Financial Reporting - Jan 2026 RTP

The modification in the contract does not fall under the purview of Ind AS 115 What would be the remaining total revenue of the contract for 5 years? (a) ` 11,50,000 (b) ` 10,60,000 (c) ` 12,40,000 (d) ` 13,50,000 What amount of revenue be recognized for Year 2? (a) ` 2,00,000 (b) ` 2,25,000 (c) ` 2,30,000 (d) ` 1,10,000 State which of the following statements is correct with respect to transactions between A Ltd. and K Ltd. and…

Original ESOP scheme by H Ltd. (Parent ESOP scheme) At the beginning of year 1, H Ltd. granted 1,500 options in its own shares to its own employees as well as S Ltd.’s employees (i.e. 1,000 to H Ltd.’s employees and 500 to S Ltd.’s employees) with a fair value of ` 15 per options, conditional upon the completion of 3 years' service. H Ltd. will settle in its own equity shares. All the options are expected to vest. H…

New ESOP scheme by S Ltd. (Subsidiary ESOP scheme) H Ltd. and S Ltd. are unlisted entities. However, at the end of Year 1, S Ltd. gets listed. At the beginning of year 2, S Ltd. offers 1,500 options in its own shares to H Ltd.’s employees and its own employees (i.e. 1,000 to H Ltd.’s employees and 500 to S Ltd.’s employees), conditional upon H Ltd. and S Ltd.'s employees surrendering the right over parent ESOP scheme. Remaining vesting…

Parent A Ltd. is the reporting entity that has net investment in foreign operations in its two foreign Subsidiaries, B Ltd. and C Ltd. 5 JANUARY 2026 EXAMINATION REVISION TEST PAPERS In all the following scenarios, loans made between group entities are permanent in nature (that is, settlement is neither planned nor likely to occur): Scenario 1 Parent A Ltd., with sterling as its functional currency, is preparing its financial statements to 31st March, 20X5. It has a loan receivable…