Refer to problem no 8 of the compilation
ICAI has considered 54 weeks in an year. It is told in the question that there is only operating days in a week. Still what is the rationale behind taking 54 weeks in an year by ICAI?
5 Replies
shilpi
(student)
(780 Points)
Replied 22 March 2017
Because budgeted working hours given in the question are based on 324 days in a year.
Suresh Pai S
(Tax Consultant)
(1029 Points)
Replied 22 March 2017
But how can we assume 54 weeks in an year. How can ICAI redefine a week to 6 days? 54 weeks equals to 378 days. which cannot be accommodated in an year.
shilpi
(student)
(780 Points)
Replied 22 March 2017
Please read iiird point.It has mentioned 6 days in a week.
Suresh Pai S
(Tax Consultant)
(1029 Points)
Replied 22 March 2017
Yes that's right. But on what sense that we can tell that there is 54 weeks in an year?
Suresh Pai S
(Tax Consultant)
(1029 Points)
Replied 22 March 2017
They are telling about the change of chemicals in each week. And they have given their own definition to the week. If the same question tells that 3 days in a week, will you still accept that?. I am repeating this because they are telling that " chemicals are changed at the end of the week" . isn't it?
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