Embedded Files
1. Recognition and Measurement
1-1 Introduction [O]
1-1 Introduction [O]
1-2 Recognition [O]
1-2 Recognition [O]
1-3 Measurement at Recognition [O]
1-3 Measurement at Recognition [O]
1-4 Q&A Alex Limited [O]
1-4 Q&A Alex Limited [O]
1-5 Q&A Exchange Scenarios [R]
1-5 Q&A Exchange Scenarios [R]
2. Depreciation
2-1 Depreciation Overview [O]
2-1 Depreciation Overview [O]
Query: sir major spare parts ki depreciation ho gi?
Response: If they are available for use, then yes. If they are not in a condition or location as being available for use, then not.
2-2 Q&A Delta (ICAP Spring 2016) [O]
2-2 Q&A Delta (ICAP Spring 2016) [O]
Query: sir what is settlement discount?
Response: Prompt payment discounts (also known as settlement or cash discounts) are offered to credit customers to encourage prompt payment of their account. Our benefit = getting cash earlier to use in our business. Customer's benefit = have to pay less due to this discount.
Query: settlement disc net amount pe q lia?
Response: In the absence of specific information, it is usual assumption that settlement discount% relates to amount payable/receivable.
3. Derecognition
3-1 Derecognition with examples [I]
3-1 Derecognition with examples [I]
3-2 Q&A Akmal Brothers (ICAP Autumn 2018) [R]
3-2 Q&A Akmal Brothers (ICAP Autumn 2018) [R]
4. Measurement after recognition
4-1 Revaluation Concept [I]
4-1 Revaluation Concept [I]
4-2 Revaluation Accounting [I]
4-2 Revaluation Accounting [I]
4-3 Realisation of Revaluation Surplus [I]
4-3 Realisation of Revaluation Surplus [I]
Query: Sir 1 bat confuse kr ri hai
Agr date year end ka given h to ham pehly us par hamesha dep charg krngy old data ko use kr k and then revelation krngy and revaluation k bad is sal koi dep ni charge krngy and na e koi surplus transfer krngy Jo is s sal aya h revaluation par , right?
Agr m question samjhaany m nakaam raha to kindly ap question m sequence of steps bta dain k Konsa Kam krna h given data waly sal k end m
Response: Yes your understanding about year-end revaluation is correct i.e.
1. Depreciation (on pre-revaluation amount)
2. Revaluation
3. No incremental depreciation
In case of revaluation at year-start:
1. Revaluation
2. Depreciation (on revalued amount)
3. Incremental depreciation (in case of surplus)
4-4 Q&A Ali Limited [X]
4-4 Q&A Ali Limited [X]
4-5 Q&A Shahzad Textile Mills Limited (ICAP Autumn 2014) [X]
4-5 Q&A Shahzad Textile Mills Limited (ICAP Autumn 2014) [X]
4-6 Q&A Rooney [O]
4-6 Q&A Rooney [O]
5. Disclosure
5-1 Disclosure [I]
5-1 Disclosure [I]
5-2 Q&A Abid Limited (ICAP Spring 2016) [O]
5-2 Q&A Abid Limited (ICAP Spring 2016) [O]
5-3 Q&A Games Limited [X]
5-3 Q&A Games Limited [X]
6. Comprehensive Examples
6-1 Q&A Rose Enterprises (ICAP Spring 2018) [O]
6-1 Q&A Rose Enterprises (ICAP Spring 2018) [O]
6-2 Q&A Exchange (ICAP Spring 2018) [I]
6-2 Q&A Exchange (ICAP Spring 2018) [I]
6-3 Q&A Kamran Enterprises (ICAP Autumn 2016) [R]
6-3 Q&A Kamran Enterprises (ICAP Autumn 2016) [R]
6-4 Q&A Alpha Enterprises (ICAP Autumn 2019) [I]
6-4 Q&A Alpha Enterprises (ICAP Autumn 2019) [I]
6-5 Q&A SK Limited (ICAP Spring 2018) [O]
6-5 Q&A SK Limited (ICAP Spring 2018) [O]
6-6 Q&A Omega Chemicals Limited (ICAP Spring 2015) [R]
6-6 Q&A Omega Chemicals Limited (ICAP Spring 2015) [R]
6-7 Q&A PQR Enterprises (ICAP Autumn 2015) [R]
6-7 Q&A PQR Enterprises (ICAP Autumn 2015) [R]
6-8 Q&A Piano Limited (ICAP Spring 2019) [I]
6-8 Q&A Piano Limited (ICAP Spring 2019) [I]
6-9 Sputnik Sea Limited (ICAP Spring 2021) [I]
6-9 Sputnik Sea Limited (ICAP Spring 2021) [I]
Query: Sir 2018 me body or Dry docking srif 9 months use hoi hay tu body ki life 25 thi ab remaining kife 24 year and 3 months hena ?
