Accounts Articles
Accounting for Service Tax under point of taxation regime
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
Finalization of Balance Sheet (Part - III)
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
Various methods of Project finance
Introduction: For whom is it important to understand project finance? Financial managers Sponsors Lenders Consultants and practitioners Project managers Builders Suppliers Engineers. Researchers Students.
Short Note on Financial Analysis and Planning
The basis of financial analysis, planning and decision making is financial information. A firm prepares final accounts viz. Balance Sheet and Profit and Loss Account providing information for decision
XBRL Filing of Financial Statements
SECTION A XBRL FILING OF FINANCIAL STATEMENTS XBRL is the acronym for Extensible Business Reporting Language. As the name itself suggests, it is a language for presentation of data which permits easy analysis and interpretation thereby r
Treatment of Proposed Dividend under Revised Schedule VI
A) INTRODUCTION Revised Schedule-VI has been promulgated by Ministry of Corporate Affairs, Government of India vide Notification No S.O. 447(E) dated 28th February,2011. In said notification reference has been made to the Accounting Standards noti
Taxation Entries
The actual taxation entries are most important things as they clears the Balance sheet picture and gives real result. Before going to understand the taxation entries, we should clear the various heads relating to Income Tax. [1] Provision for In
Accounts Payable Process
I was puzzled when my colleague, a new joiner, came up and said I find the Accounts Payable process a double dutch, payments made by cheque should be easy peasy (lemon squeezy). I peeped into his educational background and found him
Revised Schedule VI Head Wise Classification Concepts
As we know the Revised Schedule VI has introduced a concept of classified balance sheet. Para 1 and 3 of General Instructions for preparation of Balance Sheet defines current assets / non-current assets and curre
Specific Issues in Revised Schedule VI - Part - II
In continuation of earlier article on topic Specific Issues in Revised Schedule VI, I am now here to discuss certain issues on Assets Side of Balance Sheet. Here we have a residual head named as Other Non Current Assets&
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