CA Final Concepts bytes

Hello friends,
All the very best Conceptsbytians ❤️

Here I find out few points that you should consider for IBS🎯🎳

NEED NOT TO MUG UP.. JUST READ ONCE🎯

WE WILL WIN BCZ We attract Winning

🔑 If there is a question on Residential Status, don't solve in pell mell first ensure as to whether question ask for residential status as per Income Tax act or under FEMA.

🔑 Branch of Resident Indian company considered as resident under FEMA.

🔑 While solving for residential status of company under income tax Act ,bhulna nahi majority board meeting wala criteria after POEM.

🔑 if question is for porter's five forces model. Write concept only in 2 lines before writting analysis as per case study. In this case I recommend to read full case study. If this kind of easy and long analysis based questions are there... U may consider it to solve lastly.. but never leave. Bcz these are very scoring.
Even if you write a sentence under heading. Chances of getting marks is high.

🔑 Keep SA 540 , 402, 3402 , SQC 1 , SA 220 and 600 + 700 series type standards on Auditing in mind for analytical type questions.

🔑 Deemed to accrue or arise in India is important in calculating income. MCQ purpose. If any question is there always find for the country where income accrued.

🔑 Place of supply and time of supply might be important for MCQ purpose.

🔑 Don't forget to review formulas of AFM at last.

🔑 Search, seizure and investigation under income tax Act. ( When After sunrise before sunset concept not applicable)

🔑 SCPM models eg. On demand model... Subscription model

🔑 Start up unicorn at a valuation of $1 billions and may loose it's unicorn status later on if valuation reduces.

🔑 Calculation of depreciation and additional depreciation in case of amalgamation.

🔑 Reverse aquisition - Accounting Acquirer and Legal Acquirer.

🔑Pre- Post Merger EPS, Exchange Ratio and number of shares

🔑 Clauses of professional ethics and it's guidance note.

🔑 Bank and NBFC

🔑 Don't confuse between determination of Transaction price of SCPM and Transfer price of DT in case of Association Enterprises.

🔑 Zoo animals, Ocean Fishes and living organisms e.g. bacteria and viruses not covered under Ind AS 41 since not agriculture activities.

🔑 Foreign Assets impairment loss not recognised until rupees value not depreciated, even if impairment indicator exist in foreign currency.

🔑Deemed Export, Zero rated and Nil Rated Supply + custom Valuation BCD, CVD, ACD

🔑 Concept of Functional currency as per ind AS 21

🔑 Prohibited Transactions under FEMA and allowed Time limits for settlement + mode of payment

🔑 Min max number of directors

🔑 Inspection under companies act, income tax Act and GST act.

🔑 Perpetual debts are monetary items and considered as Equity since irredeemable.

🔑 Abandoned project expenses disallowed under income tax Act.

🔑 Keyman insurance policy and ESOPs

🔑 Goods not reached indian territorial waters... covered under negative list hence not taxable in India.

🔑1.125% insurance if cost not determinable under customs valuation

🔑 Calculating of Forward rates through IRP theory

🔑Calculation of Dividend, growth or price of share

🔑 Break even points under traditional and ABC costing

🔑 Calculation of NRV

🔑Small shareholders directors

🔑 back flushing under SCPM

🔑 Number of performance obligations as per Ind AS 115

🔑 Meaning of Control over investee

🔑 Call/ put options + ALM

🔑 foreign contribution under FCRA including allowances and prohibitions.

🔑 Attempt FULL marks paper.. what ever you could write an end just write... Something is better than nothing...

Don't leave blank.. every single mark matters 🎯🎯🎯

Friends,
Keep in mind if the paper is tough it will be tough for all.. and Every one faces same situation as you do.

Instead of being panic do start looking for plausible explanation. If it matches by any way u will get marks.

For more such important points stay tuned @conceptbytes

For any query u may ask @conceptsbytes

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1.88K viewsedited 05:17