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We are looking for passionate and skilled people to join our team. If you are ready to take your career to the next level, Please send your resume to resume@deducetech.com #deduce #Bangalore #hiring
Top 5 Advanced Questions on Ind AS 41 for Big 4 CA Interviews #big4interviewquestions Part-115 1. How are biological assets measured under Ind AS 41? Answer: Biological assets are measured at fair value less costs to sell, unless fair value cannot be reliably measured. Gains or losses from changes in fair value are recognized in profit or loss. Initial recognition is based on cost if fair value cannot be determined. 2. How do you account for government grants related to biological assets under Ind AS 41? Answer: Government grants related to biological assets measured at fair value are recognized in profit or loss when the grant becomes receivable. For biological assets measured at cost, grants are recognized as income over the periods necessary to match them with the related costs. 3. What is the treatment of agricultural produce at the point of harvest under Ind AS 41? Answer: Agricultural produce is measured at fair value less costs to sell at the point of harvest. Any changes in the fair value of produce up to the point of harvest are recognized in profit or loss. 4. How do you handle changes in fair value when the market for a biological asset is not active? Answer: In the absence of an active market, fair value can be determined using the most reliable information available, such as the present value of expected net cash flows from the asset, discounted at a current market rate. 5. How are the risks associated with biological transformation accounted for under Ind AS 41? Answer: Biological transformation involves processes such as growth, degeneration, or production. Changes resulting from biological transformation are recognized in the financial statements through changes in the fair value of the biological asset. #Big4Interviews #IndAS41 #FinancialReporting #CAFinal #InterviewPreparation #AgricultureAccounting #AccountingStandards #Pankajposts
Top 5 Advanced Questions on Ind AS 40 for Big 4 CA Interviews #Big4interviewquestions Part-114 1. How is Investment Property initially recognized under Ind AS 40? Answer: Investment property is initially recognized at cost, which includes purchase price and any directly attributable costs (e.g., legal fees, property transfer taxes). If the asset is acquired in exchange for another asset, its cost is the fair value of the asset given up, unless the exchange lacks commercial substance. 2. What is the accounting treatment for subsequent measurement of investment property? Answer: Ind AS 40 allows two models for subsequent measurement: the Cost Model and the Fair Value Model. Under the cost model, investment property is carried at cost less accumulated depreciation and impairment losses. Under the fair value model, investment property is remeasured at fair value, with changes recognized in profit or loss. 3. Can an investment property be transferred to PPE or vice versa under Ind AS 40? Answer: Yes, an investment property can be transferred to or from PPE when there is a change in use. For example, if the property is now owner-occupied, it must be transferred to PPE. Conversely, if owner-occupied property becomes rented out for investment purposes, it is transferred to investment property. The reclassification occurs at the property's carrying amount. 4. How do you distinguish between investment property and owner-occupied property? Answer: The primary distinction is the use of the property. Investment property is held to earn rentals or for capital appreciation, rather than for use in the production or supply of goods or services, or for administrative purposes. Owner-occupied property, on the other hand, is used by the entity for business operations. 5. What disclosures are required under Ind AS 40? Answer: Key disclosures include the methods and assumptions applied in determining fair value, whether the property is measured using the cost or fair value model, and any restrictions on the realizability of the property or remittance of income. Also, if the fair value model is used, the entity must disclose a reconciliation of the carrying amount from the beginning to the end of the period. #Big4Interviews #IndAS40 #InvestmentProperty #CAFinal #InterviewPreparation #AccountingStandards #Finance #Pankajposts
Top 5 Advanced Questions on Ind AS 38 for Big 4 CA Interviews #big4interviewquestions Part-113 1. How is the cost of an internally generated intangible asset determined under Ind AS 38? Answer: The cost of an internally generated intangible asset includes all directly attributable costs necessary to create, produce, and prepare the asset for its intended use, such as salaries, materials, and legal fees. Costs related to research must be expensed, while development costs can be capitalized if specific criteria are met (e.g., technical feasibility, intention to complete). 2. Explain how an intangible asset with an indefinite useful life is treated differently from one with a finite useful life. Answer: Intangible assets with finite useful lives are amortized over their useful life, while those with indefinite useful lives are not amortized but are tested for impairment annually or more frequently if indicators of impairment exist. The useful life is reassessed annually. 3. What are the criteria for recognizing an intangible asset acquired in a business combination under Ind AS 38? Answer: An intangible asset acquired in a business combination must be recognized if it is identifiable (either separable or arising from contractual or legal rights) and its fair value can be measured reliably. The asset is recognized at fair value as of the acquisition date. 4. How does Ind AS 38 address the issue of impairment for intangible assets? Answer: Impairment testing for intangible assets is required when there is an indication that the asset might be impaired. For intangible assets with indefinite useful lives or those not yet available for use, annual impairment testing is mandatory. The recoverable amount is compared with the carrying amount, and any excess of carrying value over recoverable amount is recognized as an impairment loss. 5. How do you account for subsequent expenditure on an intangible asset under Ind AS 38? Answer: Subsequent expenditure on an intangible asset is capitalized only if it enhances the future economic benefits from the asset beyond its originally assessed performance. If not, such expenditure is expensed as incurred. Examples of capitalizable expenditure include costs of upgrading software for additional functionality. #IndAS38 #Big4Interviews #CAFinal #IntangibleAssets #FinancialReporting #AccountingStandards #InterviewPreparation #Pankajposts
Top 5 Advanced Questions on Ind AS 37 for Big 4 CA Interviews #big4interviewquestions Part-112 1. How do you differentiate between a provision and a contingent liability under Ind AS 37? Answer: A provision is recognized when a present obligation from a past event is likely to result in an outflow of resources, and the amount can be reliably estimated. A contingent liability, on the other hand, is a possible obligation dependent on future events or a present obligation where the outflow is not probable or cannot be reliably measured. Contingent liabilities are disclosed, not recognized. 2. When should restructuring provisions be recognized according to Ind AS 37? Answer: A restructuring provision is recognized only when a detailed formal plan for the restructuring has been established and has either been communicated to those affected by it or the restructuring has started, creating a valid expectation among those affected. 3. How do you account for changes in estimates of provisions over time? Answer: Adjustments to provisions due to changes in estimates (e.g., timing or amount of the outflow) should be reflected in the carrying amount of the provision and recognized in the period of change. If the change relates to the current period, it is recognized in profit or loss; if it affects future periods, the adjustment is accounted for prospectively. 4. Explain how the discounting of provisions is treated under Ind AS 37. Answer: Provisions should be measured at the present value of the expected expenditures required to settle the obligation. Discounting is required when the time value of money is material. The increase in provision due to the passage of time is recognized as an interest expense (unwinding of the discount). 5. How are contingent assets treated under Ind AS 37? Answer: Contingent assets are not recognized in the financial statements but are disclosed if the inflow of economic benefits is probable. Once the realization of income is virtually certain, the asset is no longer contingent and should be recognized in the financial statements. #IndAS37 #Big4Interviews #CAFinal #TechnicalInterview #Provisions #AccountingStandards #FinanceInterviews
Top 5 Advanced Questions on Ind AS 36 for Big 4 CA Interviews #big4interviewquestions Part-111 1. How do you determine the recoverable amount of an asset or cash-generating unit (CGU) under Ind AS 36? Answer: The recoverable amount is the higher of an asset’s or CGU’s fair value less costs of disposal and its value in use. Fair value less costs of disposal is the price obtainable in an arm's-length transaction, while value in use is the present value of future cash flows expected from the asset. 2. What is the significance of discount rate selection in impairment testing under Ind AS 36? Answer: The discount rate used in impairment testing must reflect the time value of money and risks specific to the asset or CGU. It is typically the pre-tax rate that would be applied to future cash flows in a current market transaction. 3. When do you recognize an impairment loss under Ind AS 36, and how is it allocated within a CGU? Answer: An impairment loss is recognized when the carrying amount of an asset or CGU exceeds its recoverable amount. For a CGU, the impairment loss is allocated first to goodwill, if applicable, and then to other assets on a pro-rata basis based on their carrying amounts. 4. Explain the reversal of impairment losses as per Ind AS 36. Under what circumstances is it allowed? Answer: Impairment losses, other than those related to goodwill, can be reversed if there is an indication that the loss no longer exists or has decreased, and the revised recoverable amount is higher. However, the new carrying amount should not exceed what it would have been if the impairment had not been recognized. 5. How do you perform impairment testing on intangible assets with indefinite useful lives? Answer: Indefinite-life intangible assets are tested for impairment annually, regardless of whether there is an indication of impairment. These assets do not amortize but are compared to their recoverable amount annually to determine if impairment has occurred. #Big4Interviews #IndAS36 #CAFinal #FinancialReporting #Impairment #InterviewPreparation #AccountingStandards #CACommunity
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Senior Vice President - Internal Audit | CAE at Delhivery | IIMA (SMP09) | Internal Audit | SoX | SQL | Data Analytics | Risk Management | SAP | CA, CS, CIA | Big Data Enthusiast | Ex-HCL | Ex-Valvoline
