Accounts Articles

Exemption to PFIs specified u/s 4A of the Companies Act

Posted by Alok Rudra 20 July 2011 9243 Views

Exemption to PFIs specified u/s 4A of the Companies Act, 1956 from disclosing investments as required under Paragraph (1) of Note (l) of Pat-I of Schedule VI in their balance sheet [Ref: Notification No. S.O. 300(E), dated 8th February 201

IFRS with Indian AS

Posted by Vijay 16 July 2011 17476 Views

I.Indian Accounting Standards already issued by the Institute of Chartered Accountants of India (ICAI) corresponding to the International Financial Reporting StandardsAS 1 is based on the pre-revised IAS 1. AS 1 is presently under revision to bring i

Mandatory Cost Audit.Cost compliance for the FY 2011-12

Posted by CMA Navneet Kr Jain 30 June 2011 119315 Views

Sub: Latest amendment with relation to Cost Records (Sec 209(1)(d) and Cost Audit (Sec 233B) of Companies Act to be complied from the year 2011-12 onwards Sir, Ministry of Corporate Affairs has recently issued various notifications/cir

Bank Reconciliation Statement

Posted by NURSINGHA SAHOO 29 June 2011 76294 Views

BANK RECONCILIATION STATEMENT Bank Reconciliation Statement You operate a bank account in which you deposit money and withdraw money from time to time. You maintain a record with yourself of these deposits and withdrawals. One day you get your pas

Specialization for Survival for Chartered Accountants

Posted by Dilip K Raina 13 June 2011 48350 Views

Gone are the days when a chartered accountant in profession use to provide service to the clients with authority and client was supposed to reveal everything during the process of audits or other consultancy services being availed by such clients? T

Growing consumption a bane for India - Cost Management

Posted by CMA.Devarajan Swaminathan 18 May 2011 7420 Views

Growing consumption a bane for India - Chandran Nair.I was reading this interview that appeared in the Economic Times, Mumbai Edition today with great interest. "Author and think-tank founder Chandran Nair is a second-generation Indian-orig

Getting Started With Ind-AS

Posted by CA S.SAIRAM 11 April 2011 19542 Views

GETTING STARTED WITH IND-AS Most of us are now aware that the Ministry of Corporate Affairs has kick started the process of Globalization in accounting by notifying 35 new Accounting standards (titled Ind-AS) which are the current desi version of t

Financial Items Classification AS 30-32

Posted by Fahim 21 March 2011 21286 Views

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

Posted by Santhosh Thaikkadan 11 March 2011 27402 Views

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.

Posted by anurag 01 March 2011 19742 Views

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