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Ipcc accounting doubt?

20 March 2013

1)the days of NPA?

2)pls solve,,,,,

packing credit o/s from food processors RS 60 againt which the bank holds securities worth RS 15....,40% of the above advane is covered by ECGC..the above advance has remained doubtful for more than 3 year...

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7 Replies

Ganeshbabu K (Audit and Tax Advisory) (48564 Points)
Replied 20 March 2013

loan outstanding is=rs.60

ecgc cover=40%

so value of risk adjusted assets=rs(60-15)*60%=45*60%=27rs

I recommend you to thorough with rtp and compilation of institute

however ipcc compilations not available you go with suggested answers of ipcc and compilation of pcc accounts,

thanks

Ganeshbabu

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Ganeshbabu K (Audit and Tax Advisory) (48564 Points)
Replied 20 March 2013

tAKE BELW LINK TO DOWNLOAD INSTITUTE PUBLICATIONS

https://www.icai.org/new_post.html?post_id=5720&c_id=314

HOWEVER I HAVE PUBLISED SOME FILE IS SHARE FILE SECTION IN CACLUB

PLEASE FIND RTP FOR MAY 2013THEM

/share_files/rtp-for-ca-ipcc-may-2013-exam-54702.asp#.UUnEDhwZ114

IT IS STRONGLY RECOMMENDED TO THOROUGH WITH RTP,SUGGESTED ANSWERS AND COMPILATIONS

RTP MUST FOR KNOWING LATEST UPDATES

CRR,SLR UPDATE WAS THERE I THINK PLEASE FIND RTP FOR THAT

LATEST CHANGES IN SUBJECT HAVE MORE WEIGHTAGE IN EXAM FOR SURE

Vaisakh Ayyappan Prakash(VAP) (student) (474 Points)
Replied 20 March 2013

ganesh babu i may be wrong but i think this is the solution

Amount outstanding (packing credit) 60

Less : Realisable value of securities 15

60-15 =45

Less : ECGC cover (40%) = 18

Balance (45-18) = 27

Required provision :

Provision for unsecured portion (100%) 27.0

Provision for secured portion (100%)* 15.0

42.0

jyothish kumar.g (no) (162 Points)
Replied 09 June 2013

Originally posted by : jyothish kumar.g

1)the days of NPA?

2)pls solve,,,,,

packing credit o/s from food processors RS 60 againt which the bank holds securities worth RS 15....,40% of the above advane is covered by ECGC..the above advance has remained doubtful for more than 3 year...

pls