Accounts Articles

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

Posted by CMA Navneet Kr Jain 30 June 2011 119313 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 76288 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 48341 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 7411 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 19539 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 21278 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 27394 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 19735 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

IFRS - Basics

Posted by CA Ruban kumar 12 February 2011 58894 Views

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