Forums
Bills of exchange
Accountancy
answered on 30-Jul-21 15:03
1) the acceptor didn't pay the money before the grace date. For example the due date is 28/07/2021 and the end of grace date is 31/07/2022. When should we get him to the notary ? 2) who is notary? Where does he works? Private or government ? 3) in the bills for collection, will the bank charges some amount like purchase using credit/debit card ?
latest answer
Thank you for the response, mam.
Vijay K
CA Inter
★ 9K+
5
601
Clarification on Mentorship program for 1m
Others
answered on 28-Jul-21 16:47
What is mentorship program who does it go..?
latest answer
The program is structured in such a way that each week of the three months mentoring program will be a stepping stone towards achieving your ultimate goal of being fully prepared to crack your exam. To achieve this, I will work with you at a 1-1 level every week. The overall program is for 3 months. The program will be conducted through online video calls using Google hangouts. You can also interact with the mentor through Whatsapp. A 45 minutes session per week will cover the following - Weekly Goal Tracking Exam Preparation Strategies Yogic Meditative Exercises Limiting Digital Distractions Motivational Counselling This program will help you: Improve concentration levels and focus Study for 8-10 hours daily consistently Create and follow effective study plan Analyse your weak areas and prepare for it Drastically reduce unproductive screen time (social media/entertainment/gaming) Track your performance at a weekly/monthly level Memorize and revise more effectively Create and implement a subject -wise strategy to crack your exam Overcome procrastination and negativity during study period This is a live program and will not be available offline through recordings.
Sahana Sirsikar
CA Inter
★ 9K+
3
548
TDS consumed challans
Direct Taxation
answered on 28-Jul-21 16:28
we have un consumed challan are avilable then I want to setoff these challan with demands raised from IT Dep. ,So how to add these challans using Traces to the statements.
latest answer
With respect to practice-oriented issues, please consult a practicing CA
Gopireddy Damodharreddy
CA Inter
★ 2K+
1
693
Analytical procedures used as substantive tests
Auditing
answered on 28-Jul-21 09:29
Can anyone please tell me the meaning of 2nd point
latest answer
Thank you so much for the explanation
Harsha vardhan S
CA Final
★ 470
4
659
Amalgamation
Accountancy
answered on 28-Jul-21 11:48
In ICAI Practical Question 4 they haven't given cost of issues of debentures But in solution they took furniture at 4004 instead of 4054 Even in reserves 50 is adjusted through P/L ac Please explain this part
latest answer
Error at ICAI's end. Original from old material (May 19 SM) - they slightly modified question, but copied same answer.
Priyanka Udeshi
CFA L1
★ 14K+
3
607
Amalgamation
Accountancy
answered on 28-Jul-21 07:43
In prac Q1 why is Reserves and P/L account credited? In question nothing is mentioned about amalgamation in nature of merger
latest answer
All the conditions of amalgamation in the nature of merger is being satisfied in the Q
Priyanka Udeshi
CFA L1
★ 14K+
1
531
AS 29 - 14(b)
Accountancy
answered on 28-Jul-21 14:50
What is mean by "An outflow of resources embodying economic benefits"?... Could not understand this properly.
latest answer
For a liability to qualify for recognition there must be not only a present obligation but also the probability of an outflow of resources embodying economic benefits to settle that obligation. This means that the settlement of a liability should result in an outflow of resources that embody economic benefits i.e. the involvement of cash or cash equivalents used for payment . It could also involve the transfer of other assets. A liability is measured by the value of these resources that will be paid or transferred. Cash / asset transferred are resources embodying economic benefits
Harish R
CA Inter
★ 2K+
2
528
Doubt
Costing
answered on 28-Jul-21 09:03
What is the meaning of optimum run size in this question?
latest answer
U can find economic order quantity/batch quantity thats the economic run Condition: No discount should be offered by supplier
Sri kanaga Varshini
CA Final
★ 3K+
2
585
currency restructuring
Economics
answered on 28-Jul-21 14:17
every time i saw one us dollar is equal to 74 rupees........ i just cant digest this.......why dont we go for a currency restructuring.......why dont we give a new currency format..........for example......... for every 100 rupees we can actually bring a one super rupee note.......if we go to a petrol bunk instead of 100 rupees we can just give one super rupee note.......thats all...........if we follow this we can actually express dollars in super rupees.......like one super rupee is equal to 1.35 us dollars........can we try this model ??
latest answer
thank you dsouza sir
jsome jsome
CA Inter
★ 575
4
733
Cash flow statements
Accountancy
answered on 27-Jul-21 20:03
Y they r transferring to general reserve ???
latest answer
It's actualy revenue reserve, not general reserve. And they are adding the increase in balance of revenue reserve to balance of difference in P&L balance assuming that amount was transferred from profit of the year. In this question, we are not given net profit as per Statement of P&L. So, starting point is taking the difference in P&L A/c as appears in Notes to Accounts.
anusha athikamsetty
CA Inter
★ 65
1
616