Question
What is the purpose of the Automated Permanent Academic
Account Registry (APAAR) introduced by the central government for school children?Solution
The central government has begun the process of introducing a new unique identification for school children that will enable them to digitally store their academic achievements and credit scores. The Automated Permanent Academic Account Registry or APAAR, which will be linked to the students' Aadhar ID, has been envisaged as a universal mechanism for recording and retrieving data and documents related to students' progress throughout their academic journey. Through this unique ID, the students will be able to store everything from their exam results to add-on courses to their accomplishments in sports and co-curricular activities in Digilocker, the government's digital wallet, and use them in the future for higher education and employment. The initiative is part of an effort under the National Education Policy (NEP) to bring flexibility to the education system by allowing students to seamlessly move across institutes and disciplines. The government has already introduced APAAR IDs for college students to access the Academic Bank of Credits (ABC), an online repository of credit scores, and is now bringing it to the school level.
A foreign subsidiary reports its accounts in USD. On consolidation, the holding company translates the figures into INR. Which rate should be used for i...
An Indian exporter receives a payment of USD 50,000 when the exchange rate is ₹83/USD. At the year-end, the rate drops to ₹80/USD and the amount is ...
A company revalues its foreign currency receivable at the closing rate on balance sheet date. Under which Ind AS is this required?
It is essential to standardize the accounting principles and policies in order to ensure
An importer based in India has a large payment to make in EUR after 2 months. To reduce exchange rate risk, the firm buys a European Call Option with a ...
An Indian company receives a large export order payable in USD after 6 months. The management fears rupee appreciation in this period. To hedge the risk...
A firm in India has to pay €5 million in 3 months. They expect the rupee to depreciate against the euro. Which of the following hedging tools will bes...