Study material solution differs

326 views 3 replies
Sometimes , we find that the solutions provided by the institute's study material or practice manual differs from the solutions provided by any of the faculties in practical subjects like financial reporting. Which one should be followed then ??? Study material solution ? Please advice.
Replies (3)

Based on assumptions made for each question, the solution may change. Therefore, there can be multiple solutions to the same question. So whichever one you follow, remember to pen down the assumptions in the exam.

In Financial reporting some chapertes like valuation of goodwil & shares  or Some of the accounting Standards , there are questions which  are either incomplete or are drafted in such a way that can have different solutions. Thus, to solve them we are allowed to take RATIONAL assumptions.

NOTE : Assumptions should be based on concepts & should be relevant , always try not to assume any neumeric figures in exam like we canton assume tax rate to be 35 % if not given in question, rather it is better to avoid tax rate in the calcution, & most importantly as said by  Mr Iyer in above post , always pen down your assumptions  

Thanks to both of you. :-)


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register