Forums
exams thrice a year
Others
answered on 19-Mar-24 15:38
when we can expect official announcement about conducting exams thrice a year from icai
latest answer
thank you sir
Vidyakrishna vidyakrishna
CA Inter
★ 1K+
2
339
Professional ethics
Auditing
answered on 21-Mar-24 10:39
Will charted accountant in practice will deemed to be professional misconduct if he have share in business for example say , juice business or educational business , under clause 3 of the schedule 1
latest answer
Chartered Accountant in practice shall not engage in any business or occupation other than the profession of accountancy, except with the permission granted in accordance with a resolution of the Council. Specific permission of council is needed. (ICAI)
Swathi Krishna
CA Final
★ 8K+
1
326
Leave encashment exemption
Direct Taxation
answered on 22-Mar-24 18:12
What you mean by 10 months average salary ? For me we have to add the salary received for last 10 months and divide that amount with 10. am I right? But in a question that I saw, they just multiply 1 month salary into 10 months and they said that is the average salary of 10 or 10 months avrg salary.
latest answer
10 Months Average Salary means 10 * Average Salary. Average Salary means last 10 month salary upto the date of retirement/ 10.
1 Minute Review
CA Inter
★ 405
2
462
Adv. Cap. Budget
AFM
answered on 19-Mar-24 16:31
Why we've calculated nominal cashflows, considering depreciation also affected by inflation. (but as you said in an earlier video, depreciation is always a historical item- depreciation won't change due to inflation rate)
latest answer
Ohh.. okay.. Got it!
Aswath Natarajan
CA Final
★ 2K+
2
499
Motor car perquisite valuation
Direct Taxation
answered on 25-Mar-24 12:21
Can I know the logic behind this calculation . Why that calculation of greater than and less than 1.6 litre is considered as the "amount used for official purposes". ? When it comes to the scenario that the motor car is owned by the employer and maintained by the employer... AND that car is used for both private and official purposes , Then value of perquisite is the the same calculation like greater than or less than 1.6 If that calculation is known as amount for official purpose then why it is considered as a perquisite in hands of employee when the car is own and maintained by the employer.
latest answer
Welcome.
1 Minute Review
CA Inter
★ 405
12
984
Illustration
Financial Reporting
answered on 19-Mar-24 16:10
There is no opening capital in the first case except 6000 units * 2 per unit. When these are sold at 3 per unit, the balance remaining should technically be 6000*1 which is the profit element. So closing balance will be 0. Unless he has 12,000 already and purchased additional 6,000 units at 2 in the CY. Please clarify.
latest answer
He already had 12000 of opening capital right
Dhvaritha Ravishankar
CA Final
★ 7K+
1
179
Listing of shares to public
Corporate & Other Laws
answered on 19-Mar-24 15:28
Mam if one stock exchange gave permission means a company can proceed to public offer
latest answer
Yes. But If prospectus mentions 2 or more stock exchanges on which listing will be there, and one or more of such exchange refuses, then fresh prospectus will have to be issued. Otherwise issue will be invalid
Lavanya royal Lovely
CA Inter
★ 150
1
140
Trading in Futures & Options
AFM
answered on 19-Mar-24 07:12
Sir, (1.) Suppose Mr. A executes a far month future contract with Mr. B. Mr. A can, either sell his existing position in the contract to Mr. C (TRADE), or take an opposite position in another far month contract with Mr. D (SQUARE OFF), in order to lock his current earnings. This makes future a tradable financial instrument. Am I right? (2.) Similarly, will it work in case of option? Apart from SQUARE OFF, can't option be TRADED in between the date of execution and the date of expiry? If yes, how can it be traded? Is it done by exchanging a negotiated revised premium?
latest answer
Trading refers to buying and selling. You buy from ok a pool on exchange and you sell to a pool on exchange. Transaction to transaction buyers and sellers are not identifiable A fin instrument purchased on an exchange has to be either squared off or executed on an exchange
Denz Philip
CA Final
★ 10K+
1
163
Regarding profit sharing ratio in illustration 2
Accountancy
answered on 11-Apr-24 09:25
Sir why 3:4:4 is taken as oldv profit sharing ratio. Why we should consider 5:4:3
latest answer
In the question the revised profit sharing ratio is given as 3:4:4. So we consider it.
Surya Kiranmayee
CMA Inter
★ 0
1
186
Macaulay Duration
AFM
answered on 18-Mar-24 22:12
Hello Sir, Basically Macaulay Duration is the duration taken for the investor to get back the money invested + interests. So when two bonds are given, should we not choose the bond with lower duration?
latest answer
Understood sir, thank you so much
Susee Arunachalam
Qualified CA
★ 26K+
2
363