Accounts Articles

Financial Items Classification AS 30-32

Fahim 21 March 2011 at 12:03

The accounting standards 30-32 suggest reclassification of financial assets into various sub-categories such as FVTPL, HTM, AFS etc. These jargons appear to be technical, but in reality we already know them under different name. This article is inte

FAQ on Convergence of Indian Accounting Standards with IFRS

Santhosh Thaikkadan 11 March 2011 at 13:03

What is IFRS?International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB). These are becoming the global standard for the prep

Impact of Introduction of IFRS on Indian Businesses.

anurag 01 March 2011 at 22:48

India has committed itself at the G-20 to make its companies, IFRS compliant from April 1st, 2011. Though India has not adopted the IFRS in full but it converged its Accounting Standards (AS) to get those in line with the international reporting s

IFRS - Basics

CA Ruban kumar 12 February 2011 at 13:16

International Financial Reporting Standards (IFRS) was issued by International Accounting Standards Board (IASB). The International Standard setting process began long ago as an effort to Standardize

IFRS - Euphoria over certain doom

PS Prabhakar 10 February 2011 at 11:41

Oh Lord! Forgive them! They do not know what they do can be the prayers of well meaning people over the inexplicable euphoria

Intellectual Property

CA CMA CS Ram Pavan Kumar Melam 19 January 2011 at 11:47

Intellectual propertyIntellectual property refers to creations of the mind: inventions, literary and artistic works, and symbols, names, and images used in commerce. Intellectual property is divided into two categories:1) Industrial Property inc

IFRS Convergence in India - Part 1

Rajesh 05 January 2011 at 12:21

IFRS Convergence Key Challenges Introduction: In last decade the Global market has become local. Entities are reaching new markets world over to sell their products & services, tap capital markets & banks for funds. Investors have s

IFRS Convergence in India

Parth - CA,CS,CMA 03 January 2011 at 13:37

IFRS/IAS The International Financial Reporting Standards (IFRS) is, as all we know, is posed as the global language of accountancy which is aimed to make the comparison and interpretation of the financial statements across the world easier. T

Consolidation requirements under AS-21

CA Prabhakar Dubey 13 December 2010 at 12:23

Issues: There are two companies. Both companies holding 50:50 in one another company. After some period of time, one company purchased additional 1 equity shares due to which the holding of this company is increased more than 50%. Is in this case co