π’ Session Alert with Kuldeep Sir!
π― *Got doubts? Letβs clear them together!*
π Date: 18th April
β° Time: 5:00 PM
π Join Here
π¬ Have a question in mind?
π Fill this form & get your doubts answered: Submit Your Doubt
Donβt miss this interactive session!
π― *Got doubts? Letβs clear them together!*
π Date: 18th April
β° Time: 5:00 PM
π Join Here
π¬ Have a question in mind?
π Fill this form & get your doubts answered: Submit Your Doubt
Donβt miss this interactive session!
π Accrual Concept β Short Note (CA Intermediate)
The Accrual Concept is a fundamental accounting principle that states:
πΉ Revenues and expenses should be recognized in the period in which they are earned or incurred, not when cash is received or paid.
π Key Aspects:
- Income is recorded when earned, regardless of actual cash receipt.
- Expenses are recorded when incurred, not when paid.
- Ensures that financial statements reflect the true financial position and performance of an entity.
π Example:
If a company sells goods in March but receives payment in April, the revenue is recorded in March (the month of sale).
β Why it Matters:
- Accrual accounting provides a more accurate picture of an entity's financial activities.
- It is mandatory under AS & Ind AS for most business enterprises.
The Accrual Concept is a fundamental accounting principle that states:
πΉ Revenues and expenses should be recognized in the period in which they are earned or incurred, not when cash is received or paid.
π Key Aspects:
- Income is recorded when earned, regardless of actual cash receipt.
- Expenses are recorded when incurred, not when paid.
- Ensures that financial statements reflect the true financial position and performance of an entity.
π Example:
If a company sells goods in March but receives payment in April, the revenue is recorded in March (the month of sale).
β Why it Matters:
- Accrual accounting provides a more accurate picture of an entity's financial activities.
- It is mandatory under AS & Ind AS for most business enterprises.
π CA Inter May 2025 Aspirants!
Ready to conquer Corporate & Other Laws? πΌπ₯
Join us for a power-packed Marathon Session β your one-stop revision before the big day!
ποΈ 19th April | 4 PM
ποΈ 20th April | 12 PM
π Live on CA Intermediate by PW
β All concepts, all sections β crisp and exam-oriented!
πͺ Donβt miss this golden opportunity to level up your prep!
Ready to conquer Corporate & Other Laws? πΌπ₯
Join us for a power-packed Marathon Session β your one-stop revision before the big day!
ποΈ 19th April | 4 PM
ποΈ 20th April | 12 PM
π Live on CA Intermediate by PW
β All concepts, all sections β crisp and exam-oriented!
πͺ Donβt miss this golden opportunity to level up your prep!
οΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉ
β§'*Advanced accounting Topper's Answer Writing Sheet*'β§
90+ Marks π©β‘πͺ
Watch Nowπ₯ - Click Here
πJoin us for daily updates
πJoin our discussion group
------------------------------------------------------------
β§'*Advanced accounting Topper's Answer Writing Sheet*'β§
90+ Marks π©β‘πͺ
Watch Nowπ₯ - Click Here
πJoin us for daily updates
πJoin our discussion group
------------------------------------------------------------
Q1. Which of the following is NOT true in the context of AS 10 (Property, Plant and Equipment)?
Anonymous Quiz
42%
A) Revaluation reserve can be transferred directly to general reserve.
25%
B) Component accounting is not mandatory under AS 10.
16%
C) Costs directly attributable to bringing the asset to the location and condition for use are capit
16%
D) Dismantling cost is included in the cost of the asset.
Q2. A company wants to alter its Articles of Association. The alteration will be effective only if:
Anonymous Quiz
43%
A) It is filed with the Registrar within 30 days.
21%
B) It is passed by an ordinary resolution.
22%
C) It does not violate any provisions of the Memorandum of Association.
14%
D) It is approved by the Board of Directors.
οΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉ
β§'*Corporate and Other Laws: Corporate Laws Part -1 | Marathon*'β§
Super Revision Marathon π©β‘πͺ
Watch Live Nowπ₯ - Click Here
πJoin us for daily updates
πJoin our discussion group
------------------------------------------------------------
β§'*Corporate and Other Laws: Corporate Laws Part -1 | Marathon*'β§
Super Revision Marathon π©β‘πͺ
Watch Live Nowπ₯ - Click Here
πJoin us for daily updates
πJoin our discussion group
------------------------------------------------------------
Q3. If the selling price per unit is βΉ100, variable cost per unit is βΉ60, and fixed costs are βΉ40,000, how many units must be sold to earn a profit of βΉ20,000?
Anonymous Quiz
12%
A) 1,000 units
62%
B) 1,500 units
21%
C) 2,000 units
5%
D) 3,000 units
Q4. A resident individual receives a gift of βΉ60,000 in cash from a friend and a painting worth βΉ80,000 from another friend during the previous year. What is the amount taxable under the head "Income from Other Sources"?
Anonymous Quiz
9%
A) βΉ0
18%
B) βΉ60,000
10%
C) βΉ80,000
63%
D) βΉ1,40,000
Hello, Students! π *You're invited!* π
For the grand launch of the *PW SuperClass Centre*β*Patna*! π
π Date: April 20th, 2025
π Venue: Darbari Govind Complex, 1st Floor, West Boring Road, Canal Rd., Patna β 800001
Join us for an unforgettable day with:
β¨ Faculty Interactions | πA peek into the learning space | π Big *surprises* |
π *Free Refreshments* | π€ Chance to meet *Nitin Goel Sir* & *Much More*β¦β¦
π UP TO *100% Scholarship* + *π Demo Classes Are Available*
Launch Offer: *UP TO 50% Off*π₯³
π₯ Limited seats βDonβt miss out!
