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Applicability of Statement of Changes in Equity
Financial Reporting
answered on 22-May-25 07:59
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
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1
424
Forex Chapter Ill-79
AFM
answered on 22-May-25 07:46
In this Q, $1=₹51.3625/3700 is a direct quote. But for the purpose of quoting this rate to a foreign bank we converted this quote to indirect quote. so will the bid and ask rate interchange? ie; 1/51.3625 becomes ASK Rate 1/51.3700 becomes BID Rate Sir, correct me if i am wrong
latest answer
Got the logic 👍
rashid poonthala
CA Final
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4
174
Illustration 7
Accountancy
answered on 23-May-25 13:15
Bottom Ltd. entered into a sale deed for its immovable property before the end of the year. But registration was done with registrar subsequent to Balance Sheet date. But before finalization, is it possible to recognise the sale and the gain at the Balance Sheet date? Give your view with reasons. Revenue is the inflow of cash from sale of goods/serves/interest/dividend/royalties. Isn't immovable Property fixed asset?
latest answer
Yes - its an item of PPE However to determine whether control is passed or not we use references to AS-9.
V V
CA Inter
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1
165
sale of flat builder
Indirect Taxation
answered on 28-May-25 08:57
sir in schedule II 5(b) and schedul ewe learnt sale of flat after the compeltion certicficate is neither supply of goods or services, so like here we are telling 5% on outward supplies, how this is linked with. I understood the inward part ITC to extent 80%, confusion on outward supplies incase of builders sale of flat ?
latest answer
If flat is sold after OC then there is no GST. If it is before OC then GST will apply at the rate of 5 percent for residential property.
Hemachandra D
CA Final
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188
Exemption
Exams
answered on 21-May-25 19:09
Will they give exemption for one subject if remaining papers are just filling the name and come?
latest answer
Yes
Short Video
CA Inter
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1
262
Upfront Premia
AFM
answered on 21-May-25 16:39
What does it mean when you say that the upfront premia is an independent cost? In Illustration 50, we've assumed that the upfront premium is included in the forward rate. Here, we're considering the same as an additional cost over and above the forward rate. I don't get the true essence of what actually is happening here. Could you please help me out?
latest answer
Premia
Ruthvik Reddy Adala
CA Final
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1
184
A/c of co
Corporate & Other Laws
answered on 27-May-25 13:38
point b It's saying if subsidiary is unlisted then subsidiary can skip CFS ? If subsidiary is unlisted then holding co can skip CFS ?
latest answer
It means CFS provision do not apply to unlisted companies.
Sushmita Chowdhury
CA Inter
★ 2K+
5
250
if dependent
Indirect Taxation
answered on 21-May-25 12:58
sir what if he the person in USA is dependent/son. In this question its about export not import right ?, so what would be the treatment
latest answer
Export is not covered in Section 7(1)(C)
Hemachandra D
CA Final
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1
198
Forex chapter Ill-72
AFM
answered on 21-May-25 10:40
Earlier A/Cs are sold at 500 EUR But when price is fixed @ Rs 25000 their customer has to pay only 483.09 EUR (ie Rs25000/51.75) So Reduction in price is 3.382% (ie;[ 500-483.09]/500*100) Then Demand Increase by 5.073% (ie;3.382%*1.5) So revised demand is 2528 approx (ie 2400units*1.0573 ) Sir, Is this Logic Correct?
latest answer
No, the price is fixed in INR and not Euro So equivalent Euros is the price - you have to ignore old price of 500 when you make this revised computation as they said price is fixed in INR. Comparision has to be 25000 @ 51.50 vs 25000 @ 51.75 I agree question can be worded better This is ICAI illustration 48 Page 10.104 https://resource.cdn.icai.org/83287bos67342-cp10.pdf
rashid poonthala
CA Final
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1
221
Tide demand
Economics
answered on 21-May-25 10:44
Is the definition correct Tide demand are those demand where demand for a product gives rise to demand for other goods which are used with that good. Tide demand is also called complementary goods In video there are two examples Can we use these examples for our benefits Calculator gives rise in demand for battery Pen gives rise in demand for ink Notebooks gives rise in demand for pen or pencil Blackboard gives rise in demand for chalk Correct me wherever I am wrong
latest answer
Thanks for confirming
Gurukanta Singh
CA Foundation
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2
235