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Question 8
Financial Reporting
answered 1 day ago
Sir, for lease payment we will add the variable payments also right. Here it is showing that it will be transferred to a statement of profit and loss account.
latest answer
Okay sir. Thank you.
K Vamshi
CA Final
★ 7K+
2
15
Applicability of Statement of Changes in Equity
Financial Reporting
answered 2 days ago
Sir, as per Section 2 (40) of the Companies Act, 2013, financial statements includes a statement of changes in equity, if applicable. Is there any instances where the statement of changes in equity is not applicable?
latest answer
If entity doesn’t follow Ind AS. Like Accounting Standards
Gokul
CA Final
★ 0
1
14
PPE OR INVENTORY
Financial Reporting
answered on 19-May-25 09:17
For ex Indigo learn has brought computers while buying there is no intention to sell but after buying we have sold and doing this kind of trans often so does it comes under inventory or PPE . Intention to be seen at the time of purchase ?
latest answer
When we sell after use, its not in ordinary course of business. So not an inventory.
Sowmitha C
CA Final
★ 2K+
1
10
Accounting treatments if Co writes call options.
Financial Reporting
answered on 21-May-25 01:02
Sir, What should we do if the company writes the call option and the holder exercises the right ? In this video don't talk about this.
latest answer
Sir, Please confirm my understanding is correct with respect to call written option.(Refer attachment)
Balaji R
CA Final
★ 20K+
2
35
Derivative
Financial Reporting
answered on 19-May-25 10:22
Sir here in the screenshot it is mentioned that can be settled net, that contract cant be settled on net basis this exception can't be used right
latest answer
If a contract on non financial item cannot be settled net, it will not be a part of financial instruments.
R Yashwanth Kumar
CA Final
★ 86K+
1
15
FINANCIAL GUARANTEE
Financial Reporting
answered on 19-May-25 11:11
Sir based on the expected loss do we need to update the amortization table, In 4th year opening balance she have been 1,25,000
latest answer
The amoritsation computation does not change. The balance of liability would change due to valuation at the end of year 3.
R Yashwanth Kumar
CA Final
★ 86K+
1
16
Illustration 19: Comprehensive Illustration on Revaluation
Financial Reporting
answered on 19-May-25 11:34
Sir while computing the obligation of Decommissioning as on 31-03-20X5, there is a reduction in PV of decommissioning which is Rs.5000/- hence due to the entry Decommissioning Liability A/c Dr . To Revaluation Surplus A/c , the amount of Rs.5000 is reduced . Then the revised carrying amount of Rs.7180 is added back to the cost of PPE. Then the revalued amount comes to Rs. 1,14,180. My question is since the 5000 got reduced from decommissioning Liability,it ultimately reduced the carrying amount of PPE as similar to cost model.. Can you please explain this part {cost vs Revaluation}
latest answer
1. The decommissioning liability is adjusted from the revalued amount and not cost based amount. 2. In cases where there is no revaluation surplus, the changes in decommissioning liability would be transferred to P&L. This is not the case with cost model.
Harini Desu
CA Final
★ 80
1
21
Illustration 17: Impact of Revision in Useful Life
Financial Reporting
answered on 19-May-25 11:39
Sir while following the Gross approach, the difference between ORIGINAL DEPRECIATION and REVISED DEPRECIATION will that be transferred to Retained earnings as net income approach?
latest answer
It depends on the accounting policy elected by the entity.
Harini Desu
CA Final
★ 80
1
24
Guarantee accounting
Financial Reporting
answered on 19-May-25 11:39
Sir for last year the opening balance she have been 30,000 right
latest answer
IN the amortisation table, the balance will be as per original. for ledger balance calculation purpose, it would be 30,000.
R Yashwanth Kumar
CA Final
★ 86K+
1
21
FINANCIAL INSTRUMENTS
Financial Reporting
answered on 19-May-25 11:40
Sir can we pass journal entries like i have attached in screenshot will any marks deducted if presented like this
latest answer
Yes you can pass. But generally the book does not have sufficient space.
R Yashwanth Kumar
CA Final
★ 86K+
2
38
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