th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
I did 1 MCQ wrong in FR and 1 in AFM, I was so happy and then comes ICAI with this kind of paper expecting some grace marks from ICAI in Audit to clear the group.
Mcq 14 answer will be D point no. 3 only because in ISA revised 2013 it states that ISA 610 (Revised 2013) states that internal auditors cannot carry out procedures when providing direct assistance that: Involve making significant judgment in the audit Relate to higher assessed risks of material misstatements where the judgment required in performing the relevant audit procedures or evaluating the audit evidence gathering is more than limited Relate to decisions the external auditor makes in accordance with ISA 610 (Revised 2013) regarding the internal audit function and the use of its work or direct assistance Relate to work with which the internal auditors have been involved and which has already been or will be reported to management (or those charged with governance) by the internal audit function. This restriction intends to minimise self-review threats.
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
You have calculated Eligible total capital funds comprising - 1. Tier 1 capital of Share capital 200 Crore. and disclosed Reserves 20 Crore. 2 Tier II capital of Other Reserves 30 Crore, and subordinated debt 20 Crore The Risk weighted assets constitute 25 Crore; while Off-balance sheet items are 5 Crore It seems you're calculating the Capital Adequacy Ratio (CAR) for a financial institution, likely a bank. To calculate CAR, we'll use the Basel III framework: *Tier 1 Capital (T1C)* 1. Share Capital: ₹200 Crore 2. Disclosed Reserves: ₹20 Crore Total T1C: ₹220 Crore *Tier 2 Capital (T2C)* 1. Other Reserves: ₹30 Crore 2. Subordinated Debt: ₹20 Crore Total T2C: ₹50 Crore *Total Capital (TC)* T1C + T2C: ₹220 Crore + ₹50 Crore = ₹270 Crore *Risk-Weighted Assets (RWA)* 1. On-balance sheet items: ₹25 Crore 2. Off-balance sheet items: ₹5 Crore Total RWA: ₹30 Crore *Capital Adequacy Ratio (CAR)* CAR = (Total Capital / Risk-Weighted Assets) × 100 = (₹270 Crore / ₹30 Crore) × 100 = 900%
Q12 Answer should be D though concept is right but if u see last sentence clearly highlight that even though it found out such difference it deposited "leaving insignificant amount". Option A apply only if it duly calculated and paid pM due in next
ICAI Module - Ethics Ch. - 1 Page 19.96 - (vi) (a) - accept the Auditorship of a college, if he is working as a part-time lecturer in the college. Sir, Can't we Assume that he may have taken the specific permission under regulation 190A from council to be a part-time teacher in a college other than of the Institute's?
Thank you so much Sir for such indepth discussion. I have answered 10/13 question correct, ignoring those 2 questions i.e DTL & CAR. And i got confused between rationalization and perceived opportunity, in that fraud risk question & finally choosen rationalization 😢.
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
RWA is typically higher than Tier 1 and Tier 2 capital combined, because regulations require banks to hold only a portion of capital relative to their RWA to cover potential losses.i think its pure mistake , sir can we expect grace marks fr this .