Are you a CA with 4-5 years of internal audit experience and love to analyse big data, understand complex process and solve complex problems then we have an opening for you in Delhivery at Gurgaon. Internal Audit team is a newly formed team with high performing bright minds and strives to make a significant impact on the organisation. If you really believe that you meet above criteria and the job/ team narrative excites you then get in touch with me or Devika Goel
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Thanks to ppl who applied for this position, we have closed the google form currently. We will shortlist CVs on the basis of responses received and will reach out to ppl who will get shortlisted. Hiring for Senior Manager I - FP&A role based out of Bengaluru https://lnkd.in/gJ-NeeMv Role: - Working Capital Management: Optimize working capital, including inventory, accounts receivable, and accounts payable. Analyze working capital trends, identify areas for improvement, and recommend actions. - Cash Flow Forecasting: Develop cash flow forecasts based on monthly/quarterly plans including operating expenses, capital expenditures, and cash flow from operations. Monitor actual cash flow performance, identify variances, and provide insights to senior management on cash flow management. - Financial Modeling: Develop financial models to simulate different scenarios and assess their impact on working capital and cash flow. - Reporting and Presentations: Prepare regular financial reports and presentations on working capital metrics and cash flow for senior management and other stakeholders. What We're Looking For: - CA/MBA finance with 1 to 3 year experience focusing on working capital and cash flow management in an ecommerce or retail environment. - Excellent analytical skills with the ability to interpret complex financial data and provide actionable insights. - Strong written and verbal communication skills, including the ability to present financial information to non-financial stakeholders. Sana Sayed Saloni Shivangi Shreya Kalal
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Kotak Education Foundation is hiring an Assistant Manager - Business Excellence. In this role, you’ll audit and enhance processes across our interventions, manage risk assessments, and ensure compliance. You'll collaborate with various teams, analyze data, and develop audit plans to optimize efficiency and effectiveness. We're looking for a candidate with 2 years of experience in Internal Audit, Business Excellence, Risk Control, or Process Re-engineering, with a background in Finance (Chartered Accountant/MBA). Strong analytical will be essential to succeed in this role. If you're passionate about process improvement and making an impact, we’d love to hear from you. Click on the link below to apply: https://lnkd.in/d8N3Ehg2 For more details, check out the full job description here: https://lnkd.in/dRecGdsi Ganesh Raja | Jayasree Ramesh | Parag Ganu | Vaishali Jambotkar #HiringNow #BusinessExcellence #ProcessImprovement #FinanceJobs #Audit #RiskManagement #CareerOpportunities #KotakEducationFoundation #JoinUs #BusinessExcellenceJobs #CA #MBA
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opening for Industrial trainee ====== Grasim Industries Ltd.(Aditya Birla Group) is looking for Industrial trainees for finance Team (Taxation) Location:- Mumbai If you are interested, then please share your CV to himanshu.agarwal@adityabirla.com With following details:- Full name Email id Mob no Current organization
Top 5 Advanced Questions on Ind AS 34 for Big 4 CA Interviews #big4interviewquestions Part-110 1. What is the primary objective of interim financial reporting under Ind AS 34? Answer: The objective of interim financial reporting is to provide timely and reliable financial information for decision-making, focusing on significant events and transactions that have occurred since the last annual reporting period. Ind AS 34 promotes consistency and comparability with annual financial statements. 2. How should an entity apply accounting policies in interim reports if there are changes from the previous annual reporting period? Answer: Entities are required to apply the same accounting policies in interim reports as in the annual financial statements unless a new policy is adopted following a change in standards or interpretation. Changes in accounting policies should be applied retrospectively, adjusting comparatives as required. 3. How is seasonality reflected in interim financial reporting under Ind AS 34? Answer: If an entity's business is seasonal, it must disclose the financial impact of such seasonality in its interim financial statements. Users should be informed about any seasonal fluctuations and their impact on financial performance for the period. 4. How are tax expenses calculated in interim financial reports according to Ind AS 34? Answer: Tax expenses in interim reports are calculated using an estimated annual effective tax rate. This rate is applied to the year-to-date income, recognizing the proportional tax charge that would be applicable to the income reported during the interim period. 5. What is the treatment for materiality in interim financial statements under Ind AS 34? Answer: Materiality in interim financial statements is assessed in relation to the interim period data, not annual results. This means an item may be material in the context of interim financial results even if it would not be considered material on an annual basis. #IndAS34 #Big4Interviews #CAFinal #FinancialReporting #AccountingStandards #InterimFinancialReporting #Pankajposts
