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😀Discrepancies noticed in the following papers CA Final Nov'24

➡️ Financial Reporting

➡️ Adv Financial Management

➡️ Audit

➡️ IBS

Please bring this to the notice of ICAI 🦅 as soon as possible, so that ICAI will award marks in that questions

Thank you 🤩

🙏All the best for IBS

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🚨🚨Incorrect MCQ in AFM Urgently mail this to The ICAI 🦅

Mail at - examfeedback@icai.in
Subject: Clarification and Resolution Request for Errors in CA Final Nov 2024 - Paper 2 (Advanced Financial Management)


Dear Sir/Madam,

I am writing to bring to your attention certain errors and ambiguities encountered in the CA Final Nov 2024 examination, specifically in Paper 2 - Advanced Financial Management. I hope this letter will help initiate a prompt resolution to these concerns.

Below are my details for your reference:

- Name :
- Registration Number :
- Roll Number :
- Email ID :
- Mobile Number :

Observations and Concerns:

Q2(b)
The discount rate necessary for calculating the present value is missing. This omission created confusion and hindered the ability to accurately respond to the question.

Q5(a)
- The question provided two discount rates, 15% and 12%, but did not specify which rate pertains to the Rupee and which to the Dollar, causing significant ambiguity.
- Although the question states that there is no salvage value, a net surplus of 1858.08 lakhs is mentioned as receivable after the project closure (post-5 years). If this amount is not intended as salvage value, it may be expected as the NPV. However, this interpretation also seems improbable given it is receivable after 5 years.
- Additionally, the question requests the calculation of the recommended forward rate but does not clarify if this calculation is required for each year, further complicating the interpretation.
- Due to these ambiguities, a considerable amount of time was lost attempting to decipher the intent of the question.

With all due respect, I kindly request that my observations be taken into consideration for the above-mentioned questions. I trust in the diligence and professionalism of ICAI to address these concerns and ensure a fair outcome for all candidates affected by these ambiguities.

Thank you for your time and consideration.

Regards,
Your Name

🚨🚨Incorrect MCQ in FR Urgently mail this to The ICAI 🦅


Please do following Email at examfeedback@icai.in and bos@icai.in

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Subject: Request for Grace Marks Due to Error in CA Final Exam MCQ

Dear ICAI,

I would like to bring to your attention that I recently appeared for the CA Final November exam, and I identified an error in one of the MCQs in the Financial Reporting paper. The question itself appears to be incorrect, and based on the relevant IND AS, none of the answer options provided are accurate.

I kindly request that grace marks be considered for this MCQ.

Please find below the details of the case scenario and the specific MCQ in question:

Case Scenario:
Tara Ltd. is engaged in mining and various other industries, following Indian Accounting Standards with an April-March financial year. During the year 2023–2024, the company encountered certain issues for which they seek professional advice.

Relevant Paragraph of the Case Scenario:

On 1st April 2023, Tara Ltd. leased a machine from Dara Ltd. for three years, with an expected future economic life of eight years. Under the lease terms, Dara Ltd. would repair or replace the machine in case of breakdowns. Dara Ltd. also allowed Tara Ltd. to use the machine rent-free for the first six months as an incentive. Thereafter, lease rentals of ₹4,20,000/- are payable every six months in arrears, with the first payment due on 31st March 2024.

MCQ in Question:
Calculate the current liability for the machine lease from Dara Ltd. to be shown on the balance sheet as of 31st March 2024.

Options:
(A) ₹1,40,000
(B) ₹2,80,000
(C) ₹7,00,000
(D) ₹8,40,000

Thank you for your attention to this matter.

Sincerely,
Your Name

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