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Inc of co
Corporate & Other Laws
answered on 01-Jan-24 09:18
Please explain d & e Example would be helpful
latest answer
If any random person claim himself to be a director or an officer of the company entered into contract with an outsider can't be protected on the ground of doctrine of indoor management Any act which is beyond the powers of MOA of the company cannot be protected under this doctrine
Sushmita Chowdhury
CA Inter
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434
Inc of co
Corporate & Other Laws
answered on 02-Jan-24 13:19
How can a Co not have sh cap n earn profit ? Any person can anyway can’t participate on profits even if that’s a Co with sh cap, then why it said person here ? Otherwise than a member mean ? Member can participate in profit ?
latest answer
1. Even without share capital, profit can be earned. Eg, instead of share capital, co. can take loan. Or company could start even with little to no capital if its providing service of some sort. Profit will come with sales 2. Dividend cannot be declared without share capital. But members participating in company operations can get salary, commission, etc
Sushmita Chowdhury
CA Inter
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8
488
Appointment of Stat Auditor
Auditing
answered on 02-Jan-24 20:21
Chapter-9 of Council Guidelines said that if we provide two services for same client and we can accept stat audit of that client only if Fees for Stat Audit is greater than fees for remaing My Doubt is Mr. CA.Y Provide mgmt consultancy services for 40Lakhs and they appointed "me" Stat Auditor for 25Lakhs can i Accept? Video Details Course: Advanced Auditing & Professional Ethics (Without SA) Module: Professional Ethics Section: Chapter IX - Appointment of Stat Auditor
latest answer
Guideline is on a firm providing two services. not on the client taking two services.
Surya Prakash
CA Final
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455
General
Others
answered on 31-Dec-23 20:31
In the answer sheet backside of the first page there was a column of ticking questions I didn't do that will there be any problems please tell me
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Thankyou bro 👍
Divinne Fiona
CA Inter
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454
Query
Financial Reporting
answered on 02-Jan-24 15:57
Sir, In 18th Illustration Shares are fixed (1 Lac) and also consideration also fixed Rs. 2.2 Crs classified into Equity. Why we are going that there is contratual obligation to pay amount so and passing the entry Dr. Equity and Cr FL. Video Details Course: Financial Instruments - FR Module: Financial Assets, Financial Liabilities & Equity Section: Illustrations 16 - 18
latest answer
https://www.ifrs.org/content/dam/ifrs/meetings/2015/october/iasb/fice/ap5a-derivatives-own-equity.pdf If you want more understanding on this. However would suggest not to spend much time on this.
Sai Krishna
CA Final
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2
447
Inc of Co
Corporate & Other Laws
answered on 31-Dec-23 18:40
Proof of serving of the notice means which notice ? Notice to held SR ? Why tht proof is needed for tax dept ?
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Thank you
Sushmita Chowdhury
CA Inter
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3
487
Carrying cost formula
Costing
answered on 01-Jan-24 19:48
Please give the actual formula of carrying cost because sir is using different fomula each sum. In some he uses EOQ and in other he uses average inventory
latest answer
Pls share both questions you are referring to
Gautham
CA Inter
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4
506
Query
Financial Reporting
answered on 02-Jan-24 15:58
Sir. In illustration 9 - If we sold the Asset we have to pay CU 3 commission. On the date of sale FV is CU 100. Entry will be Bank A/c Dr 97 P&L A/c Dr 3 To Financial Asset A/c 100 OR is there any posible can we net Bank A/c Dr 97 to Financial Asset A/c 97 Video Details Course: Financial Instruments - FR Module: Financial Assets, Financial Liabilities & Equity Section: Illustrations 9 & 10
latest answer
Then the balance in FA would be transferred to P&L. So net impact would be same.
Sai Krishna
CA Final
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480
Operating Cycle
Financial Reporting
answered on 31-Dec-23 11:48
Assuming that a company has borrowing repayable after 5 years it greater than operating cycle so it is a non current liability. When this borrowing reaches time period less than operating cycle from the reporting date then I have to classify this a current liability. Am I correct in my understanding. Similarly when a company has fixed deposit for 5 years initially I show it as non current asset. When it reaches time period less than operating cycle I have to show it as current asset. I have slight confusion here should I show it as part of cash and cash equivalent. If yes when I have to show it as cash and cash equivalent
latest answer
Yeah. You need to check the maturity from balance sheet datw
swaminathan sundaram
CA Final
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371
Paper 6 Ca Final
Others
answered on 31-Dec-23 17:35
Sir How many Subjects it will comprises ? All it is case law bases MCQ know and is it kind of open book sir ?
latest answer
It will comprise of all subjects ( including self paced one) and it will be open book exam of 4 hours.
M Naresh
CA Final
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