Accounts Articles
Ind AS - A convergence to IFRS. Whether a Nightmare?
It is not an article on procedures and technicalities of IFRSs but a generic one for a common man who is more concerned with results than with accounting intricacies and sophistications. The term IFRS has four components �International- Financi
Yuan - Depreciation; Is a Trick?
It was not surprise for many who were expecting devaluation of Chinese Currency Yuan, however for them also the magnitude of devaluation was surprise. Yuan has weaken by 4.0 % against US $ within a period of two days. Market across the world has take
Concise Note on CSR
NOTE ON CSREligibilityEvery company (Private or Public) having Networth of Rs. 500 Crore or more or Turnover of Rs. 1000 Crore or more or Net profit of Rs. 5 Crore or more in any of the 3 preceding Financial years. (Circular 18 June by MCA)Board Cons
Know your Accounting Standards
Accounting Standard -15�Employees Benefits�Accounting Standard-15 issued by Chartered Accountants of India is mandatory in nature and has partial exemptions for level �II/III and Small and Medium companies.The objective of this Stan
Accounting as per AS 11 - A Special Case
Facts of the CaseA foreign currency loan has been obtained by the company for financing Plant & Machinery, a depreciable fixed asset. The principal portion of the said loan is fully secured by entering into twelve forward contracts for the instal
BI tools help accountants and financial pros to better serve customers and partners
So, you�re an accountant, or financial professional? You can analyze a spreadsheet with the best of them. You can credit and debit with and you explain any portfolio, chart of accounts, balance sheet or P&L to any client. You may think that
Financial Shenanigans
Financial Shenanigans includes aggressive or creative accounting, window dressing and accounting frauds with an intent to create a wrong impression about the financial performance and health of the enterprise. Dishonest compani
Social Accounting & its importance
Social accounting is a way of demonstrating the extent to which an organization is meeting its stated social or ethical goals. Technically, the term �social accounting� or �social auditing&rdqu
Consolidation of accounts for private limited companies
It is believed that to get correct picture of financials of a business, the financials of the subsidiaries & joint ventures of the company should be analyzed together. On this premise the concept of consolidation of accounts is devised & is t
Cost control and cost reduction
Cost accounting has been defined as �that branch of accounting which deals with the classification, recording, allocation and summ
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