Real Estate/Construction Industry: Reconfirmation of Applicability of Cost Accounting Record Rules-2011 by Ministry of Corporate Affairs By Navneet Kumar Jain FCMA, MBA, LL.B., M.COM., PGDTL, LIII., AIIISLA The present article is in continuati
Cash flow statement.As the name itself indicates the statement which only deals with inflow and outflow of cash (and cash equivalents) during the accounting year. Our work is to classify those inflows and outflows into three activities namel
Facts of the case Indian Entities have issued Foreign Currency Compulsory Convertible Bonds / Compulsory convertible debentures. How should the same be classified under revised Schedule VI? Revised Schedule VI Excerpt from Guidance
IFRS are considered a "principles based" set of standards that establish broad rules for accounting.Rules-based standards such as US GAAP have an accounting rule for almost every type transaction. There are various oversight bodies whose objective is
Cost Compliance Report and Applicability On New Industries for the year 2011-12: From the year 2011-12 onwards many companies have come under the purview of Section 209(1)(d) of the companies Act
The Day is 1st of April 2001; the Indian Accounting Fraternity is introduced to the concept of Deferred Tax. Accounting for Taxes on Income (AS 22) is applicable to different categories of enterprises from different dates. TABLE 1.
Introduction Section 209 is one of the most important sections in the Companies Act, 1956. This section deals with the requirements of maintenance of books of accounts and penalties for non compliance. A detailed analysis of the provisions of Sect
The Revised Schedule VI which is to come with effect from 1.4.2011 is intended to mandate a presentation format which will facilitate showing what would have been accounted under the upcoming I
IFRS: Impact on the Countrys GDP IFRS (International Financial Reporting Standards) is not just a corporate subject but something which is of national interest. As the world turns into a Global village it is difficult for a co
LEASE (FINANCE AND OPERATING) AS -17 Definition:- Finance Lease :- A finance lease is a lease that transfers substantially all the risks and rewards incidental to ownership of an asset. Title may or may not eventually be transferred. In other wor
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