Transfer pricing comes into use when various divisions of a company deal with one another. A transfer price is that notional value at which goods and services are to be transferred by the supply division to receiving division. The goods that are pro
Crux of AS - 18 : 1. The objective of the accounting standard is greater transparency and disclosures with regard to related party relationship by the reporting entity. 2. Related Party relationships arise on either of the two below: a)
Introduction: With the introduction of revised schedule VI, India has shown its intent to Converge Indian Accounting Standards (Ind AS) with International Financial Reporting Standards (IFRS) read with 41 International Accounting Standards (IAS) and
Applicability of Costing Accounting Rules to Construction Industry- an overview Introduction: As per the Ministry of Corporate affairs notification G.S.R.429 (E) dated 3rd June 2011 as well as clarification issued on 25th May 2012, compani
Introduction: I am being pragmatic in citing that Accounting Standards are the pre requisite for carrying on the business efficiently in the globalized economy. Accounting Standards are defined as the principles
In continuation of my previous article, this writeup brings out the brief differences between the two GAAPs and shares the industry impact analysis. Takes away from this article are part of the way forward section at the end. Major differences bet
Introduction India has principally agreed to converge to IFRS by implementing Revised Schedule VI, being the first constructive step in the journey. Let us appreciate the requirements of accounting for fixed assets in specific under Ind AS (ie IFR
Merger & Acquisitions Merger refers to a situation where two or more existing firm combine to form a new entity either a new firm is incorporated or one of the existing firm survives and another is merged with it. Acquisitions and takeover r
Back-ground The Ministry of Finance has brought into force the Point Of Taxation Rules 2011 from July 2011. Although it has been nearly a year since these rules have been brought into eff
Greetings of the day to all the members of CCI Family. So friends this is the final part of my series i.e. Finalization of Accounts. The links of my previous Article are given below:- FINALIZATION OF BALANCE S
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