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CA Final
Paper 1:
Financial Reporting 

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CA Parveen Sharma     Website:   Google Drive:Rs.19500

CA Parveen Jindal       Website:     Google Drive:Rs.12799

CA Aakash Kandoi      Website:     Google Drive:Rs.7249

CA Chiranjeev Jain      Website:     Google Drive:Rs,7500

CA Jai Chawla              Website:      Google Drive:Rs.5999

CA Vinod KR Agarwal   Website:    Google Drive:Rs.5225

Practice before writing your exam

Mock Series-1

Mock Series-2

Revision Test Paper-1

Revision Test Paper-2

Final Question Paper -2022

Final Question Paper -2021

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Test your preparation


Company A has taken a long-term loan arrangement from Company B. In the month of December 20X1, there has been a breach of material provision of the arrangement. As a consequence of which the loan becomes payable on demand on March 31, 20X2. In the month of May 20X2, the Company started negotiation with the Company B for not to demand payment as a consequence of the breach. The financial statements were approved for the issue in the month of June 20X2. In the month of July 20X2, both companies agreed that the payment will not be demanded immediately as a consequence of breach of material provision.

Advise on the classification of the liability as current / non –current.


A company has a scheme for payment of settlement allowance to retiring employees. Under the scheme, retiring employees are entitled to reimbursement of certain travel expenses for class they are entitled to as per company rule and to a lump-sum payment to cover expenses on food and stay during the travel. Alternatively, employees can claim a lump sum amount equal to one month pay last drawn. The company’s contentions in this matter are:

(i) Settlement allowance does not depend upon the length of service of employee. It is restricted to employee’s eligibility under the Travel rule of the company or where option for lump-sum payment is exercised, equal to the last pay drawn.

(ii) Since it is not related to the length of service of the employees, it is accounted for on claim basis. State whether the contentions of the company are correct as per relevant Accounting Standard. Give reasons in support of your answer

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