Accounts Articles
IAS 16 - Property, Plant & Equipment
IAS 16 covers the aspects of accounting for property, plant and equipment and represents the list of items falls into 'Tangible' Non-Current Assets.
Effective measures to avoid financial frauds
Fraud typically involves misrepresentation of facts, either by withholding critical information or providing false statements to another party for the specific purpose of gaining something. Although fraud comes in different forms, it can be categorized primarily into asset misappropriation, financial statement fraud, and corruption.
IFRS 16 vs US GAAP (ASC 842): Bridging the gap for Lease Accounting
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.
Will Technology replace Accountants?
There always will be a need for that human element - human intelligence - at the other end of AI technology. In fact, according to a leading research firm, Gartner, AI is set to create more jobs than it will replace, leaving workers, including accountants with options.
Manage Accounting Operations during COVID-19 Crisis
Know the Accounting pivots that will help an organization emerge stronger and better than ever in this crisis. Businesses should automate their processes make it appealing for investments.
Difference between Bookkeeping and Accounting Explained
Accounting and bookkeeping are interrelated terms and are inseparable parts of any business. While accounting is a broader and analytical term, bookkeeping is its subdivision and just a part of it. Here�s highlighting the differences between the two.
The Components of Your Monthly Payslip Explained!
Most of us discuss the information related to remuneration during the salary negotiation round after qualifying for the job interview. After that, the matter is never brought up and employees do not bother taking their payslip in hands to analyze it. Let us understand the components of our pay slip.
What is letter of credit?
Letter of credit is a written document issued by the bank on request of its customer, promising to pay a specified sum in a specified currency by a buyer's (or importer's) bank i.e. issuing bank to the seller's (beneficiary or exporter's) bank i.e. accepting bank or negotiating bank or paying bank for providing of goods and services.
Accounting for Bad debt written off
Accounting for Bad debt written off is done in two methods, allowance method and Direct written off method.
IND AS 7 vs AS 3
Ind AS 7 and existing AS 3The objective of IND AS 7 is to require the provision of information about the historical changes in cash and cash equivalents of an entity by means of a statement of cash flows which classifies cash flows during the
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