Forums
AS 25 Interim Financial Reporting
Accountancy
answered on 24-Feb-20 06:19
There is no specification by the AS to prepare Interim financial report in a particular manner - Complete set or condensed. Then, as an auditor how and from where will I come to know hat company has resolved the IFR to be prepared?
latest answer
An interim financial report should include, at a minimum, the following components: (a) condensed balance sheet; (b) condensed statement of profit and loss; (c) condensed cash flow statement; and (d) selected explanatory notes. This is the minimum requirement. Now if an enterprise prepares a complete set of financial statements, the auditor has to ensure that the complete set of financial statements complies with relevant presentation and disclosure requirements.
Rahul Sharma
CA Inter
★ 3K+
1
964
AS 25 Interim Financial Reporting
Accountancy
answered on 24-Feb-20 06:20
In the annexed illustration, expenditure incurred towards property tax for calender year for Q1 was treated as outstanding or prior period expense? If it is treated as prior period expense, then additional disclosures are required to be made, right? If not, then what will be the treatment and disclosure w.r.t. same?
latest answer
Property tax assessed cannot be considered to be a prior period item. A provision would have been created in the previous periods.
Rahul Sharma
CA Inter
★ 3K+
2
851
Partnership act
Corporate & Other Laws
answered on 23-Feb-20 10:56
In ch partnership act ...unit-relation to partners ... which topics are important with exam point of view ...???
latest answer
For CA exams, pls do not get into important topics and not important topics. You never know when a question comes from which topic.
Sugar Genius
CA Foundation
★ 2K+
1
843
Redemption of preference shares.
Accountancy
answered on 21-Feb-20 20:37
Illustration 2 to find out number of shares ,when shares issued with premium u divided only by face value.. Bt in illustration 4 went shares r issued @ 50 and 10 premium.. We SD divide by 50 right sir.. Y u divided by 6.
latest answer
First is a case where you want to ensure that there is no transfer to CRR. Second is a case where you want to know how many shares are to be issued so that enough money is raised for redemption.
Shruthi V
CA Inter
★ 0
1
956
AS 2 Q&A
Accountancy
answered on 21-Feb-20 20:52
In this question ,the excise duty has not been mentioned but sir took it as Rs.10.How? Does cenvat imply here?
latest answer
Okay
Raviteja Kusumanchi
Qualified CA
★ 42K+
2
942
Doubt in AS 2
Accountancy
answered on 21-Feb-20 20:52
Is depreciation of all assets in factory always considered as fixed overhead ?
latest answer
Okay thank you sir
Raviteja Kusumanchi
Qualified CA
★ 42K+
4
828
Correlation coefficient
Maths & Stats
answered on 21-Feb-20 15:44
Ans please
latest answer
You have to use the formula of 'r' using covariance. Here x and y are actually x-x' and y-y'. Using standard deviation of y you can compute E(y-y')^2.
Shashant Gedam
CA Foundation
★ 460
1
746
Ammendments
Indirect Taxation
answered on 21-Feb-20 15:44
Sir please upload vedio of GST amendments
latest answer
Its uploaded on course as well as on youtube.
Dimple Keziya
CA Inter
★ 4K+
1
730
Contract act law
Corporate & Other Laws
answered on 21-Feb-20 15:45
Sir, i want breach of Contract (unit 5) concept video to understand easyly can you plz help me
latest answer
You can get contract Act videos in April as individual modules.
ekta chudasama
CA Foundation
★ 4K+
1
826
Negotiable instruments
Corporate & Other Laws
answered on 25-Apr-20 09:44
Can some one explain what is that NO RIGHT OF ACCOMODATED PARTY TO RECOVER FROM ACCOMMODATING PARTY ?
latest answer
If accommodated party has paid any amount on an accommodated negotiable instrument, he cannot recover from accommodating party under law.
Sachin M
CA Inter
★ 280
1
879