IND AS 16 - book back question 11

answered on 28-Jan-23 14:54

In the year 20X8-X9, they have transferred additional depreciation of Rs.50,000/- (Rs.25,000/- each for the previous two years) from revalation surplus to retained earnings, before setting-off the surplus while accounting for the 15% downward revaluation (WN 4). Is it mandatory to do that sir? Or can we set-off the whole balance of the revaluation (Rs.1,75.000) against the downward revaluation?

latest answer

Got it now. Thank you ð???

Varshini Pandiarajan

CA Final

★ 30

8

254

Marksheet

answered on 30-Jan-23 20:51

Will ICAI send a physical marksheet if you fail in exams.

latest answer

Did you receive a marksheet when you failed, also did you get exemption in any subject

CYNOPHILE S

CA Inter

★ 925

10

3K+

Sir Genral donasation example

answered on 30-Jan-23 09:38

5 ex

latest answer

Donation without any specific purpose. Like you donate money to a school without telling what is the money to be used for.

R K

ACCA Skill

★ 9K+

1

97

Deduction Under Sec 80C

answered on 29-Jan-23 13:04

Is amount paid for Lab fees and other fees for education of son, to an University in India allowed as deduction u/s 80C ?

latest answer

And also maximum limit of 150000

Sathiyanarayanan P

CA Final

★ 6K+

4

190

Implied contract of indemnity

answered on 28-Jan-23 09:39

Could you give an example for Implied contract of indemnity?

latest answer

***A small change bank is a crs ! And not a surety

Punitha Krishnaraj

CA Inter

★ 5K+

4

193

House property

answered on 28-Jan-23 13:51

Municipal tax paid of 18000 each for the year 2020-21 and 2021-22(Current previous year). Can municipal tax of year 2020-21 will be allowed as deduction in 2020-21.

latest answer

Municipal taxes are allowed as deduction in the year in which they are paid. So, deduction is allowed on payment basis and not on accrual basis.

Hiren Ghadiya

CA Inter

★ 1K+

6

219

formula of Beta of portfolio and return of portfolio

answered on 28-Jan-23 12:29

in the formula for computing portfolio beta and portfolio return, the weight used is the weight of number of shares of that security in total investment or market value of shares in total investment amount? ie simply (number of securities in Y)/ total number of securities in portfolio or (amt of investment in y ltd)/total amt of investment in portfolio

latest answer

Always market value - count of securities is not the weight

nazriya nasar

CA Final

★ 7K+

1

225

Employee cost | Premium bonus method | Rowan scheme

answered on 27-Jan-23 19:47

Hello, It's said that the Rowan scheme considers the efficiency of worker as a parameter while ascertaining bonus. But the part of formula which calculates the ratio of amount saved to be paid to worker (Time taken/time allowed) seems contradictory. For example, when time allowed for a work is 10 hours and he completes the work in 5 hours he is paid 50% of amount saved but when he completes the work in 9 hours(comparatively ineffective) he is paid 90% of amount saved. @moderators kindly clarify. Thanks

latest answer

With all respect, in our course videos Bonus is given as equals to "time saved/time allowed x time SAVED x time rate". Thanks for the clear clarification mam, here this method incentivizes time savings and also decentivizes rushing. Also thanks to you brother.

Aswin Chandar

CA Inter

★ 36K+

4

211

Ind AS 21

answered on 01-Feb-23 17:08

Hello sir, Is investment in subsidiaries a monetary or non monetary item?

latest answer

You will understand more on this in IndAS 109 - Financial Assets. INvestments in shares are fair valued at end of each year with gain /loss recognised in P&L or Other comprehensive income.

Suresh Avinash

CA Final

★ 3K+

5

233

Cyber Security Risk Consideration

answered on 28-Jan-23 21:27

What is meant by the line, "If the application at the company's retailers which contains financial information has weak passwords at all OSI layers resulting in harming the integrity of data"

latest answer

Ok Thanks Sir

Sarthak Aggarwal

CA Inter

★ 9K+

2

219