Response: Yes. However, if you intend to use "remaining useful life" for depreciation, also use "remaining carrying amount" for proper comparison. This calculation based on "Original depreciable amount" and "original useful life" is also correct here.
6-10 Q&A Abbas Limited [R]
6-10 Q&A Abbas Limited [R]
6-11 Q&A Sherdil Limited (ICAP Autumn 2017) [R]
6-11 Q&A Sherdil Limited (ICAP Autumn 2017) [R]
6-12 Q&A Tsuki Limited (ICAP Spring 2022) [R]
6-12 Q&A Tsuki Limited (ICAP Spring 2022) [R]
6-13 Q&A Harappa Industries Limited (ICAP Autumn 2020) [I]
6-13 Q&A Harappa Industries Limited (ICAP Autumn 2020) [I]
Query: sir question me government grant k 2-treatment btae gae hain lekin amount to ak hai then how we can deduct and also use this for r/f repayment
Response: Actual to be recorded: When grant was received (debit Bank credit Grant or Asset). According to IAS 23 para 18 "Expenditures are reduced by any progress payments received and grants received in connection with the asset". So expenditure used from running finance will be reduced by grant amount (not necessarily actually repaid the running finance, but if repaid entry will be (debit RF credit Bank).
Query: sir cost model me carrying amount find krte hve sirf 2020 ka r/s consider kia hai lekin revaluation to pehle b hvi then one year k difference ko le kr kese find hoi carrying value
Response: The closing balance of Revaluation Surplus does not represent one year or more years calculation. It just reflects the balance on year-end. The difference between carrying amount under cost model (on a specific date) and carrying amount under revaluation model (on same specific date) is revaluation surplus balance (on specific same date).
7. Objective Based Q&A
7-1 MCQs 1 to 10 [O]
7-1 MCQs 1 to 10 [O]
7-2 MCQs 11 to 20 [O]
7-2 MCQs 11 to 20 [O]
7-3 MCQs 21 to 34 [O]
7-3 MCQs 21 to 34 [O]
8. Extra Q&A
8-1 Q&A Adjustment Limited [X]
8-1 Q&A Adjustment Limited [X]
8-2 Q&A Hamza Limited [X]
8-2 Q&A Hamza Limited [X]
8-3 Q&A Shawez Limited [X]
8-3 Q&A Shawez Limited [X]
8-4 Q&A Sundry [X]
8-4 Q&A Sundry [X]
8-5 Ehtisham [X]
8-5 Ehtisham [X]
8-6 Glacier Limited [X]
8-6 Glacier Limited [X]
8-7 Q&A Indigo Limited [X]
8-7 Q&A Indigo Limited [X]
8-8 Q&A Carly [X]
8-8 Q&A Carly [X]
Query: sir. Aap ne depreciation main percentages kesay determine ki hain? Matlab W1 main 2% kahan se aaya hai aur W2 main 25% ?
Response:
For W1, straight line method is mentioned in question and life of 50 years is given. So, 100% / 50 years = 2% per year.
For W2, 25% reducing balance method is clearly mentioned in the question.
8-9 Q&A Fam [X]
8-9 Q&A Fam [X]
8-10 Q&A Theory (ICAP Spring 2017) [X]
8-10 Q&A Theory (ICAP Spring 2017) [X]
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