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accounting standards in brief


ICDS not applicable for November, 2016 Exam

Students appearing in November 2016 examination may note that Income Computation and Disclosure Standards ICDS shall not be applicable ICDS need not be applied for computation of incomeor for answering application based or knowledge based questions Final Paper 7 Direct Tax Laws IIPCE Paper 4 Taxatio

Withdrawal of two Guidance Notes on Accounting

The Council at its 359th meeting held on September 16 17 2016 has decided to withdraw the following two Guidance Notes on Accounting as the same are no longer relevant in the present day context GN A 9 Issued 1994 Guidance Note on Availability of Revaluation Reserve for Issue of Bonus Shares GN A 20

Framework for computation of book profit for the purposes of levy of MAT

Framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income tax Act 1961 for Indian Accounting Standards Ind AS compliant companies A Committee had been constituted with the approval of the Finance Minister to suggest the framework for computation of bo

Results of CA IPCC May 2016 exam declared

The Institute of Chartered Accountants of India ICAI established under the Chartered Accountants Act 1949 to regulate the profession of Chartered Accountancy It is one of the largest and prominent accounting body worldwide Chartered Accountancy profession has become a challenging career at the cutti

Synchronisation of financial accounting year with calendar year

Government has constituted a Committee to examine the desirability and feasibility of having a new financial year and give its recommendations by 31st December 2016 The terms of reference ToR of the Committee are as under Examine the merits and demerits of various dates for the commencement of the f

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Coal accounting

coal accounting for thermal power generating company How to account for shortage in coal received from government regulated mines Is shortage is to be accounted or total cost to be divided by total qty receipt at plant for the deriving per tonne cost


sir I want to be a fiancaial analyst which cources will help like tally sap and oracle

accounting for builders and developers

how and when sales entry for builders and developers is made

Tally accounting for saving bank interest

while doing proprietorship accounting saving bank interest credited to bank account shall be treated as other income or shall be credited to proprietors capital account If it is considered as other income in computation saving bank interest will get considered twice 1 as part of business income refl

accounting standards 7 to be followed?

company is engaged in infrastructure development so the accounting methods to be applied as per as7


Forensic accounting

What is meant byAmortizing Costs Too Slowly and example of any company doing this now

E-commerce and accounting

How is accounts maintained in ecommerce websites accounting rules followed

Accounting detail

if it is property developers and they let it for rent what would be the situation should Flatsconsidered as stock or fixed asset

Asking for accounting details

Sir can you tell me under what what head Flats falls if we are receiving monthly income from those flats and also expenses taken care by rent owner

Winding up of subs- accounting treatment in parent company

Hi Can anyone please tell me what is the accounting treatment in the following case A is the parent company of B 100 equity shares B company is widing up and Co A is receiving cash What should be the accouting treatment in the books of A should it be taken to reserves or PL or any other treatment Pl

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Fixed asset Accounting under IFRS

Fixed asset Accounting under IFRS Fixed assets can be classified basically in to two categories i e tangible intangible Under IFRS IAS 16 Property Plant Equipment deals with tangible fixed asset except the assets held for capital appreciation In case asset held for capital appreciation that assets h

Transition Phase: Indian GAAP to Indian Accounting Standards (Ind AS) and related practical issues

As the title itself suggests our point of discussion will be revolving around the first time adoption of Indian Accounting Standards practical aspects major impact areas and approach for implementation After a number of years of deferment the Ministry of Corporate Affairs finally notified thirty nin

Accountants can do more than accounting

The professionals really should engage themselves into the business planning not only simply doing the Audit Accounting Taxation their contribution is required to integrate all the department in order to identify the derived contribution on spending even single rupees They should not act as a fear f

Tips and tricks to crack Cost Accounting and Financial Management Exam

For some students Cost Accounting and Financial Management is a nightmare while for some this subject is a cakewalk With less than 3 months to go for November 2016 attempt following tips can be followed to easily clear Cost FM exam Though all these tips apply generally to other subjects as well but

The Insolvency & Bankruptcy Code, 2016 - A Brief Snapshot

A historical economic reform in India took place when the Rajya Sabha on 11th of May 2016 passed the Insolvency and Bankruptcy Code 2016 This is considered as the biggest economic reform next only to GST Its a key reform that will make it much easier to do business in India and help the recovery of

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Updated on : 10/23/2016 1:06:10 AM


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