π Fill the form now π
https://forms.gle/6cJAH5hy9dTZaSw1A
For the grand launch of the *PW SuperClass Centre*β*Patna*! π
π Date: April 20th, 2025
π Venue: Darbari Govind Complex, 1st Floor, West Boring Road, Canal Rd., Patna β 800001
Join us for an unforgettable day with:
β¨ Faculty Interactions | πA peek into the learning space | π Big *surprises* |
π *Free Refreshments* | π€ Chance to meet *Nitin Goel Sir* & *Much More*β¦β¦
π UP TO *100% Scholarship* + *π Demo Classes Are Available*
Launch Offer: *UP TO 50% Off*π₯³
π₯ Limited seats βDonβt miss out!
π Fill the form now π
https://forms.gle/6cJAH5hy9dTZaSw1A
οΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉ
β§'*Corporate and Other Laws: Corporate Laws Part -2 | Marathon*'β§
Super Revision Marathon π©β‘πͺ
Watch Live Nowπ₯ - Click Here
πJoin us for daily updates
πJoin our discussion group
------------------------------------------------------------
β§'*Corporate and Other Laws: Corporate Laws Part -2 | Marathon*'β§
Super Revision Marathon π©β‘πͺ
Watch Live Nowπ₯ - Click Here
πJoin us for daily updates
πJoin our discussion group
------------------------------------------------------------
οΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉ
β§'*Income Tax And GST Topper's Answer Writing Sheet*'β§
Answer Writing Sheet π©β‘πͺ
Watch Nowπ₯ - Click Here
πJoin us for daily updates
πJoin our discussion group
------------------------------------------------------------
β§'*Income Tax And GST Topper's Answer Writing Sheet*'β§
Answer Writing Sheet π©β‘πͺ
Watch Nowπ₯ - Click Here
πJoin us for daily updates
πJoin our discussion group
------------------------------------------------------------
πYour Key To Cracking
πThe CA Final May 2025 Exam
π₯ Super Revision Marathon Playlist!!
Book Your Seat Now!! ππ» https://www.youtube.com/watch?v=VyEKRGJ1EBA
πThe CA Final May 2025 Exam
π₯ Super Revision Marathon Playlist!!
Book Your Seat Now!! ππ» https://www.youtube.com/watch?v=VyEKRGJ1EBA
οΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉοΉ
β§'*Tricky Adjustment Series Launch π₯| Know Complete Details*'β§
Watch Live Now - Click Here
Join us for Daily Updates
------------------------------------------------------------
β§'*Tricky Adjustment Series Launch π₯| Know Complete Details*'β§
Watch Live Now - Click Here
Join us for Daily Updates
------------------------------------------------------------
π AS 10 β Property, Plant and Equipment (PPE) β Summary Note
Definition:
Property, Plant and Equipment are tangible items:
β Held for use in production/supply of goods or services, for rental, or for administrative purposes.
β Expected to be used during more than one period.
---
Key Points:
πΉ Initial Recognition:
- Recognized when:
- Future economic benefits are probable.
- Cost can be reliably measured.
πΉ Cost Includes:
- Purchase price (net of discounts)
- Directly attributable costs (e.g., site prep, delivery, installation)
- Initial estimate of dismantling/restoring cost (if applicable)
πΉ Subsequent Measurement:
- Cost Model: PPE carried at cost less accumulated depreciation and impairment.
- Revaluation Model: Carried at fair value at date of revaluation less depreciation.
πΉ Depreciation:
- Systematic allocation of depreciable amount over useful life.
- Reviewed annually and revised if necessary.
πΉ De-recognition:
- On disposal or when no future economic benefits are expected.
- Gain/loss = Sale proceeds β Carrying amount (goes to P&L)
---
π Tip for Exam:
Remember journal entries for purchase, depreciation, revaluation, and disposal. Practice numerical questions from past exams for better understanding.
πJoin us for daily updates
πJoin our discussion group
Definition:
Property, Plant and Equipment are tangible items:
β Held for use in production/supply of goods or services, for rental, or for administrative purposes.
β Expected to be used during more than one period.
---
Key Points:
πΉ Initial Recognition:
- Recognized when:
- Future economic benefits are probable.
- Cost can be reliably measured.
πΉ Cost Includes:
- Purchase price (net of discounts)
- Directly attributable costs (e.g., site prep, delivery, installation)
- Initial estimate of dismantling/restoring cost (if applicable)
πΉ Subsequent Measurement:
- Cost Model: PPE carried at cost less accumulated depreciation and impairment.
- Revaluation Model: Carried at fair value at date of revaluation less depreciation.
πΉ Depreciation:
- Systematic allocation of depreciable amount over useful life.
- Reviewed annually and revised if necessary.
πΉ De-recognition:
- On disposal or when no future economic benefits are expected.
- Gain/loss = Sale proceeds β Carrying amount (goes to P&L)
---
π Tip for Exam:
Remember journal entries for purchase, depreciation, revaluation, and disposal. Practice numerical questions from past exams for better understanding.
πJoin us for daily updates
πJoin our discussion group