13:30 MCQ 10 sir this is incorrect solution. as per SA 701, even if no KAM, auditor needs to communicate to TCWG. Answer to this question would be option "A". [Para A24 SA 260] an "uncorrected" misstatement is so called only after communication is made to TCWG and they do not correct it
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
Sir wo professional ethics me clause 4 of second schedule me guilty hona chahiye. It is written in your book in 5th box that the auditor cannot accept auditorship if he is working as a part time lecturer in college
Question 8 answer should be part b, cannot accept as it violates cl 4 of part 1 of 2nd schedule. In question, ca m is already a CaiP. And he is further a visiting faculty. The particular mcq asks can such ca also become stat auditor of the college. A CAiP cannot become stat auditor of a college he is teaching in as per cl 4 of part 1 of second schedule. This is as per council guidelines for part time faculty (visiting faculty)
Thank You sir for your SA Revision videos.. it helped immensely in today's exam.. and as expected my answers in SAs are matching yours since my thinking has been aligned with yours during course of study. I hope ICAI's suggested answers are consistent with these solutions. I also wish you'd have uploaded other chapters' revision videos in your channel since that could have helped me score much better. Nevertheless thank you for your efforts sir , you helped immensely. :)
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
sir 8 ka answer option b aayegaa? coz in question "whether you can take up assignment as stat audit likha hai" Module PG 19.96 for which we can assume that lecturer toh vo phele se tha to permission le hi li hogi Please sir reply karna if aap dekho to
Only 8 crct ( including clause 4 ques) One easy question missed by misreading incorrect as correct in the case of subsequent events 😢 One question wrong interpretation on decision i made i guess (decision of stat auditor and i thought like it means decision regers to guidance given by stat auditor to int auditor and doesnt count to imternal auditor taking decision to help stat auditor 😢
Sir, once you have shared a book on practical audit on your YT channel. Can you reshare the name of that book? Or link of that video I couldn't find that video
Demand & Time liability shall be 18880, not 18790, only two things shall not exclude which is 1. Interest Accrued, 2. Net credit balance is baranch adjustment account.
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
Sir, transactions to be excluded from demand and time liabilities are given at 2 places. Section 42 of RBI Act and master circular on CRR and SLR dated 18/09/2009. I am not sure whether this circular still holds good but it is mentioned there that other demand and time liabilities includes net credit balance in branch adjustment account and interest accrued.
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
Sir please we are left with g2 also , Students may be in panic if mcq gone wrong... Please remove this , upload this on 13th nov Its no doubt useful but at the same time harmful for psychological peace untill g2 overs
Sir module m jab Substantial interest clause 4 padhte h toh usi ke aage theory m likha h ki auditor of college accept ni kr skta if he us part time lecturer (module 3 pg 19.96 ) ?? Please iska reply de dena sir
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
Question no 2 is CAR ratio is 10.8% Tier - 1 - Capital - 220/270 Tier 2 - 50/270 If you apply the weights for 10% and 15% then you will arrive to 10.80% That could be the answer for me.
Clasue 11 wala answer May statutory audit pucha hai wo clause 4 of part 2 of 2nd schedule hoga na substantial interest Us clause may likha hai teacher, trusteee not allowed to take audit engagement
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
I did 1 MCQ wrong in FR and 1 in AFM, I was so happy and then comes ICAI with this kind of paper expecting some grace marks from ICAI in Audit to clear the group.
Mcq 14 answer will be D point no. 3 only because in ISA revised 2013 it states that
ISA 610 (Revised 2013) states that internal auditors cannot carry out procedures when providing direct assistance that:
Involve making significant judgment in the audit
Relate to higher assessed risks of material misstatements where the judgment required in performing the relevant audit procedures or evaluating the audit evidence gathering is more than limited
Relate to decisions the external auditor makes in accordance with ISA 610 (Revised 2013) regarding the internal audit function and the use of its work or direct assistance
Relate to work with which the
internal auditors have been involved and which has already been or will be reported to management (or those charged with governance) by the internal audit function. This restriction intends to minimise self-review threats.
Thank you for sharing.
For MCQ-2
Pg 14.21 and 14.22 of ICAI module says what is to be included and excluded in the DTL position…I think option D should be the answer
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
You have calculated Eligible total capital funds comprising -
1. Tier 1 capital of Share capital 200 Crore. and disclosed Reserves 20 Crore.
2 Tier II capital of Other Reserves 30 Crore, and subordinated debt 20 Crore
The Risk weighted assets constitute 25 Crore; while Off-balance sheet items are 5 Crore
It seems you're calculating the Capital Adequacy Ratio (CAR) for a financial institution, likely a bank.
