Corrigendum to Final Paper 1: Financial Reporting Suggested Answers - November, 2014. - (15-05-2015)
Share this page:
In answer to Question 1(a) of Final Paper 1: Financial Reporting ‘Suggested Answers’ of November, 2014 given at page 2, the ‘provision for doubtful debts’ should be treated as a ‘timing difference’ instead of ‘permanent difference’, which will lead to creation of deferred tax asset by Rs. 19,005. Accordingly, the total deferred tax asset in the answer will be Rs. 2,37,230 instead of Rs. 2,18,225.
The above correction has been incorporated in the Paper 1 : Financial Reporting Suggested Answers of November, 2014 hosted on the BoS Knowledge Portal at ICAI website.
Copyright 2019 All rights reserved to the ICAI. No part of the contents available in any ICAI publication may be reproduced, stored in a retrieval system, or transmitted, in any form, or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior permission, in writing, from the Institute.