CAclubindia Articles
Understanding the US GAAP with Indian GAAP
With the globalization and advancement of India, Indian accountant professionals(IAP) are not only required to follow the India AS but also required to follow the US GAAP, as many MNC are doing the accounting job from India and IAP are not require
Good Things are not Accidental
I believe that good things come to those who work. -Wilt Chamberlain Good things are not accidental: If you are supposed to secure first position in exam you have to work hard or study day in day out, it cant happen just bec
Short Note on Financial Analysis and Planning
The basis of financial analysis, planning and decision making is financial information. A firm prepares final accounts viz. Balance Sheet and Profit and Loss Account providing information for decision
Cenvat For automobile Dealers
Brief Introduction Generally Automobile Dealers are engaged in three main activities i.e. Selling of Vehicles, Selling of Spare parts of vehicle, and working as an Authorized Service Station on behalf of the principal. In the course of selling
Interpretation of Statutes
Statutes mean an act passed by legislative body. So interpretation means explanation of the same. Interpretation of statutes is needed when language of law is not clear or has ambiguous meaning. These interpretations are
Time-Time ki Baat Hai - Part II
Hey Niraj, am back to seek your help again said Uncle Shrikant to his nephew Niraj Desai. Completely my pleasure uncle, please tell me, how can I be of help to you. Said Niraj Shrikant: As you know, my younger son, Aaka
Accounts Payable Process
I was puzzled when my colleague, a new joiner, came up and said I find the Accounts Payable process a double dutch, payments made by cheque should be easy peasy (lemon squeezy). I peeped into his educational background and found him
Importance of study plan
WATCHWORDS: Practice, Patience, Perseverance; Plan your work and work your plan; There is no substitute for hard-work and discipline. Most of the ti
Acounting for Cenvat
Introduction: Accounting under service tax is one of the important aspects for the assesses in the organization . In this article we would like to highlight some important basic accounting entries with regard to service tax. So that, the organi
Treatment of Proposed Dividend under Revised Schedule VI
A) INTRODUCTION Revised Schedule-VI has been promulgated by Ministry of Corporate Affairs, Government of India vide Notification No S.O. 447(E) dated 28th February,2011. In said notification reference has been made to the Accounting Standards noti
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