To calculate CAR, we'll use the Basel III framework:
*Tier 1 Capital (T1C)*
1. Share Capital: ₹200 Crore
2. Disclosed Reserves: ₹20 Crore
Total T1C: ₹220 Crore
*Tier 2 Capital (T2C)*
1. Other Reserves: ₹30 Crore
2. Subordinated Debt: ₹20 Crore
Total T2C: ₹50 Crore
*Total Capital (TC)*
T1C + T2C: ₹220 Crore + ₹50 Crore = ₹270 Crore
*Risk-Weighted Assets (RWA)*
1. On-balance sheet items: ₹25 Crore
2. Off-balance sheet items: ₹5 Crore
Total RWA: ₹30 Crore
*Capital Adequacy Ratio (CAR)*
CAR = (Total Capital / Risk-Weighted Assets) × 100
= (₹270 Crore / ₹30 Crore) × 100
= 900%
Q12 Answer should be D though concept is right but if u see last sentence clearly highlight that even though it found out such difference it deposited "leaving insignificant amount".
Option A apply only if it duly calculated and paid pM due in next
Bank me RWA + Off B/S item
And in case of Nbfc only RWA come....i.e. 10.80 % is the correct answer.
ICAI Module - Ethics Ch. - 1
Page 19.96 - (vi) (a) - accept the Auditorship of a college, if he is working as a part-time lecturer in the
college.
Sir, Can't we Assume that he may have taken the specific permission under regulation 190A from council to be a part-time teacher in a college other than of the Institute's?
Thank you for sharing.
As per icai study material , CA M , HT institute vale ka clause 4 (1) (2) hoga . Pg no. 19.96
Thank you for sharing.
Thank you so much Sir for such indepth discussion.
I have answered 10/13 question correct, ignoring those 2 questions i.e DTL & CAR.
And i got confused between rationalization and perceived opportunity, in that fraud risk question & finally choosen rationalization 😢.
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
Sir all the papers of group 1 are above average 😢😢😢 i m praying for grace marks in audit
Hi sir to the best of my knowledge tier I and tier II calculation is in NBFC and in given case it is bank and CRAR for bank is 9%
Thank you for sharing.
RWA is typically higher than Tier 1 and Tier 2 capital combined, because regulations require banks to hold only a portion of capital relative to their RWA to cover potential losses.i think its pure mistake , sir can we expect grace marks fr this .
I'm sure the examiners will take that into consideration.
16 marks i may get.my expection is coming 147.hoping to clear the group.
13:30 MCQ 10 sir this is incorrect solution. as per SA 701, even if no KAM, auditor needs to communicate to TCWG. Answer to this question would be option "A". [Para A24 SA 260] an "uncorrected" misstatement is so called only after communication is made to TCWG and they do not correct it
Thank you for sharing.
I have only 2 paper pending Fr & audit
If score in audit 35 and overall aggregate is done
Is there any chance for pass ???
Sir ek question tha jismh SRE ka preconditions likhna tha aur question mh SRE likha hua tha
Meine shayad SRS likh diya but name , no. , aur content pura correct hai
Kya pura galat ho jaega ?
Step marking should be given
Thank you for the discussion sir
Feel sad 😢😢😢 only 6-7 mcqs right . Pata nahi kya hoga ab
Still very good in such tough paper. 14 to 16 marks is good in MCQs
Sir PE mei maine bhi clause 11 likha hai.. mera galat ho jayga kya?
Sir.... Question of professional ethics.... Qstn has asked about statutory audit.. Not about other occupation... So answer is option B na??
Thanks Sir for devoting your valuable time, I am scoring 18 marks , with your blessing in this attempt I will become CA.
Congratulations, you got this!
Sir clause 4 hga usme pucha hai kya galat hga agr assignment accept krega kya
Sir in question 8 ( teaching faculty appointed as stat audit). Won't it be clause 4, because uska substantial interest hai institution mai?
