Group 2 accounts

Underwriting: You should not deduct firm underwriting.Only Makered &  Unmarked should be deducted.

Yes i faced the same thing...it was very wierd..the thing was the issue was oversubscribed by 61k shares..

how did u treat it? :?

i took the assumption that there were no closing debtors..hence the balance was taken as cash by me.

but i guess both the assumptions can be given as nothing clearly was provided.

also in insurance how did u treat double tax refund??

I request the Institute to update Study Material and Practice Manual , which will have problems to give a clear picture about how different possibilities of a question being asked and also many more example problems on Accounting Standard are needed because AS problems either in SM or PM doesn't bring up all conceptual explanations in the AS . For example A problem on AS-11 and AS-16 combined was asked , and even spoke aboutLIBOR , which is not present either in SM & PM , I spent more time on that question and was lagging behind and was not able to alot time for other questions.... I don't think its right for the CA institute to do this