obligation is related to the life of asset. Hence its capitalised and depreciated.
SANSKRITI BADRI 2111339
CA Final
★ 4K+
2
121
Carrying Amount if not impaired
Financial Reporting
answered on 22-Dec-25 15:30
Sir for reversal of loss the carrying amount if not impaired is not considered. Is it due to the non availability of information regarding depreciation method? [Video Time Stamp: 06:06]
latest answer
Yes
Selvakumar R
CA Final
★ 165
3
101
Master Budget
Costing
answered on 16-Dec-25 15:24
Sir in this question, the budget we prepared is very similar to cost sheet?. Infact we just broke down the cost sheet and shown in two different tables?
latest answer
Yes, it looks similar to a cost sheet because both show cost break-up. However, a master budget is a future planning tool prepared by combining different functional budgets, whereas a cost sheet is used to ascertain or analyse costs.
Vinod Kumar
CA Inter
★ 11K+
1
102
Nov 2020 question
Indirect Taxation
answered on 19-Dec-25 19:36
In this question, the highlighted part, i did not understood there solution, i understand that we shall take itc of 95000 but what is this extra 5000 about, i am not able to recollect the provisions in such regards
latest answer
It is old provision. There is nothing as such now. Maximum ITC that can be claimed is only what reflects in GSTR 3B.
Hrishikesh Pradhan
CA Final
★ 18K+
1
92
Can anyone explain the second journal entry
Financial Reporting
answered on 22-Dec-25 15:35
Can anyone explain the second journal entry
latest answer
The question is solved as per AS 26 which presumes 10 year useful life Cost - 80 Amortisation per year 8. Amortisation for 2 years - 16 Already charged - 5 So balance 11 lacs is charged in Year 3. However this is incorrect as per Ind AS 38.
Nihal K
CA Final
★ 440
1
113
Consolidated Financial Statement
Accountancy
answered on 18-Dec-25 16:47
Suppose A Ltd holds 38% shares in B Ltd and B Ltd holds 25% shares in A Ltd . whole should prepare CFS ? A Ltd or Both
latest answer
Can you elaborate?
Rupa Prasad
CA Final
★ 0
4
186
Sales budget format
Costing
answered on 16-Dec-25 15:25
Sir, I made ultra pro max sales budget in a hurry. This format isn't acceptable right? [Video Time Stamp: 05:22]
latest answer
works. till the time all informatino required is available.
Vinod Kumar
CA Inter
★ 11K+
1
100
Mcq chapter 5
Auditing
answered on 20-Dec-25 20:43
The answe to Mcq 2 and 4 given as d (gor both) I am not able to get the logic
latest answer
Let me know If u need more clarification
Gauri Shete
CA Final
★ 5K+
2
124
Motor Car
Direct Taxation
answered on 13-Dec-25 10:59
Sir in this question, Car is owned and maintained by employer, so it is taxable if employee is specified employee, so Mr.Balaji is a specified employee?
latest answer
Yes he is specified employee since salary is more than 50K per annum.
Priya Ravi
CA Inter
★ 55K+
1
110