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Financial Reporting
asked 4 hrs ago
Hi Sir, In this problem, Please confirm if my understanding is correct If forward contract was entered, then we would incur a loss of Rs 5 per USD If forward contract not entered (as in question), we will have a profit of Rs 5 per USD. But in either case, the value of Sales/ Revenue will be at 55 only. (Agreed Forward Rate / Forward Rate) Please correct me if I am wrong.
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Susee Arunachalam
CA Final
★ 26K+
0
8
Ind AS102 share based payment
Financial Reporting
asked 12 hrs ago
Video No 26 Illustration 16 Anara Fertilisers issued 2000 share options. In this question first year employee share based payment expense is 693333 second year it is 1646667 total amount credited to SPB equity at the end of second year is 2340000 (693333+1646667). At the time of cancellation Rs 1620000 is debited to SPB (Equity Reserve). The balance amount in SPB (Equity Reserve) 720000 (2340000 - 1620000). How this balance amount is closed
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swaminathan sundaram
CA Final
★ 110
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10
Bearer Plant
Financial Reporting
asked 1 day ago
Case 1: Company X is a casting entity. There are some coconut trees in its premises. Whether it should be treated as bearer plants under INDAS 16 and capitalize it in the books? Case 2: Company X is a casting entity. It owns a coconut grove. Whether it should be treated as bearer plants under INDAS 16 and capitalize it in the books ?
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Swathi S
CA Final
★ 0
0
28
Holding - subsidiary applicability criteria
Financial Reporting
asked 1 day ago
Company Y voluntarily adopts INDAS. Company X is a subsidiary of company Y . Whether it is mandatory for Company X to adopt INDAS , being a subsidiary of company Y ?
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Swathi S
CA Final
★ 0
0
14
Applicability of INDAS to NBFC
Financial Reporting
asked 1 day ago
Company X (corporate entity) covered under Phase I of Roadmap. Thus, INDAS is mandatorily applicable from 1st April 2016. Company Y (NBFC) is a subsidiary of Company X. For NBFC Applicability starts from financial 2018-2019. For the FY 2018-19, whether INDAS is mandatory for company Y, being a subsidiary of Company X (or) INDAS mandatory only if the respective NBFC satisfies the networth criteria?
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Swathi S
CA Final
★ 0
0
13
Treatment of Interest portion of decommissioning liability
Financial Reporting
asked 1 day ago
Whether Interest portion of decommissioning liability will be accounted in books? If so, how will be accounted ?
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Swathi S
CA Final
★ 0
0
11
Ind AS 102 Share based payment
Financial Reporting
asked 1 day ago
Video No 20 Illustration No 9 Ankita Holding Inc grants 100 shares to each of its 500 employees. (Non market condition). In this problem we do not reverse the entry at the end of first and second year for not satisfying the company earning. Video No 21 Illustration 11 ACC Limited granted 10,000 share options to one of its managers. In this problem we reverse the entry at the end of second year. I am trying to understand the difference between these two problems. Request your help please
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swaminathan sundaram
CA Final
★ 110
0
17
IND AS 33
Financial Reporting
asked 1 day ago
What was the correct answer?
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Divya Sri Vemavarapu
CA Final
★ 15K+
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21
Ind as 116
Financial Reporting
asked 2 days ago
Sir in lessor accounting while calculating interest rate implicit in lease. shall we consider Only residual guaranteed by lessee or include guaranteed by third party too
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Ravi Teja
CA Final
★ 20
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15
Cash alternative where entity has a choice
Financial Reporting
asked 2 days ago
Sir, Doubt 1 ) if cash option is cheaper at balance sheet date and entity provided for equity option. Do we need to provide the loss at every balance sheet date or we should only at settlement date. Doubt 2 ) in 16:29, You have accounted as SPB reserve A/c Dr 1350 , Bank 1350 for settling in cash where initially we accounted as equity. why we did not assume it as buy back and account it like . Share Based Payment reserve dr 1450 ( fair value on settlement ) to Bank cr 1350 ( cash we paid , i.e fair value of option ) to p and l cr 100 ( diff between cash and equity ) If we initially record at equity and later we change our mind by issuing cash settlement we need to assume it as Buyback and account accordingly.
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M V Naresh
CA Final
★ 3K+
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17
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