Icai ke book me hai correct answer 18880 full explanation hai mai bana ke aaya hu icai ke book se padh tha
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
Excellent explanation sir ..😊
Sir MCQ-8 PE wale ka Clause 4 hoga .....since we select that option which is more correct ....
20 marks sure as matching with sir...rest 2 mcq doubtful..I got 10.80% and DTL ₹19360...
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
Sir crar q3 agar attempt kiya h toh marks milengwle kya as there is a mistake?
Sir wo professional ethics me clause 4 of second schedule me guilty hona chahiye. It is written in your book in 5th box that the auditor cannot accept auditorship if he is working as a part time lecturer in college
Thank you for sharing.
Question 8 answer should be part b, cannot accept as it violates cl 4 of part 1 of 2nd schedule. In question, ca m is already a CaiP. And he is further a visiting faculty. The particular mcq asks can such ca also become stat auditor of the college. A CAiP cannot become stat auditor of a college he is teaching in as per cl 4 of part 1 of second schedule. This is as per council guidelines for part time faculty (visiting faculty)
Thank you for sharing.
Thank You sir for your SA Revision videos.. it helped immensely in today's exam.. and as expected my answers in SAs are matching yours since my thinking has been aligned with yours during course of study. I hope ICAI's suggested answers are consistent with these solutions. I also wish you'd have uploaded other chapters' revision videos in your channel since that could have helped me score much better. Nevertheless thank you for your efforts sir , you helped immensely. :)
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
in ques 8 of this booklet ICAI assumed ki specific permission le liye hai uske baad ye kaha se galat hai, i guess!!
Sir, Any plans to start DT Final for May 2025 Fast Track or Regular batch.
I have marked MCQ in black ball pen for FR and AFM will they give marks for that?
sir 8 ka answer option b aayegaa?
coz in question "whether you can take up assignment as stat audit likha hai"
Module PG 19.96
for which we can assume that lecturer toh vo phele se tha to permission le hi li hogi
Please sir reply karna if aap dekho to
Thank you for sharing.
Thanks a lot sir. 8 correct
Thank you so much sir...
Thankyou Sir🎉🎉
Sir, how did you got this MCQ question paper, generally it is taken back?
Nowadays they allow to take home.
In 14th mcq (iii) statutory auditor decision about internal auditor then he cannot take assistance but here only decision is mentioned
Sir im getting 14 in mcqs.. I thought i will be scoring around 20 or something
Don't worry, 14 is a good score!
😢 mere sirf 5 hi thik hain..... Aur descriptive me mere bs 27 bn rhe hain.... Bhagwan ....😢
Only 8 crct ( including clause 4 ques)
One easy question missed by misreading incorrect as correct in the case of subsequent events 😢
One question wrong interpretation on decision i made i guess (decision of stat auditor and i thought like it means decision regers to guidance given by stat auditor to int auditor and doesnt count to imternal auditor taking decision to help stat auditor 😢
It happens. Keep practicing for the next exam!
Sir, once you have shared a book on practical audit on your YT channel. Can you reshare the name of that book? Or link of that video I couldn't find that video
Document your Audit. Khurshed pastakia
Good analysis sir❤❤
Sir i accidentally quoted SRE 4400 in place of sae 4400 toh full marks deduct honge kya?
Demand & Time liability shall be 18880, not 18790, only two things shall not exclude which is 1. Interest Accrued, 2. Net credit balance is baranch adjustment account.
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
Grace marking ki expectations hain sir?
Yes
MCQ ke ans change nh karne chaiye the...I was going correct on first read...
I wrote incorrect clause number in PE question of 5 marks but content was correct will u get marks?
Yes step marks
Sir only 16 marks scored seriously very sad 😢😭
Don't worry, 16 marks are still good. Focus on the next exam.
Just 6 correct answers.. Will be an Unsuccessful attempt..
Don't worry, keep practicing and you will succeed.
