17 January 2020 at 14:15

Accounting Head

Respected Experts ! Please guide ,under which head should we book the expenses incured in executing the Rent Deed of a Partnership Firm ??? Like Stamp Duty and Registration Expenses of the Rent Deed

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15 January 2020 at 12:43

Consolidation of Associate

How to consolidate the financial statement of associate when the reporting period of the investor and the associate is different.

I am aware of the following para mentioned in AS - 23.

"When the reporting dates of the investor and the associate are different, the associate often prepares, for the use of the investor, statements as at the same date as the financial statements of the investor. When it is impracticable to do this,financial statements drawn up to a different reporting date may be used.
The consistency principle requires that the length of the reporting periods,and any difference in the reporting dates, are consistent from period to period.

When financial statements with a different reporting date are used, adjustments are made for the effects of any significant events or transactions between the investor (or its consolidated subsidiaries) and the associate that occur between the date of the associate’s financial statements and the date of the investor’s consolidated financial statements."

So, in all such cases, the associate draws financial statement as of the same date of investor ? and if not what kind of adjustments are made by the investor if it uses financial statement of different period of the associate.
Is there any other method ?


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14 January 2020 at 10:43


We had certain mutual funds which were redeemed in September 19. On 3.10.2019 we recieved bonus units from the fund while already complete redemption of previous units was done.What will be the accounting entry for these bonus units and what will be the value to be shown.

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13 January 2020 at 17:32


Hello I want to appear for Diploma in IFRS by ACCA. Please suggest which is the best institute that provides coaching for DipIFRS. I have read about training given by KPMG, Grant Thortan, PWC but unable to decide about the option. I also read about the online videos provided by Takshila institute (speaker Mr Amit Kumar) for IFRS, is that advisable ? I want to appear in June exams

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13 January 2020 at 11:50

Loss stock calculation

Our organisation set up for procurement of agricultural product. We give market cess on purchase price of agricultural product. 96 quintal stock have damaged due to rain. Can we add market cess for calculation of loss statement ?

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When clearing CERTAIN customer open items when there is an exchange rate difference, its posting in to the balance sheet adjustment account instead of the gain/loss P&L accounts....What can be the reason to this? When does the balance sheet adjustment account gets posted other than during the month end exchange run?
We are running SAP EHP 7

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11 January 2020 at 13:24

Loan funds

How to show in our Private ltd company balance sheet the loan funds availed by Mr. X who is a relative/friend of Company CEO(also the owner of company having 98% shareholding) where the entire Loan availed by Mr. X has been used to fund the business of the Company. The company also pays the EMIs of this Loan.

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09 January 2020 at 23:19

Balance sheet

i want to learnhow to download balance of unlisted company.as i am making a project on rotomac scam and want balance of that company

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08 January 2020 at 09:51


Is compulsory to prepare Fund flow statement?.
Who will prepare FFS? Company or Anyother person?

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We have a requirement for one of the client where we recognize revenue only once a milestone is achieved. That milestone represents that the performance obligation has been completed. So for example if we they start providing services from 1st jand and they completed the milestone on March. So ideally as per 606 we need to recognize revenue only in march since we need to recognize revenue only once performance obligation is completed. Howe ever they incurred some costs in Jan and feb but no revenue recognized in those months. So there will be only costs and revenue in Jan and Feb which is against the matching concept. Can some one help in this query? Do we need to defer costs as well?

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