Accounts Articles

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

Posted by CA. Atul Khurana 22 December 2014 20159 Views

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

Posted by Bhanu Prakash Rao 16 December 2014 35733 Views

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)

Posted by Sushil Kumar Shaokand 06 December 2014 16594 Views

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)

Posted by Narayanan 03 December 2014 140135 Views

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

Posted by Ankur Dudani 19 November 2014 925365 Views

#!,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

Posted by CA Bhavin Shah 13 November 2014 33571 Views

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

Posted by Arbuda Dave 06 October 2014 15343 Views

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

Posted by Himanshu Kalra 15 September 2014 109927 Views

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

Posted by CA Amit Kumar 02 September 2014 114659 Views

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

MCA clarification on Accounting Standard 10

Posted by CA Amit Kumar 01 September 2014 27532 Views

Impact of MCA circular on AS 10 on Indian Power Industry The Power Sector in India and Impact of Ministry of Corporate Affairs Circular (MCA) on Accounting Standard 10- Accounting for fixed assets and 16- Borrowing costsThe Power Sector in India has