Sir whether clause 4 or 11 of mcq
Clause 4
Got 16 in mcq bass ab theory m aur pass hojae
Sir, transactions to be excluded from demand and time liabilities are given at 2 places.
Section 42 of RBI Act and master circular on CRR and SLR dated 18/09/2009. I am not sure whether this circular still holds good but it is mentioned there that other demand and time liabilities includes net credit balance in branch adjustment account and interest accrued.
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
Sir audit me grace milegi kya😢?
Let's hope so
Only 10 marks in mcq 😢😢
Thank you sir
I scored only 10 is it good or bad
Clause 4 hoga sir professional ethics k qusetion m
Thank you for sharing.
sir MCQ consume 45 mintue plus too much confused
Don't worry. It's normal to feel confused.
Sir mere to 16 mks hue mcq ke feel very sad 20 plus ka target tha
Don't worry, 16 marks are still good. Focus on next exam.
Sir please we are left with g2 also ,
Students may be in panic if mcq gone wrong...
Please remove this , upload this on 13th nov
Its no doubt useful but at the same time harmful for psychological peace untill g2 overs
I understand your concern. I will upload it after the G2 exam.
sir mcq 8 me use padhane ka assignment nhi mila ha rather he get the assignment for stat audit then he can do sir option a
Thank you for sharing.
Bht hi tough the mcq sir 😢
Sir module m jab Substantial interest clause 4 padhte h toh usi ke aage theory m likha h ki auditor of college accept ni kr skta if he us part time lecturer (module 3 pg 19.96 ) ??
Please iska reply de dena sir
Thank you for sharing.
Hi Also for DTL calculation Answer is 19360
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
thank u sir
Thanku SIr
20/30 is it good !?
Very good in such tough paper
Que 3 was a waste of time
Sir number 8 toh B hai?
I will get 26🎉🎉
16 aa rahe he mcq me sir exact
Don't worry, 16 marks are still good. Focus on next exam.
Sir i am getting 10 only out if 30 😢
Don't worry. Tough paper.
16 marks ke shi hai😢
Don't worry, 16 marks are still good. Focus on next exam.
❤❤
Hello sir. In ethics, i wrote clause (viii) instead of just 8. How many marks will they deduct?
Not necessary
@SiddharthAgarwalClasses so you mean it isn't big of an issue, right?
I made 6 mistakes.
I am getting only 18 marks ..scared. 😢
Don't worry, 18 marks are still good. Focus on next exam.
18880 D option DTL
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
Sir, Demand and time liabilities given in study mat, even all the mentions terms are given there
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
Sir Demand and time liabilities (inclusion and exclusion)is from your book pg no.14A.21
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
Mera 19075 aya tha DTL
th-cam.com/video/psqXfK5-x-E/w-d-xo.html Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.
Question no 2 is CAR ratio is 10.8%
Tier - 1 - Capital - 220/270
Tier 2 - 50/270
If you apply the weights for 10% and 15% then you will arrive to 10.80%
That could be the answer for me.
Thank you for sharing.
Not clause 11 kyuki usmai permission laikar icai ki kar sakta hai question mai specifically bola hai nhi kar sakta so clause 4 sir
Thank you for sharing.
Clasue 11 wala answer
May statutory audit pucha hai wo clause 4 of part 2 of 2nd schedule hoga na substantial interest
Us clause may likha hai teacher, trusteee not allowed to take audit engagement
Thank you for sharing.
Clause 11 nahi clause 4 hoga
Thank you for sharing.
18
Im getting 14 out of 30 as per your discussion. Feeling 😢
It may be more. Icai answers are sometimes different
18 marks
Sir i scored 14 except wrong questions..if descriptive i have just given facts qnd conclusion
.will i get passing marks
Let's hope for the best
8/30 marks only
Thankyou sir.
Thank you sir ❤❤
Sir i good 10 marks in mcqs but i wrote descriptive reasonable well should i get 40 marks in audit
Yes you can
Thanks a lot Sir