Reference: Sec 164(2) of Companies Act, 2013 and Qu 1(a)(iii) of MTP Mar 2019 Doubt Text: The ICAI says that the appointment of Mr. Khurana is valid till January 2019. The company didn’t file the financial statements for the financial year 2017-2018 ...
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Reference: Sec 161(2) of Companies Act, 2013 and Qu 1(a)(ii) of MTP March 2019 Doubt Text: What if the Original Director returns to India and leaves the next day. The law is silent, but ICAI became the SC Judge here and said ...
Reference: Section 115 of Companies Act, 2013 and Rule 23 of Companies (Management and Administration) Rules, 2014 Doubt Text: The requirement for paid-up capital is not exceeding five lakh rupees (in Section) but not less than five lakh rupees (in Rule). Now, which one ...
Reference: Section 149(1) of Companies Act, 2013 Doubt Text: Can OPC Member appoint more than 15 Directors in his company.
Reference: Section 165 of Companies Act, 2013 Doubt Text: This section says maximum Directorship including Alternate Dr, but does it also include Additional Dr / Nominee Dr / Independent Dr / Managing Dr / Whole Time Dr / Dr appointed in Caual ...
Reference 1: CA Final FR New SM TYK#3 (Pg#2.141) Reference 2: https://forum.sseiqforum.com/question/cash-flow-statement-18/ Doubt Text: It says “we’ll add the Exchange Diff Rs 5,00,000 to the opening balance of Cash & Cash Equivalents in Notes to the Accounts.” That means the Cash Flow Statement will ...
Reference: CA Final FR New SM Eg#3 (Pg#2.121) Doubt Text: The gain of Rs 50,000 due to a fall in the exchange rate. What do we call it – Non-Cash Item or Unrealized Gain or BOTH. And whatever it is, it should ...
Reference: May 2019 Old Syllabus Examination Question Doubt Text: How can we arrange a swap here. Because if both the parties borrow as per their respective requirements, their total cost would be (L+4.75), and if they borrow against their will, it ...
Reference: ICAI SM (New) Qu#37 (Pg#9.53) and Qu#41 (Pg#9.55) Doubt Text: In option c (Future Hedging), we had to convert Euros into Pounds. For this, we had to use 6 months FW Rate of Pound. As you can see in the ...
Reference: ICAI Study Mat (New) Page #9.43 Doubt Text: The question said Can$ spot rates (i) declines 2%, (ii) gains 4%. But the base currency is Pound. So, aren’t the rates calculated in the question are wrong?