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Accounting standards


yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     15 January 2021

yasaswi gomes
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Residual value= asset cost/ end of life lower of CA or Fvlcd this should be the correct if the measurement criteria is correct).

Or else it’s simoly = cost of asset/sale value

This gives your the percentage of residual value from the total asset cost

No big case studied found because, IFRS, founder of IndAS also mentions that residual value is insignificant. Please don’t hesitate to contact me for further queries.

MPR sanjay Kumar

MPR sanjay Kumar (CA student)     15 January 2021

MPR sanjay Kumar
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If I passed my CA ipcc both group and having completion of articleship 18 months can I go to Industrial training ....????

yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     15 January 2021

yasaswi gomes
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Yes why not because your English is good along with accounting module. This will develop your analytical and problem solving abilities.

Eligibility for ICAI Industrial Training 

  1. A candidate who has passed the CA Intermediate or CA IPCC Examination (both groups) is eligible to serve as an Industrial trainee in any of the financial, commercial, industrial undertakings as may be specified by the council or such other institution or organization as may be approved by the council from time to time. 
  2. An article can serve as an Industrial Trainee amid the last year of Practical Training. 
  3. The candidate must intimate his principal at least three months before the date of commencement of ICAI Industrial Training.

 

MPR sanjay Kumar

MPR sanjay Kumar (CA student)     15 January 2021

MPR sanjay Kumar
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What is eligible ITC and ineligible ITC

yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     15 January 2021

yasaswi gomes
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Sry. Taxation is something I don’t deal with. I deal with capital gains, corporate taxation in IFRS and IndAS only

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yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     16 January 2021

yasaswi gomes
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In the above residual value formula, disposal is lower of ca or fvlcd as well, I don’t see much difference between NRV and fvlcd. Gn

MPR sanjay Kumar

MPR sanjay Kumar (CA student)     18 January 2021

MPR sanjay Kumar
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Can you please any one tell me why is mean by departmental accounting

yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     19 January 2021

yasaswi gomes
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That is there n b.com and AS maybe .But it’s nothing but accounting for expenses and goods transfer. 

yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     19 January 2021

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Ok revenue does not include branch accounting- but AS 17 does as a business segment. Some expenses are partially allocated to enterprise and others are not. 

https://www.mca.gov.in/Ministry/notification/pdf/AS_17.pdf

yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     20 January 2021

yasaswi gomes
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Departmental accounting could also mean accounting for centralised and decentralised business reporting. Which ever saves money, either reporting financial data at the head office or branch level independently is  adopted. 


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