alleryStart learning →Q1 inventory write-down Rs 40,000. By Q2 the year-to-date estimate is Rs 55,000. Q2 charge:
ARs 15,000
BRs 55,000
CRs 95,000
DRs 40,000
Answer & Solution
Correct answer: A. Rs 15,000
Estimates change on a year-to-date basis through additional accrual, so Q2 adds only the Rs 15,000 difference (55,000 less 40,000).
Keep practising Ind AS 34 Interim Financial Reporting
Browse all Ind AS 34 Interim Financial Reporting questions for CA Final, or explore more Financialreporting topics.
Related questions
A reporter more frequent than half-yearly measures income and expenses on what basis?Versus IAS 34, Ind AS 34 allows profit and loss in:Ind AS 34 Appendix A on interim reporting and impairment matches which interpretation?Ind AS 36 states that an impairment loss recognised for goodwill:The ban on reversing interim goodwill impairment is extended by analogy to other areas:Goodwill impairment booked in an interim period is later:Why must a policy change cover the whole financial year?A change in accounting policy at an interim date is reflected by: