Forums
Exemption in FM
Exams
answered on 13-Feb-24 14:39
Sir, My friend has completed CA Inter grp 1 long ago. In May-23 attempt in Second Grp he got Adv accounting exemption and in Nov 23 he got exemption in FM but not passed grp Now will he allowed To write only Audit in May 24 or he should also write FM
latest answer
What have you passed earlier?
Surya Prakash
CA Final
★ 19K+
9
515
Branch account
Accountancy
answered on 09-Feb-24 19:02
Does Branch profit is recorded as other income In statement of profit and loss of schedule 3 Or branch account is consolidated with the head office books?
latest answer
No. Not required
Atharv Sankliya
CA Final
★ 3K+
3
346
Marginal cost of Capital
Financial Management
answered on 09-Feb-24 12:55
I am unable to understand part C of illustration 18 in Chapter 4(page 4.37 old syllabus). Kindly assist. Thank you
latest answer
Understood sir. So an additional amount of 2950 over retained earnings(14750-11800) shall be raised as debt in order to maintain optimum structure. I misunderstood that the entire 14750 will be invested from capital thus leading to change from optimum structure. Thanks for clarifying.
Aswin Chandar
CA Final
★ 40K+
5
580
Prospectus and allotment
Corporate & Other Laws
answered on 08-Feb-24 17:21
Minimum subscription Assume minimum subscription stated in prospectus is 6,00,000 Company decided to issue 1,00,000 shares at 120 Face value 100 Application money is 7 80,000 shares are subscribed. Here how to find minimum subscription compliance is met or not
latest answer
Thank you mam✨
Krishnan K
CA Inter
★ 5K+
8
1K+
Capital gains
Direct Taxation
answered on 07-Feb-24 21:49
Sir in above problem indexed cost of acquisition is on 5lakhs but why 8 lakhs in 2nd question
latest answer
Please share the screenshot.
Jyoti Dulli
CA Inter
★ 6K+
1
257
Investment decisions video no. 128 illustration 49
Financial Management
answered on 12-Feb-24 15:34
sir while computing Net ICO, we took S.V of the old machine as Rs.300000(Market value). we can compute Book value at the end of Y2 from the given data (purchase price- Depreciation for 2 years) but why didn't we compute BV and compare SV and BV for the tax Implication( tax on gain or tax saving on loss)? for the computation of Net ICO?
latest answer
Could you please post the question and tag the video
Roobashree Rajagopal
CA Final
★ 1K+
2
405
NCI impairement
Financial Reporting
answered on 17-Feb-24 15:45
While calculating impairement loss of pluto ltd why intially good will is not added to CGU C and then find impairement? In all othercases we first allocate impairment loss out of goodwill..why it is not happening here?
latest answer
I see it is allocated to goodwill. Can you recheck once.
binu mathew
CA Final
★ 0
1
215
Doubt regarding the Illustration
Financial Reporting
answered on 05-Feb-24 12:35
Dear Sir, In case Assumption 2 has the following sentence only (i.e., In question Assumption 2, Management Budget/ Forcastes have clearly stated they have an intention to sell the asset in the near future and replace it. Should we not Impair the Asset since the management has no intention to keep the asset in near future Hence the question of value in use will it not become irrelavent?
latest answer
If we cannot determine value in use, we will need to compute fv less cost to sell. An asset has to be impaired if there are indicators of impairment.
Vanacharla Sai Pavan Kumar
CA Final
★ 8K+
4
377
AOA
Corporate & Other Laws
answered on 05-Feb-24 12:07
if a co. have a branch on foreign co. . do they also have to follow rules in AOA of domestic co.?
latest answer
Ofcourse !
Harshavardini
CA Inter
★ 180
1
421
AS16
Accountancy
answered on 05-Feb-24 11:52
when a qualifying asset is purchased it takes 4 months of time to get ready for its use so when we purchased we incur some cost right now the cost that we incur is charged to respective asset acc. or p&l a/c?
latest answer
Borrowing costs that are directly attributable to the acquisition, construction, or production of a qualifying asset should be capitalized as part of the cost of that asset. So if 4 months is considered to be a substantial period of time (generally less than 12 months is not considered to be substantial), then you can capitalise.
Harshavardini
CA Inter
★ 180
4
723