shakuntala chhangani's Expert Profile

Queries Replied : 590

About me

Hi, I am practicing CA from aamchi Mumbai. I am more of an academician. Teaching is my passion. I am a fun loving lady. I Enjoy listening music, dancing, playing guitar, doing pranayam and meditation, Swimming, reading books, water sports ........... Sometimes even I myself wonder is there anything which I don't enjoy doing?

Further i love watching cartoon and comedy movies. I equally love reading books.

Apart from professional friends, I basically believe that one should not makes friends without understanding n should not break it due to misunderstanding. Keep visiting my profile for more information about me.

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Ankit Shah says : need your help
madam,which book do you suggest for Auditing in CA Final?and mam,Why did you say M.P.Vijaykumar for AS?Is it best book among all other books?Please reply, mam.Thanks in advance.

CA Ysil Karunai says : CFS
Consider the following example: H Ltd is holding company of A,B,C & D Ltd. A & B Ltd having a Goodwill of Rs. 10,000 each in their balance sheet (before holding - Subsidiary Relationship exist) While preparing a CFS for H Ltd. a capital Reserve Arising out of above four subsidiaries say Rs. 135000/- Query: 1. Whether Capital Reserve arising on CFS can be netted off against Goodwill in A & B Ltd and Shown as a capital Reserve in CFS of H Ltd as Rs. 115000 (135000-20000)? 2. If yes, whether it amounts to Impairement of Goodwill, since the Goodwill was not arising on Consolidation? Assume it as Purchased Goodwill.