Accounts Articles

Preface to IFRS

CA ANKUSH AGGARWAL 17 January 2015 at 12:38

PREFACE TO INTERNATIONAL FINANCIAL REPORTING STANDARDS PURPOSE OF ISSUING PREFACE Setting out objectives and due process of the IASB Explain the scope, authority and timing of application of IFRS Preface has been amended from time t

Accouning Standards vis-a-vis IND vis-a-vis IFRS

CA. Atul Khurana 22 December 2014 at 11:00

OVERVIEW:What is Convergence of Accounting Standards?What is IFRS?Convergence of Indian accounting standards with IFRSRole of ICAI in IND ASRole of SEBI in IND ASRole of Industry AssociationsAdvantages and Challenges after implementing IND ASFor bett

Joint Development Agreement - A Business Model - Part 2

Bhanu Prakash Rao 16 December 2014 at 10:58

In my earlier article Joint Development Agreement - A Business Model I had made an attempt to discuss the joint development agreement model and a broad view of tax implication under the Income T

Basic Provisions of Corporate Social Resposibility (CSR)

Sushil Kumar Shaokand 06 December 2014 at 12:12

Basic provisions related to CSR Policy Corporate Social Responsibility requirementsAs per the Companies Act, 2013, section 135, every company having: 1. Net worth of rupees five hundred crore or more, or2. Turnover of rupees one thousand crore or mor

AS 17 Segment reporting (An Overview)

Narayanan 03 December 2014 at 11:48

Why is it required ?For a clearer understanding of the performances of segments.Scope :For General Purpose Financial Statements or Consolidated Financial Statements. If Financ

Meaning of Debit Note & Credit Note

Ankur Dudani 19 November 2014 at 10:28

#!,This Article contains Detainled Information about Debit Note & Credit NoteDebit note is a note sent by one party to another informing him that his account is debited in the sender's book.e.g. P (Purchaser) Purchased goods from S (Seller)

Foreign Bank Accounting Terms

CA Bhavin Shah 13 November 2014 at 10:21

FOREIGN BANK ACCOUNTING TERMSNostro, Vostro and Loro are Italian terms. These are the most commonly used terms in Forex Markets. For dealing in forex market, Indian Branch should have a current account with the foreign branch dealing in respective cu

Add Business Intelligence and KPIs to Tally Solutions

Arbuda Dave 06 October 2014 at 11:10

Many small and medium sized companies use the Tally Solution to manage accounting and financial information and decisions. But, as the small to medium (SME) sized organization grows, it must consider its growth plan and take careful steps to grow at

Understanding AS 22 - Deferred Taxes

Himanshu Kalra 15 September 2014 at 10:50

AS 22 is considered a tricky accounting standard and rightly so. This article is an honest effort to explain the same it in simple words.Deferred tax means providing for the differences between accounting income an

MCA notification on Amendment to Sch II of Companies Act 13

CA Amit Kumar 02 September 2014 at 11:10

MCA notification on amendment to Schedule II of Companies Act; 2013Ministry of Corporate Affairs has amended Schedule II (Useful lives to compute depreciation) of the Companies Act; 2013 by issuing notification dated August 29, 2014. Schedule II of t