IF I APPLY FOR ACCOUNTING TECHNICIAN ALONG WITH MY IPCC WILL MY ARTICLESHIP OF ONE AND HALF YEAR WHICH IS REQUIRED FOR ATC WILL BE INCLUDE IN MY 3 YEARS ARTICLESHIP OR I HAV TO WORK 1.5 YEARS EXTRA??

Sir , my leave is starting from Sep 1, 2011 and i have to appear both groups in November 2011. Advice me how to study. Ya i had given attempt prev time and i was good at audit and Ind Tax. shall i keep target of 6 days per subject with full concentration. or shall i fully concentrate on 2nd group for the 1st month and then do 1st grp in Oct start??

what is meant by accrued and what is mean by interest accrued but not due , what is mean by interest earned but not recieved pls any one solve my query.

can anybody please tell me whether condonation letter for late submission of Form 108 should be given by principal or the article? or two separate letters have to be issued from both of them?
Please reply at the earliest
Thnx..

Que.- On 15 July, 2007, SBI booked a forward purchase contact for Euro 50,000 due August 30 @ Rs. 56.35. On 10th Aug. the customer requests the bank to extend the forward contact for 30th Sept. Foreign Exchange rates on 10th August are:
Spot 56.1325 – 56.1675
Forward 30th Aug. 55.6625 – 55.7175
Forward 30th Sept. 55.4425 – 55.5375
At what rate the contract will be extended? What amount of loss / gain will be receivable from / payable to customer?
Answer: On 10th August, the bank will enter into two forward contacts with the customer.

(i) under first contract (maturity 30th August, 2007), bank will sell Euro 50,000 to the customer on 30th August @ 55.7175 (this contract is necessary for cancellation of 15th July contract )

(ii) under second contract, bank will purchase Euro 50,000 from the customer on 30thSept. @ 55.4425 (this contract is necessary as the customer wants Euro 50,000 on this date on forward basis )

On 30th August:

(i) The Bank will purchase Euro 50,000 from customer ( under 15th July contract) for 50,000 x 56.35 i.e. Rs.28,17,500

(ii) The Bank will sell Euro 50,000 to customer for 50,000 x i.e. 55.7175 i.e. Rs. 27,85,875 ( under the first contract entered on 10th August).

(iii) Profit to customer is Rs.31,625. This profit will be paid to customer on 10th August itself.



Doubt- In this case bank is suffering a loss- (56.35 - 55.7175)* 50000= Rs 31,625 mentioned as profit for customer in solution above. But we know that bank will not bear any loss on itself so it will recover this loss from the customer.( As it is a cancellation of contact before maturity.)

Plz correct me.

As i have completed my training in july 2011 and have already submitted the form 108 but the completion certificate has not been issued yet. So under which option should i fill in the service certificate. Either on already completed or in to be completed in 31st october2011.

hellos I want to know that I am doing my article ship from alwar(rajasthan)...around 3 hours far from Delhi..

My query z that I want to know does there are any difference, If I did my article ship from here only instead of Delhi.?

I'm in My 1st year of article ship

Having secured an exemption in a subject in group 1 of ipcc... in the next attempt, when calculating aggregate, will the subject in which exemption has been scored be included??

eg : if a/cs marks is 70 in 1st attempt..
in the 2n attempt, for calculating aggregate will it be :
a/cs (70) + whatever scord in law+costing-fm+tax >= 200 (or)

law + costng-fm + tax >= 150 ???

I want to know that since right to information is levied,so can i use it for reverification of my ca final 2nd group.and what actually is RTI and in what manner it can help me .kindly help me

Hi, i recently cleared PCC and my articleship was completed in june 2010 but i had not submitted form 108 till now, what procedure to be followed now. PLZ ans ASAP its URGENT-------