Accounts Articles

The Tale of Inventories (IND AS 2)

CA Rakesh Ishi 29 November 2024 at 14:47

The wise sage IND AS 2 came to the kingdom and shared his principles for valuing inventories.

Accounting Concepts and Conventions

prasad Nilugal 07 November 2024 at 06:43

Accounting concepts are the necessary or conditions upon which accounting is based; they are postulates, assumptions, or conditions upon which accounting is based.

The Art and Beauty of Financial Reporting and Analysis: Where Logic, Reason and Insight Converge

CA Naveen Mallakunta 21 October 2024 at 08:34

Financial reporting and analysis, often viewed as technical disciplines, reveal a captivating beauty when merged with artistic expression. Unlike the rigid structures of corporate and tax laws, this fusion of financial reporting and analysis combines logic, reason, and common sense to unveil a company's financial narrative.

Scope of Accounting in Small vs. Large Business

Ishita Ramani 01 October 2024 at 08:48

In this article, we can explore how the scope of accounting differs in small as opposed to massive corporations and the elements that force those variations.

Embracing Sustainability: Voluntary Business Responsibility and Sustainability Reporting (BRSR) Benefits

CA Naveen Mallakunta 24 September 2024 at 08:35

Voluntary adoption of Business Responsibility and Sustainability Reporting (BRSR) brings numerous benefits to organizations, enhancing their reputation, risk management, financial performance, and strategic decision-making.

Standardized Valuation Approach for Alternative Investment Funds (AIFs)

ValuGenius Advisors LLP 11 September 2024 at 14:27

To address the inconsistency and potential manipulation in the valuation of investment portfolios of Alternative Investment Funds (AIFs), SEBI has implemented amendments to standardize valuation techniques.

Recession is Coming: A Financial Tsunami in the US; Citi Raises Concerns

Sachin 11 September 2024 at 08:43

As the possibility of an economic recession in the US looms, global attention is now focused on the upcoming Federal Reserve meeting on September 17 and 18.

Case Study: Lease Rent Payment (Fixed or Variables)

FCS Deepak Pratap Singh 02 September 2024 at 08:31

In the given case, payment of Rs 2 per bottle packed is variable is nature because the no. of bottle packed will vary.

Case Study: Change in Accounting Estimates And Errors Reporting

FCS Deepak Pratap Singh 29 August 2024 at 08:39

In the given case, the retrospective restatement has no effect on the information in the balance sheet at the beginning of the preceding period (i.e., 1st April 2021). Therefore, PQR Ltd. is not required to present a third balance sheet.

Case Study: Short Term Leases

FCS Deepak Pratap Singh 26 August 2024 at 08:36

Entity X (lessee) enters into a lease with Entity Y (lessor) for two assets namely, Asset A and Asset B, with 10 months non-cancellable term with an option to extend the lease for 5 months. The lease does not have a purchase option.