Question
ICDS IV primarily deals with which aspect of financial
reporting.Solution
ICDS IV, titled "Revenue Recognition," primarily deals with the recognition, measurement, and disclosure of revenue in financial statements. It provides guidance on how to account for various types of revenue earned by an entity.
Champion Ltd. define following data for calculating Current Ratio:
Current Assets Rs.20,00,000 ,
Inventories Rs.10,00,000 ,
Working Capital Rs.12, 00,000.
A company has the following balances on its Balance Sheet:
• Cash & Bank Balances: ₹2 crore
• Trade Receivables: ₹4 crore
�...
An entity purchases 1,000 shares of X Ltd. at ₹120 per share. Brokerage and taxes amount to ₹10,000. At year-end, the fair market value of the inve...
Which statement is incorrect in the context of comparative financial analysis?
The following data is provided for XYZ Ltd:
• Current Assets: ₹15,00,000
• Inventory: ₹5,00,000
• Current Liabilities: �...
Annual sales of a company are ₹36,00,000, out of which 25% are cash sales. The balance represents credit sales. The company’s Debtors at year-end ar...
Refer the following summarized Balance Sheet of Roy Ltd. as on 31‐3‐2023:
What does the Basic Defense Interval ratio measure?
If the MOS = 20,000 units and PV ratio is 60%. Calculate profit if revenue per unit is 4.
Ratio of net profit before interest and tax to sales is:
