thnx a lot... to darshak n ashwin......
Menu
Discuss and download May exams here !!
| Originally posted by : RAJ SHAH | ||
 |
guys value added statement mein target ratio highest leneka tha yaa lowest..i mean was it 41% or 47%..i took 47%.. |
 |
VAS ka average was 45.13%
| Originally posted by : Monica | ||
|
|
Originally posted by : RAJ SHAH guys value added statement mein target ratio highest leneka tha yaa lowest..i mean was it 41% or 47%..i took 47%.. VAS ka average was 45.13% |
|
Target Index always low....
Any Ques From Mock test papers...............?????
THNX A LOTT...U HV BEEN GR8 HELP FOR UPLOADING D PPR!!
thanks for sharing .
thanx for uploading paper....
they asked about the best target index, which should be the lowest. So 41% to be taken for VAS.
and for Beta, average beta to be taken - 0.73
Good paper. Time is only constraint for this
| Originally posted by : kunal patel | ||
|
do we have to take Impairment loss in DTA calculations? |
|
ICAI specifically asked for Deferred Tax Working AS-22. No need to show working under AS-28
Q1 - Accounting Std - Very good & one can answer easily
Q2 - Consolidation - Similar to earlier exam question ( Repet Question)
Q3- Easy but bit time consuming question but one can get full marks.
Q5 - a - AS-15 - similar question in May or Nov - 11
Q6 - a - similar to earlier exam paper
- b - VAS- easy question - just have to take Avg beta
Q7 - a - Simple question
b - simple question on AS-20
c - Again conceptual question - similar type of question available in any AS book.
d - AS-16 simple computation of borrowing cost
Please check similar question for AS-16 [Question no. 1 (a)]
XYZ Ltd. has taken a loan of USD 10,000 on April 1, 20X3, for a specific
project at an interest rate of 5% p.a., payable annually. On April 1, 20X3,
the exchange rate between the currencies was Rs. 45 per USD. The exchange
rate, as at March 31, 20X4, is Rs. 48 per USD. The corresponding amount
could have been borrowed by XYZ Ltd. in local currency at an interest rate
of 11 per cent per annum as on April 1, 20X3.
The following computation would be made to determine the amount of
borrowing costs for the purposes of paragraph 4(e) of AS 16:
(i) Interest for the period = USD 10,000 × 5%x Rs. 48/USD =
Rs. 24,000/-
(ii) Increase in the liability towards the principal amount = USD
10,000 × (48-45)
= Rs. 30,000/-
(iii) Interest that would have resulted if the loan was taken in Indian
currency = USD 10000 x 45 x 11% = Rs. 49,500
(iv) Difference between interest on local currency borrowing and
foreign currency borrowing = Rs. 49,500 – Rs. 24,000 = Rs.
25,500
Therefore, out of Rs. 30,000 increase in the liability towards principal amount,
only Rs. 25,500 will be considered as the borrowing cost. Thus, total
borrowing cost would be Rs. 49,500 being the aggregate of interest of Rs.
24,000 on foreign currency borrowings (covered by paragraph 4(a) of AS
16) plus the exchange difference to the extent of difference between interest
on local currency borrowing and interest on foreign currency borrowing of
Rs. 25,500. Thus, Rs. 49,500 would be considered as the borrowing cost to
be accounted for as per AS 16 and the remaining Rs. 4,500 would be
considered as the exchange difference to be accounted for as per Accounting
Standard (AS) 11, The Effects of Changes in Foreign Exchange Rates
Go through the Ans-
| Sr No | Particulers | Million | Currency |
| 1 | Borrowed Sum | 12.5 | US$ |
| 2 | Interest in foreign country | 0.625 | US$ |
| 3 | Converted @ 48 | 30 | INR |
| 4 | Exchange difference (48-45)*12.5 | 38 | INR |
| 5 | Interest if borrowed in India | 62 | INR |
| 6 | Difference between interest (62-30) | 32 | INR |
| 7 | Borrowing Cost (38-32) | 6 | INR |
in which attempt consolidation was same??
Thank you very much....!!!
Recent Threads
- Invoice related audit
- Gst input credit related
- Updated ITR as missed the dead line
- Change if place of business l
- Purchase from unregistered dealer garments busines
- TDS DEDUCTED BUT NOT PAID BY EMPLOYER
- GST RCM GTA
- TDS Challan interst amount wrongly paid as surchar
- Query on TDS & Stamp Duty
- Query on form 26QB and TDS deduction
Related Threads
CAclubindia
