Accounts Articles

Corona and Ind AS

CA Sumit Sarda 29 June 2020 at 09:29

Coronavirus has led to many issues world around not just in relation to health but also has impact over various other concerns and one such concern is its accounting impact.

Sale and leaseback transaction as per Ind AS 116 with example

Rakshya Daga 27 June 2020 at 18:50

Background, in a Sale and leaseback transactions (SALT), an entity transfers an asset to another entity and leases that asset back from the buyer. This kind of ..

Balance Sheet Healing - New Accounting Yoga Practice to Heal

CA. Chikkerur C R 23 June 2020 at 17:08

This article is trying to address the above fear with tool of ' Balance Sheet Healing '. It is trying to link Healing process by way of Compliance, books of records & ITR to face uncertainty of life.

Golden Rules of Accounting

Aishna Kukreja 19 June 2020 at 15:23

To record the transactions in the books of accounts we follow the 3 golden rules of accounting in the traditional approach.

Recent amendment in IFRS 16 and proposed amendment in Ind AS 116

Hardik 06 June 2020 at 09:44

Recent amendment in IFRS 16 and proposed amendment in Ind AS 116

IAS 36 - Impairment of Assets

Vishal Gupta 29 May 2020 at 10:06

IAS 36 - Impairment of Assets

IAS 16 - Property, Plant & Equipment

Vishal Gupta 28 May 2020 at 10:02

IAS 16 covers the aspects of accounting for property, plant and equipment and represents the list of items falls into 'Tangible' Non-Current Assets.

IFRS 16 vs US GAAP (ASC 842): Bridging the gap for Lease Accounting

CA Shammi Prabhakar 26 May 2020 at 09:49

IFRS (International Financial Reporting Standard )16 has significantly changed the accounting for leases across the globe. Most of the entities are busy managing these impacts for reporting their numbers of the previous financial year.

IFRS at a Glance

Vishal Gupta 23 May 2020 at 11:23

The International Accounting Standards Board (IASB) is an independent and privately funded body that develops and approves IFRS standards. Prior to 2003, standards were issued as International Accounting Standards (IASs). In 2003, IFRS 1 was issued and all new standards are now known as IFRS standards.