Accounts Articles

DIFFERENCES BETWEEN IFRSs AND US GAAP

Member (Account Deleted) 26 July 2008 at 14:50

SOME KEY DIFFERENCES BETWEEN IFRSs AND US GAAP General approach IFRS: More 'principles-based' standards with limited application guidance. US: More 'rule-based' standards with more spe

REVENUE RECOGNITION

CA. A. Kumar 06 July 2008 at 12:18

Revenue Recognition Principle Revenues are recognized when (a) realized or realizable and (b) earned. [SFAC No. 5, Para. 83] Revenues --> not recognized un

**Indian Accounting Standards: Some are `very out of date

Darshu 18 May 2008 at 12:33

ndian business has gone global in a big way in recent years, which is clearly reflected in more companies setting up overseas arms, raising money from the market and acquiring companies. The coming years will only see an increase in the number of com

Time Management Tips

Jitender Garg 23 April 2008 at 23:44

Have you noticed how incredibly busy everyone is these days? Customers, colleagues, competitors – life is crammed full of activity. The things we want to do today, get postponed until tomorrow and we wonder at the end of each day, just what exa

ERP solutions for SMBs : Opportunity or Confusion ?

CA. Dashrath Maheshwari 22 April 2008 at 16:33

ERP solutions for SMBs : Opportunity or Confusion ? Its action time in the SMB space. Suddenly, the space neglected for so long seems to generate a lot of interest for behemoths of the Information Technology Industry. The turf once ruled by the multi

"dynamic current ratio"

Rahul Gupta 22 March 2008 at 21:09

In this article, we'll examine the "dynamic current ratio" to assess a company's liquidity status instead of the static but commonly used current ratio. It is often calculated alongside the quick ratio and the cash ratio, to provide analyst

International Financial Reporting Standards

CA. Amit Daga 21 March 2008 at 18:23

International Financial Reporting StandardsInternational Financial Reporting Standards (IFRS) the new avatar of International Accounting Standards (IAS) are issued by International Accounting Standards Board (IASB). This role was earlier discharged b

Sanctity of Accounting Standards

Rahul Tibrewal 20 March 2008 at 23:42

Under section 145 of the Income-tax Act, 1961, certain accounting standards have been made mandatory while computing the taxable income. However, this has been challenged by certain Companies on the ground that the mandatory provision is unconstituti

Custodian Guidelines of Petty Cash

Deepak Maithani 08 March 2008 at 15:06

PETTY CASH Petty cash allows you to make small purchases or reimbursements, in cash, for items such as stamps, office supplies, parking, etc. The fund should be enough to cover petty cash expenditures for about a month. If it is too small you will h

EVA

Rahul Tibrewal 14 February 2008 at 13:42

EVA (Economic Value Added) EVA (Economic Value Added) was developed by a New York Consulting firm, Stern Steward & Co in 1982 to promote value-maximizing behaviour in corporate managers (O'Hanlon. J & Peasnell. K, 1998). It is a single, value