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Change of PATTERN OF ASSESSMENT FROM MAY 2019 EXAMINATION

ICAI has already notified that from May 2019 examinations, pattern of assessment is going to be changed, as of till now, whole pattern was...

Friday, 5 October 2018

MCQ-F101-6 - Answer Key

MCQ-F101-6 - Answer Key

Co. X is required to adopt IndAS from FY 2016-17, since net worth is more than 500 crore

After acquisition, Co. Y will also prepare financial statements as per IndAS from 2016-17 onwards as because acquisition held in 2016-17.

Moreover, as far as quarterly results are concerned, Co. Y has become associate as on 31-10-2016, hence Y will prepare financial statements form the quarter ended Dec 2016 onwards.

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