Doubts in Accounts
An arrangement is a misfortune or cost that will happen later on, yet we don't know precisely how much or when the misfortune/cost will happen. Typically a business chooses (in view of past records) that they expect a specific rate of their account holders (receivables) not to pay them one year from now. Suppose it's 5%. On the off chance that their account holders come to 100,000, then they anticipate that 5,000 will go "awful," and the genuine (net) indebted individuals in their records will be 95,000 (100,000 - 5,000). The arrangement for dubious obligations or awful obligations is diverse to suspicious obligations or terrible obligations. Far fetched obligations or awful obligations is a cost and has as of now happened. The arrangement is a future misfortune. A future misfortune that must be recorded when it turns out to probably happen. This future misfortune resembles owing somebody. Kind of. So it is a risk. Be that as it may, an extraordinary sort of risk. As such, dubious obligations or awful obligations have as of now happened - the obligation is terrible right at this point. For instance, Joe Shmoe (indebted person) owed you 500 and he just disclosed to you he is petitioning for chapter 11 and can't pay anything. So you record the misfortune (cost account) called dicey obligations or awful obligations of 500. The arrangement, then again, is for obligations that will happen - yet later on. The obligations are not terrible yet, but rather we are certain they will be awful. It is a gauge of terrible obligations later on.
MR.SABA Modification in the Syllabus of Final Paper 1: Financial Reporting and materialness of the same for the expected CA Examinations – (30-05-2015) The theme of "Outline of International Accounting Standards (IAS)/International Financial Reporting Standards (IFRS), Interpretations by International Financial Reporting Interpretation Committee (IFRIC), Significant contrasts versus Indian Accounting Standards; Understanding of US GAAPs, Applications of IFRS and US" would be barred from the syllabus of Final Paper 1 : Financial Reporting and the same would not be pertinent from November, 2015 Examination. for more news visit our site http://caknowledge.in/ca-last records most recent notes-corrections/
MR.CHARAN Yes it is conceivable to peruse both gatherings in 3 months in the event that you can do diligent work day by day 14hours required and absence of rest will impacts your wellbeing So my recommendation is get ready group1 well and qualify it and keeping in mind that doing articleship compose aggregate 2 All the best for your future
Sir, i have cleared CA Intermediate | CA IPCC second gathering in may 2015 exam . My article deliver has been additionally finished. Would i be able to sit in nov 2015 exam plz sir help me
Proposed profit is a conforming occasion or non modifying. In PM its composed that now its conforming occasion.
According to Revised Schedule VI, proposed profit is a non-changing occasion, i.e it must be revealed simply in the notes to accounts. Yet, according to AS-4, it happens to be a changing occasion. According to Revised Schedule VI, proposed profit has no particular should be appeared under the head arrangements, rather a revelation is required independently as a note. Be that as it may, according to AS-4, proposed profit needs conformity, if proposed or proclaimed after B/s date yet before the endorsement of FS. As it was said in the general guidelines of RS VI, necessities of AS will beat RS VI. Henceforth, proposed profits should be given according to AS-4. You may see it in one point as proposed profit is not speaking to the present commitment in b/s. Trust this makes a difference.
Why is arrangement for indebted individuals is an obligation ? thanx ahead of time