Forums
Rounding off
Financial Reporting
answered on 31-Jan-24 09:55
If companies follow AS And not IND AS then amounts needed to be rounded off in terms of 100's or lakhs sir?
latest answer
refer attachment
M Naresh
CA Final
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1
309
Setoff of revaluation gain or loss
Financial Reporting
answered on 31-Jan-24 09:51
Sir , so we set off the amount of current year with only last year or all the prior periods. Eg: I had revaluation gain from last 5 years of Rs 50000 total and this time I have revaluation loss of 15000 , will this 15000 will be setoff from revaluation surplus ?
latest answer
Revaluation surplus is a balance sheet item and is accumulated year on year. You can write off the loss against the total balance of gain. It is done on an asset-to-asset basis.
Hrishikesh Pradhan
CA Final
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348
Sec 129 Change of Income tax Authority
Direct Taxation
answered on 02-Feb-24 18:57
Is it mandatory for succeeded AO to accept the request made by the asessee to reopen or reheard the proceedings against him before continuance of the proceedings?
latest answer
Not mandatory. It is only in case where opportunity of being heard was not given by predecessor AO
Chandu vadla
CA Final
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320
Financial statement Analysis
CFA
answered on 31-Jan-24 03:07
Module 30.1 Example: Revenue recognition 1.performance Obligations
latest answer
total revenue from a project is say 10 Mio, the project is spread over 2-3 years. So cumulative revenue over 2-3 years is 10 mio So based on construction, i.e % of completion total project revenues and costs are recognized. Say project is 50% complete in yr 1 then 50% cost and revenue are recognized. In year 2 if completion rate is 75% then cumulative revenue and cost for year 2 is 75% If one has to get revenue for the year 2 then one has to subtract cumulative revenue for 2 years minus revenue recognized in year 1
Swetha Saravanan
CFA L1
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467
Regarding supply chapter
Indirect Taxation
answered on 02-Feb-24 19:07
Can any one answer , supply of goods to branch with the same GSTIN for consideration is supply or not?
latest answer
Different GSTIN are considered as distinct even though PAN is same
Nikhil Tiwari
CA Final
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Individual module subscription
Others
answered on 31-Jan-24 10:03
How long this individual module subscription will be available to us?
latest answer
Sale ends today
Revathy N
CA Final
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2
273
What is Revaluation is not done by Register Valuer?
Auditing
answered on 30-Jan-24 17:18
What if register Valuer not done revaluation then we must give adverse opinion? Or no need to report in CARO
latest answer
Needs to be reported. in Para 4 , need to mention Revaluation is not done by registered valuer.
Surya Prakash
CA Final
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335
General doubt
Others
answered on 30-Jan-24 13:19
Sir in individual module it is showing bcr and bck but both are not in ca foundation new syllabus
latest answer
OK sir 👍
sai t
CA Foundation
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2
380
Security Valuation
AFM
answered on 30-Jan-24 22:07
Can the computation of the value be based on the earnings model? Ke is same 13.2 as computed but the values of the share when opted for different models would give us different results..so in a case when the question is silent which one of the method should be followed?
latest answer
Okay sir thank you so much
Vindhya Y.V
CA Final
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397
IGNOU admission
Others
answered on 31-Jan-24 09:35
Anyone know why IGNOU not offering bcomaf and what to do now
latest answer
Yes. You can refer to the official website
Seetha Ram
CA Final
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12
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