Forums
Financial Instruments - CFI
Financial Reporting
answered on 09-Jul-25 17:19
When CFI is redeemed early, for the FL portion, whether P&L is calculated as the 1. Difference between Carrying amount on Repurchase date and PV of remaining future cash flows @ new discount rate or 2. Difference between PV of remaining future cash flows @ Initial Discount Rate and PV of remaining future cash flows @ new discount rate a)
latest answer
Thankyou sir
Durai Murugan
CA Final
★ 470
3
153
Deducting cost at subsequent measurement
Financial Reporting
answered on 10-Jul-25 10:28
Sir, what is the reason behind deducting the cost again at subsequent measurement.?? Illustration -2 [video Time Stamp: 09:47]
latest answer
Okay Sir. Thank you
K Vamshi
CA Final
★ 14K+
3
141
Advanced ITT exam
Others
answered on 09-Jul-25 11:32
Sir, my Advanced ITT exam is on 26th July 2025. But the date for filling CA exam forms for final is 8th July 2025 to 21st July 2025. So, will I be able to fill the exam form and appear in September attempt?
latest answer
There is a cut off date 10th August for ITT passing despite exam form submission date being earlier pls refer last line in page 2 https://resource.cdn.icai.org/86573exam-final-sep2025-requirements.pdf
Parita Patel
CA Final
★ 0
1
170
question 17
AFM
answered on 03-Jul-25 10:29
Sir in this sum why is investment(25200) added back in Y1 inflow calculation?
latest answer
Margin whatever is invested in returned back after adjusting for losses if any here we got a profit so we get the profit and also the margin money we invested earlier
P AKSHAYA
CA Final
★ 260
1
146
Net ITC
Indirect Taxation
answered on 03-Jul-25 13:04
Don't we include Opening balance of ITC while calculating Net ITC [Video Time Stamp: 01:54]
latest answer
Okk !!
Hrishikesh Pradhan
CA Final
★ 18K+
3
179
Refund calculation
Indirect Taxation
answered on 25-Feb-26 11:51
Here, for calculation of refund for inverted duty structure why have we not multiplied Tax payable on such inverted rated supply with Net ITC and divided by ITC availed on inputs and input services as per the formula [Video Time Stamp: 09:54]
latest answer
Oh. Missed this. Will resolve ASAP
Hrishikesh Pradhan
CA Final
★ 18K+
4
1K+
Inventory valuation
Accountancy
answered on 03-Jul-25 11:56
In this question the answer is done in statement basis but if we do it in form of trading account basis is it as per icai and by working note How to derive profit margin on sales from profit margin on cost (33.33%)
latest answer
Pls share your working
Gurukanta Singh
CA Foundation
★ 19K+
23
220
Gross profit
Accountancy
answered on 03-Jul-25 10:09
In the question instead of cogs we take sales in cr side and gross profit in dr side to know the opening stock [video Time Stamp: 17:40]
latest answer
Yes
Gurukanta Singh
CA Foundation
★ 19K+
1
121
GST compensation cess
Indirect Taxation
answered on 03-Jul-25 12:48
Sir, since GST came into practice from 2017 does the compensation cess period of 5 years lapsed on 2022 or still existing.
latest answer
Its extended till 31.3.2026
PUVIA RAVINDRAN
CA Final
★ 9K+
1
191
Professional Ethics
Auditing
answered on 05-Jul-25 14:51
Ma'am, how will we understand this question is asking about Clause 5 and 6 of Part 1 of 2nd Sch?
latest answer
Clause 5- -When the CA is duty-bound to disclose something important, but does not do so, leading to potential misguidance. -May be unintentional (negligence) or intentional Example A CA issues a financial report but omits disclosing a known contingent liability The CA knows the fact and knows it’s important but fails to disclose it. Clause 6- When the CA is associated with a financial statement that contains a misstatement and the CA knows it, but does not report it. Generally intentional or reckless, as the misstatement is known and the CA doesn’t act on it In simple terms, clause 5 is omission , CA KNEW IT BUT DIESNT TELL reveal it. Clause 6 , he knows there is wrong but doesn’t disclose it.
R M
CA Final
★ 3K+
1
138