reply now plz ITS URGENT

Others 1041 views 8 replies

Q-1 WHAT IS DIFF. B/W PROVISION AND PROVISO?

Q-2 WHAT IS INTER-ALIA ?

Q-3 WHAT IS AUDIT TRAIL ?

Q-4 WHAT IS SUBSTANCE OVER FORM ?

Q-5 WHAT IS AMORTISATION ?

PLZ REPLY SOON ITS URGENT QUERIES

Replies (8)

I'l try to answer some of ur queries

 

The literal meaning of "inter alia" is "among other things." This phrase indicates that the writer or speaker is referring to only one (or more) of several things, not an exhaustive list of all of them.

 

 

 


 
 
 
AUDIT TRAIL - A set of records that collectively provide documentary evidence of processing used to aid in tracing from original transactions forward to related records and reports, and/or backwards from records and reports to their component source transactions.
 

When an entity practice the Substance Over Form, it means that the financial statements reflect the financial reality of the entity (Substance) rather than the legal form of the transactions and events(Form) which underlie them.

Amortization means the paying off of debt in regular installments over a period of time or the deduction of capital expenses over a specific period of time (usually over the asset's life). More specifically, this method measures the consumption of the value of intangible assets, such as a patent or a copyright.

Hey, nice answer by Gayathri

Good Answer.....

Thank u Mr.Ashish and Mr Prashanth

1.PROVISION REFERS TO PREVIOUS PREPARATION  FOR ANY THING

2.PROVISO REFERS TO ' CLAUSE IN ANY AGREEMENT'.

3.INTER-ALIA MEANS AMONG OTHER THINGS

4.AUDIT TRAIL MEANS A PROCESS THAT WE CAN KNOW THE RESULTS OF A PROCESS  FROM A PARTICULAR INPUT WITH FINAL OUTPUT.

5.SUBSTANCE OVER FORM IS ONE OF MAJOR CONSIDERATION OF ACCOUNTING.
 IT MEANS THAT IT IS A SUBSTANCE AND NOT MERELY THE FORM WHICH SHOULD MATTER. THE ACCOUNTING TREATMENT AND PRESENTATION IN FINANCIAL STATEMENTS OF TTRANSACTIONS AMD EVENTS SHOULD BE GOVERNED BY THEIR SUBSTANCE AND NOT MERELY BY THE LEGAL FORM.

e.g. IN CASE OF FINANCE LEASE TRANSACTIONS, INCOME TAX ACT, 1961 ALLOWS THE LESSOR TO CLAIM DEPRECIATION SONCE THE LESSOR IS THE LEGAL OWNER. HOWEVER, AS 19 REQUIRES THE LESSEE SHOULD CAPITALISE THE ASSET AS , IN SUBSTANCE , THE LESSEE IS THE REAL OWNER. THUS IN INCOME TAX WE GO BY THE LEGAL FORM AS FAR AS THIS PARTICULAR EXAMPLE IS CONCERNED, BUT IN ACCOUNTING IT IS THE SUBSTANCE THAT MATTERS.
6. ANSWER GIVEN BY GAYATRI IS RIGHT REGARDING AMORTISATION

ALL THE BEST.

Proviso - means exception to something.. when ever you will go through any act  the word proviso will be used there...

and rest are answered.....correctly.... 

Agree with Mr.kalpesh and Ms.Gayatri

 https://www.caclubindia.com/forum/important-suggestions-for-pcc-and-ipcc-students-for-law-eth-86269.asp

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details