Forums
political risk
AFM
answered on 04-Feb-24 15:07
I couldn't understand that how multilateral agencies counter the political risk?
latest answer
Thank you sir.. I understood
Harini Desu
CA Final
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2
355
Including extension of contract as part of lease term
Financial Reporting
answered on 06-Feb-24 19:32
In the entity I'm currently auditing, lease contract states lock in period of 2 years and further extension of 1 year at discretion of lessee. However, while accounting for leases as per IFRS 16, only 2 years is considered as lease term. Is it because the duration is longer and we cannot estimate with reasonable certainity about continuation?
latest answer
okay
Dhvaritha Ravishankar
CA Final
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2
183
Lessor having option to terminate lease
Financial Reporting
answered on 06-Feb-24 19:30
If lessor has option to terminate contract and it is likely to be exercised then do we include it in the lease term? There is no clarity on the lessee's part if the lessor may or may not terminate the contract within the rights as per agreement. So why do we consider it as part of the lease term?
latest answer
understood sir, thank you
Dhvaritha Ravishankar
CA Final
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2
414
Advanced Capital Budgeting
AFM
answered on 06-Feb-24 11:10
Sir can solve the first part of tyk 07 of the study material like this?
latest answer
okay sir
Swathi Krishna
CA Final
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2
348
Reversal of Impairment Losses
Financial Reporting
answered on 17-Feb-24 15:28
Sir, in the lecture it was explained that the reversal of impairment losses should be limited to the cumulative impairment losses recognised earlier. In continuation to the question regarding allocation of losses, the author has not considered the downward revaluation of the PP&E when computing the cumulative impairment losses. (I) In this regard, what is the difference between downward revaluation & impairment of PP& E and Intangible Assets since both of them have similar accounting treatment? Can we include downward revaluation on PP&E while computing the cumulative impairment loss? (II) Can the previously recognised impairment losses in case of components of a disposal group be included while calculating the cumulative impairment loss?
latest answer
Downward revaluation is not impairment. Revaluation is done basis the fair value of the asset. For reversing impairment losses, you can consider impairment of individual assets of the group to determine cumulative impairment losses.
Vignesh Panigrahi
CA Final
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1
244
Regarding CA Final May 2024
Others
answered on 09-Feb-24 13:50
In the exam instructions it is mentioned that completion of advanced icitss should be on or before 10th April 2024. But in the advanced icitss exam date notification it is mentioned that only batches completed on or before 15th March will be eligible for the 30th March exam. So my query is whether if my batch finished on April 5th, will I be able to attempt May 2024 exam. (Also in this case what will be my exam date for advanced icitss)
latest answer
You may not be able to appear in the exam.
Jowel Jacob Jestin
CA Final
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1
394
TDS
Direct Taxation
answered on 07-Feb-24 22:27
Payment to foreign company having no PAN for the provision of technical fees at what rate TDS has to be deducted As per DTAA 10% there were no mention for PAN As per income tax 20%
latest answer
Ok sir thanks for your valuable feedback ☺️
Bhavesh Bhil
CA Final
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4
374
Supply
Indirect Taxation
answered on 05-Feb-24 07:50
When both supply of goods and services arise we will have to see the predominant activity in such case and we will regard it according to that as Supply of goods or Supply of service.Eg retreading of tyres which Sir explained in the video.But in this case in module it's given differently as we should see separately when both goods and services made together.Which one is correct?What to consider?
latest answer
Both we will see separately only when it is not composite or mixed supply. Retreading of tyres is composite supply. Kindly refer the video once again. It is explained the same.
Lavi Lavanya
CA Inter
★ 6K+
1
341
AS-2
Accountancy
answered on 07-Feb-24 11:25
What is the answer for these 2 questions?
latest answer
Admin overheads are never included in cost of inventory.
Lavi Lavanya
CA Inter
★ 6K+
8
434
General doubt -portion
Auditing
answered on 03-Feb-24 20:34
In final , we don't have company audit then why do we have CARO and company audit in lectures
latest answer
Company Audit for knowledge. Will help in articleship and interview
Hrishikesh Pradhan
CA Final
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2
315