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Ind AS 1 - Breach of Covenant
Financial Reporting
answered on 22-May-26 16:22
I had a doubt because of the wording used in the text. Assume Breach happens during the year, and 1. Lender gets a waiver before the Reporting Period. Is it a Non Current liability at year end? 2. Lender gets a grace period of, say 20 months from end of Reporting Period, after Reporting Period but before issue of FS. Is it a Non Current Liability at year end?
latest answer
Oh ok, understood. Thank you And in case 2.?
Vishnu Muraleedharan
CA Final
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2
77
Exchange margin
AFM
answered on 21-May-26 12:04
1. Sir, whether the Sale at spot on 10/9 and 12/9 is made to another bank or customer? 2. If sale done to customer, why exchange margin is not applicable for spot sale on 10/9? 3. On selling spot at 12/9, Bank is selling $ and receiving ₹ and the customer in turn buy $, so the exchange margin should be added instead of reducing right? [Video Time Stamp: 21:01]
latest answer
1. ON 10th Sep /12th the buy / sale on spot is assumed to be made in interbank - whether the bank actually executed it with another customer or interbank is irrelevant 2. Exchange margin is on last cancellation as per fedai rules - pls check the table i shared when explaining this concept - it is not on all intermediate cancellations 3. on 12/9 bank is selling on spot in interbank market. when bank is selling, they will receive INR, always assume that when you look at things from customer side we get lower money on sales and pay higher money on purchases. Here since bank is now going to behave like customer and interbank will be like the main bank. Customer loses money on margin So when Bank sells USD they will receive less INR hence margin is reduced
SANJITHA
CA Final
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1
101
Ind AS 1 - 3rd Balance Sheet - Illustration
Financial Reporting
answered on 21-May-26 09:47
In the Tata Motors illustration, they mention that there is no material impact on the P/L. Shouldn't it be the balance sheet that is relevant?
latest answer
Ah my bad, understood. I was thinking of the 3rd BS requirement
Vishnu Muraleedharan
CA Final
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2
147
Adjustments
Accountancy
answered on 21-May-26 09:44
Interest paid to Dena bank Opening balance=₹50000 Required interest = ₹6,000 Already in books = ₹4,500(include 3000 paid to Dena bank givenin adjustments) Adjustment needed only for = ₹1,500 [Video Time Stamp: 21:58]
latest answer
Total Interest required - 6,000 Total interest paid to Dena & Accounted = 3,000 Balance - 3,000 is to be provided
SriVidhya M S
CA Foundation
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1
109
Lease
Financial Reporting
answered on 21-May-26 09:43
Then what about the lease liability and ROU asset to be presented in the balance sheet since no value has been assigned to the asset transferred
latest answer
Nothing will be recognised. Any payments done will be recorded in PL directly like normal purchase transactions
magesh mathiyazhagan
CA Final
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1
68
Illustration 20
AFM
answered on 20-May-26 22:04
Sir, regarding Part 3 of the question, while computing the opening NAV, my understanding is that we need to assume that only the investments are available at the opening stage and that they are valued at cost. Is my understanding correct?
latest answer
Yes
Mhd Mmp
CA Final
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2
89
Section 20
Corporate & Other Laws
answered on 21-May-26 12:00
As per section 20,only member can request the delivery of document in a particular mode?. But in the question, aman is director of the company. Can director of the company also request for the delivery of document in a particular mode? [Video Time Stamp: 21:02]
latest answer
Ok mam thankyou
Geeta B
CA Inter
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2
125
doubt
AFM
answered on 20-May-26 17:11
sir why are we multiplying 1+x instead of x. [Video Time Stamp: 08:00]
latest answer
Thank you sir
pavan kumar
CA Final
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2
97
Section 15.
Corporate & Other Laws
answered on 21-May-26 11:55
As per section 15, every alteration to MOA &AOA has to be updated in all copies. The company will update all the copies with it both ,physical and electronic. Whether it is the duty of the company, to submit the updated MOA and AOA to it's stakeholders on its own? Since the stakeholders of the company will have a old copy only. [Video Time Stamp: 37:01]
latest answer
Ok mam. Thankyou
Geeta B
CA Inter
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2
175
New contract
AFM
answered on 20-May-26 11:25
Sir, for the new contract entered will the bank again cover its position by interbank forward? Does the same process continues?
latest answer
Yes
SANJITHA
CA Final
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1
82