Accounts Articles

Provision and Payment of Gratuity is Mandatory

Posted by CA Sitaram Agrawal 14 June 2016 322686 Views

This Act is enacted to provide for a scheme for the payment of gratuity to employees engaged in factories, mines, oilfields, plantations, ports, railway compani...

Most common mistake in Depreciation

Posted by Kishore 28 May 2016 22137 Views

Change in life of assets has been specified in new companies act 2013. However it does not suggested change in depreciation method. Hence there is no need to recalculate effect of depreciation from the period of asset inception for depreciation. Chan

All about internal financial control (IFC)

Posted by CA Sumat Singhal 26 May 2016 291484 Views

What is Internal Financial Control (IFC)? (Sec 134) As per Section 134 of the Companies Act 2013, the term �Internal Financial Controls� means the policies and procedures adop

Practical Guide to Consolidation of Accounts

Posted by Vivek Agarwal 17 May 2016 150387 Views

"The more you learn, you learn that you still have lot to learn� Did you know? Before Companies Act 2013, only listed company was required to do Consolidation. AS 21 says that if a company is required to do consolidation then consolidation

Books of account

Posted by Member (Account Deleted) 04 May 2016 28365 Views

Books of Account etc. to be kept by CompanySection 128 of Companies Act, 2013Rules 2A, 3 & 4 of Companies (Accounts) Rules, 2014Sub-section 1 states1. Place of keeping Books of account -Books of account + other relevant books and papers + financi

Related Party disclosure under IFRS

Posted by CMA Ramesh Krishnan 25 April 2016 14184 Views

Current business scenario, the related party relationship are normal feature of any business, It may be through subsidiaries, joint ventures and associates, these kind of business arrangements generally affect the b

Hedge Accounting as per IND-AS

Posted by Rahul Magan 01 April 2016 66638 Views

Purpose of the Article:- Hedge accounting is a method of accounting where entries for the ownership of a security and the opposing hedge are treated as one. Hedge accounting attempts to reduce the volatility created by the repeated adjustment of a fi

Heads Up, Financial and Accounting Pros! Business Intelligence Tools Make a Difference

Posted by Arbuda Dave 26 February 2016 9957 Views

Every organization has to juggle information. Information and data come from every corner of the enterprise, and can include databases, data warehouses, best-of-breed systems, legacy systems, and specialized systems like ERP, HR, Finance, Accounting,

Financial statements under IFRS

Posted by CMA Ramesh Krishnan 03 October 2015 38204 Views

International Financial reporting standards (IFRS) is the current trending subject in the finance field. The purpose of preparation of financial statement not only to know the results of the business and also to check,

A b-indas journey Part 4: IND AS 1

Posted by MANOJ 28 September 2015 13614 Views

Hi!The journey is now going to get juicier as we now step into the accounting standards!The first one in the row will be Ind AS1 �Presentation of Financial Statements�. If your insides are shouting that the first one is Ind AS 101 &ldquo