Accounts Articles
AS - 11 notification
Has India Inc been finally blessed with an amendment that could clear the smoke screen that is being created by the unprecedented volatility in the currency market?There used to be a time when the Indian rupee gained considerably against the U.S doll
Construction Contracts (IAS-11)
Construction Contracts (IAS-11)A Construction contract is defined in IAS 11 as “ …A contract specifically negotiated for the construction of an asset or a combination of assets that are closely interrelated or interdependent in terms o
How a Tata Motors unit turned around with Balanced Scorecard
Author : Suresh Lulla/DNAPerformance measurement, analysis and review are critical steps in an organisation's progress towards its goals and vision. The objective of performance measurement is to steer the company to goal attainment, and enable it to
Some Differences between IFRS and AS
Differences v DividendsØ Dividends are classified as a financial liability and are reported in the income statement as an expense. If dividends are declared subsequent to the balance sheet date, it is not recognised as liability. (I
IFRS Challenges
IFRS - Challenges n Major Challenges : v Shortage of Resources With the convergence to IFRS, implementation of SOX, strengthening of corporate governance norms, increasing financial regulations and global economic growth, acc
IAS 32 Financial Instruments
IAS 32 Financial Instruments - Definition v A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entityv The financial instr
Why IFRS.. Introduction
Why IFRS? Ø Numero-uno accounting framework with global acceptance.Ø Business going global, more cross border transactionØ Access to international capitalØ Single global financial reporting language&O
List of IFRS
The following IFRS statements are currently issued:IFRS 1 First time Adoption of International Financial Reporting Standards IFRS 2 Share-based Payment IFRS 3 Business Combinations IFRS 4 Insurance Contracts IFRS 5 Non-current Assets Held for Sale an
AS-22 An IMPORTANT GLANCE
AS-22: ACCOUNTING FOR TAXES ON INCOME Meaning and Glance to Its Recognition, Presentation & Disclosures. MEANING: Taxable income is calculated in accordance with tax laws. In some circumstances, the requirements of thes
EBITDA !
A CLEAR LOOK AT EBITDA:Normally, investors focus on cash flow, net income and revenue as the basic measures of corporate health and value. But in recent years, another measure has crept into quarterly reports and accounts: earnings before interest, t
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