Forums
For firm can partner be same?
Auditing
answered on 16-Jan-25 23:14
For firm can partner be same for the 2 terms of 5 years?
latest answer
Yes. But threats have to he evaluated. If familiarity threat develops, there needs a change
Manu Jacob
CA Final
★ 6K+
1
161
Doubt
Auditing
answered on 22-Jan-25 20:28
To register as network, for eg KPMG i. Who initiates form A, is it BSR or KPMG who starts the process ii. Who is doing all procedures with ICAI iii. Is the network name KPMG or BSR and affiliates Please explain
latest answer
KPMG will do it And structure name is also KPMG .
Manu Jacob
CA Final
★ 6K+
1
208
Sir my Q sir when company buy back sir is compulsory or optional investor nothing but unit holder choice to give back to company or compulsory to give back unit to company sir
Direct Taxation
answered on 20-Jan-25 23:12
Or sir is this concept buy back same as account concept law concept
latest answer
Buyback is like an open offer.
R G
CA Inter
★ 9K+
1
252
if earlier it was carried at FV
Financial Reporting
answered on 16-Jan-25 11:12
Sir what if the Asset as per Ind AS 16 earlier was carried under FV considering revaluation model, now its transfere to Investment property, now the carrying amount will be the carrying amount earlier (FV was the carrying amount earlier) or need to recompute the cost..
latest answer
Carrying amount will not be changed. So carrying amount as per Ind AS 16 will be considered. As per Ind AS 40 Transfers between investment property, owner-occupied property and inventories do not change the carrying amount of the property transferred and they do not change the cost of that property for measurement or disclosure purposes
Hemachandra D
CA Final
★ 9K+
1
266
Break even point
Costing
answered on 20-Jan-25 13:47
Mefttal Ltd. is currently operating at 60% of its total capacity which is 1.5 times than the previous year. The total capacity of the company is 2,00,000 units. Other information relating to the production is provided below: (i) The total cost of production for the current year is ` 59,28,000, and for the previous year, it was ` 44,72,000. (iii) No changes are anticipated in the cost structure for the upcoming years. Selling price is ` 52 per unit and is expected to remain the same in the coming years You are required to CALCULATE Break-Even Point (in units). (a) 1,20,000 units (b) 40,000 units (c) 80,000 units (d) 1,00,000 units
latest answer
Answer is D i.e 1,00,000 units. Use the concept of Semi-Variable cost to solve the problem. Variable cost per unit = Difference in total cost / Difference in level of Sales. From the above formula, you will get to know Variable cost per unit and Fixed Cost. that is Variable cost is ₹36.4 and FC is 15,60,000. Sales - Variable cost = Contribution Margin, i.e 52- 36.4 = 15.6 BEP (units) = Fixed Cost / Contribution Margin per unit, i.e 15,60,000/₹15.6 = 1,00,000 units.
Preethi S
CA Inter
★ 2K+
1
289
Difference between parttime partners and a person who holds partnership at multiple firms?
Auditing
answered on 15-Jan-25 21:09
Difference between parttime partners and a person who holds partnership at multiple firms? If a person holds partnership at more than 1 firm, wont he be part time?
latest answer
A part-time partner is associated with a firm on a limited basis, often not contributing full-time to the operations. May have restricted rights in decision-making and profit-sharing, depending on the partnership agreement. Partner in Multiple Firms A partner in multiple firms is a CA who is simultaneously a full-fledged partner in two or more CA firms. Actively contributes to the operations of multiple firms.
Manu Jacob
CA Final
★ 6K+
1
255
Forex - Illustration 72
AFM
answered on 16-Jan-25 12:21
Sir, in part B why are we taking the bid rate as the bank is selling EUR for Rs. 25000
latest answer
Yes
Vigneshwar M
CA Final
★ 2K+
3
223
Capitalisation Rate - RTP
Financial Reporting
answered on 21-Jan-25 10:03
Sir, As the question mentioned the borrowings are general borrowings why have we not found out the capitalisation Rate.??
latest answer
Also since it is a single borrowing, capitalisation rate would be same as the borrowing rate.
K Vamshi
CA Final
★ 14K+
4
209
CA articleship
Others
answered on 16-Jan-25 07:51
What can be done if articleship deed has not been executed within 30 days on stamp paper? Is it mandatory If not done what could be the implications
latest answer
It is not mandatory ! It is just taken for proof, in case of any issue in future we may require it to prove our tenure, nothing else.
SUBODH M JAIN
CA Final
★ 2K+
1
324
Finance lease
Financial Reporting
answered on 21-Jan-25 10:06
For calculating the selling profit or loss the cost of goods sold is nothing but the difference between the carrying amount minus the PV of guaranteed residual value or unguaranteed residual value. there is a doubt regarding this, for the purpose of determination of finance lease and also for the purpose of revenue computation we need to exclude the from the present value of lease payment the unguaranteed residual value. Please clarify.
latest answer
Unguaranteed residual value is not a part of lease payment since there is no party who has committed to pay it. So it would not be considered.
natarajan k
CA Inter
★ 3K+
1
216