IPCC Taxation Nov 2013 Download and Discussion Share your thoughts

@ ankush sharma. balance sheet total was 1135000.but how u got bod 100000. they clearly given current liabilities comprises of current liabilities in the ratio 2:1.then bod 150000.

@ tushar thakar dont worry they award marks even i too did the same like u. be positive hope for the best

Paper was very easy, but had a very bad time management, could complete only 80% :(

Still cant believe I completed Accounts (92 marks) but not tax (only 82 marks i wrote),

Gave so many notes for 5 marks sum of VAT and ST....feeling sad NOW

IS IT POSSIBLE TO SCORE 60+ BY ATTEMPTING ONLY 80 MARKS? ANYONE ?

@ tushar  thakar. inventory turnover ratio= cogs/ stock. u will get cogs. 25% on sales i.e 20% on cost. add cogs + profit u will get sales. by average collection period u will get debtors. 

Originally posted by : sukanya
	@ ankush sharma. balance sheet total was 1135000.but how u got bod 100000. they clearly given current liabilities comprises of current liabilities in the ratio 2:1.then bod 150000.

current liablities were 300000 and it will be divided in 2:1 so 300000/3*1=100000bod and 200000 cl

Originally posted by : sukanya
	@ tushar  thakar. inventory turnover ratio= cogs/ stock. u will get cogs. 25% on sales i.e 20% on cost. add cogs + profit u will get sales. by average collection period u will get debtors.

sukanya sorry but that is incorrect

if it is 25%on sales then it will be 33.333% on cost 1/3 to sale 1/4....... cost 1/4 to sale1/5........but if sale1/4 that is 25% to cost 1/3 that is 33.33%

@ ankush sharma a small doubt. as per u, cl=200000, bod = 100000. nw u verify they given cl and b.od in the ratio 2:1. but nw u will get 3:1. dont compare 200000 and 100000. as per my view  we should compare curent liabilities (including bod) and bod. thanks for u r reply

@ ankush sharma thanks for rectifing my mistake. yes 1/3.  in exam i did correctly.

Originally posted by : sukanya
	@ ankush sharma a small doubt. as per u, cl=200000, bod = 100000. nw u verify they given cl and b.od in the ratio 2:1. but nw u will get 3:1. dont compare 200000 and 100000. as per my view  we should compare curent liabilities (including bod) and bod. thanks for u r reply

yes i was facing same difficulty but there are not ration its simple division of ratio

300000 will be in 2L and 1L ,,i am sure because i hv solved many similar question before

@ ankush sharma oh k k. thanks for u r reply. 

accounts and costing fm solutions nov 2013 

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