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topic in icai material
Auditing
answered on 26-Jul-25 15:43
mam i am unable to trace sa 200, 210,etc.. in icai material. can u help me with it mam? also in indigolearn material the first chapter contains only sa200 notes(just bringing this to your notice sir/mam).
latest answer
Hi. SA 210 will be in last chapter. Ethics and acceptance . N yes only SA 200 is in the first chapter. The entire course is in line with icai material
Poojasree Shakthiraam
CA Inter
★ 25
1
138
Cash Credit
Financial Management
answered on 25-Jul-25 14:32
Sir, in Overdraft the excess balance in current account is charged interest on daily basis . But in case of cash Credits the excess balance in Accounts there will be no interest while actually availed by him charged against interest. Sir, whether my understanding is correct
latest answer
Od and cc
21SCO08 mahalakshmi
CA Inter
★ 1K+
1
107
Advance against goods
Financial Management
answered on 25-Jul-25 13:29
Sir, whether advance against goods is similar to normal pledge or hypothecation on banks or the mentioned those goods only have to be pledge like agriculture commodities,etc Can you explain bills purchases /discounted another time
latest answer
Yes adv against goods similar to pledge. Bills purchased is against basically sales invoices which are accepted by buyer when we are seller. These bills are discounted with banks by seller for immediate cash
21SCO08 mahalakshmi
CA Inter
★ 1K+
1
108
Clear overdraft
Financial Management
answered on 25-Jul-25 13:28
Sir, there is any requirements of Guarantee from other person who are credit worthy before granting the clean Overdraft facility
latest answer
Sometimes yes. Depends on borrower their credit worthiness, their size, bank , industry, amount - a lot of factors
21SCO08 mahalakshmi
CA Inter
★ 1K+
1
98
Inventory
Financial Reporting
answered on 25-Jul-25 11:46
Sir, how come inventory costing 8L are sold and still the closing inventory on 30th june is 9L, when the opening inventory is only 10L. Does that mean any operations are continuing during that period [Video Time Stamp: 04:32]
latest answer
Till the time the operation is disposed off, the entity can continue to run operations or in some cases may be required to run operations under contractual obligation. So inventory changes are possible.
Hariharan Ravichandran
CA Final
★ 2K+
1
129
APT Formula
AFM
answered on 25-Jul-25 08:51
P600 illustration 84. The formula used in this answer is AV1-EV1 for surprise factor But in the book they gave us EV1-AV1 Which one should follow? Why is there a difference?
latest answer
Apt
Balaji R
CA Final
★ 20K+
1
141
Reversal of Impairment
Financial Reporting
answered on 25-Jul-25 11:50
Sir, if the FV-CTS increases upto Rs.1900 in the next period, can the whole Rs.1900 can be reversed (Because it includes Rs.1500 related to Goodwill). If Yes, will the reversed amount be used to increase the carrying of PPE and building only or for all other remaining assets (since the other assets are already measured at their realisable value) [Video Time Stamp: 05:12]
latest answer
1. We can reverse impairment losses only to the extent of impairment losses on PPE & Building in this case. Since there was no impairment allocated to other assets, there is no reversal. Reversal cannot exceed 165 for PPE and 235 for Building. 2. Will be used to increase only Building and PPE. Not inventory or investment in equity shares.
Hariharan Ravichandran
CA Final
★ 2K+
3
140
Doubt regarding Indian Origin
Direct Taxation
answered on 25-Jul-25 20:32
In this question, Mr X was born in Pune. So, he is a person of Indian Origin, right? Because the rule says either himself or his parents or grandparents were born in undivided India to be person of Indian Origin.
latest answer
He will be Indian origin only if he is born in undivided India
Mathew Joseph
CA Inter
★ 0
1
153
ILL-11
Financial Reporting
answered on 24-Jul-25 20:13
Hello sir, Why the exchange gain is not recorded in P&L of consolidated FS [Video Time Stamp: 11:26]
latest answer
👍
P.udaykumar Pasupulati
CA Final
★ 2K+
2
132
ILL-11
Financial Reporting
answered on 28-Jul-25 16:39
Hello sir, Here in the problem inventory is a Non-Monetary item it should be restated either in Historical Cost or NRV. In the problem NRV is not available so we have to restate it Historical cost i.e Transaction date (Rs.83) where you taken 85 Can u clarify this [Video Time Stamp: 07:54]
latest answer
For translation of financial statements of subsidiary to holding company, we would consider closing rate
P.udaykumar Pasupulati
CA Final
★ 2K+
1
160