accounting standards in brief

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Issues arising from implementation of MAT on IAS compliant companies


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Issues arising from the implementation of Minimum Alternate Tax MAT provisions relating to Indian Accounting Standards Ind AS compliant companies Finance Act 2017 amended the provisions of section 115JB of th

Change in MRP on unsold stock prior to implementation of GST till 30th Sep


Shri Ram Vilas Paswan briefs about the recent decisions taken by Ministry of Consumer Affairs Food Public Distribution Government decides to continue the same issue prices for food grains under the National Food Security Act till June 2018 Shri Ram Vilas Paswan Department of Consumer Affairs allows

Allowing students to shift from one Elective Paper to another Elective Paper


Under the Revised Scheme of Education and Training Electives have been introduced at the Final level in the following areas Global Financial Reporting Standards International Taxation Financial Services Capital Markets Risk Management Economic Laws Multidisciplinary Case Study Students are required

CBDT notifies new Safe Harbour Regime


In order to reduce transfer pricing disputes to provide certainty to taxpayers to align safe harbour margins with industry standards and to enlarge the scope of safe harbour transactions the Central Board of Direct Taxes CBDT has notified a new safe harbour regime based on the report of the Committe

Implementation schedule of the new CA course


Revised Scheme of Education and Training for CA Course FAQs and Implementation Schedule The Institute of Chartered Accountants of India ICAI has formulated the Revised Scheme of Education and Training in lines with International Education Standards issued by International Federation of Accountants I

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Experts Opinions

Accounting of franchise sales


Dear All One of my client is in to a retail business of one famous cloth brand They paid a deposit and some stocks is been issued to them They used to transfer whatever the money they receive from sales to the main company and at the end of the month they are getting a commission So in this case whe

Export sales accounting entries


WHAT ARE THE ACCOUNTING ENTRIES FOR EXPORT SALES OF THE FOLLOWING TYPE SALES VALUE US 10000 00 FREIGHT CHARGES US 1000 00 NETT F O B VALUE US 9000 00 Customs Exchange Rate on LET EXPORT DATE 1 62 00 BUYER Name XYZ ON PAYMENT OF IGST NO BOND OR LUT ALSO IF SHIPPED UNDER LUT BOND REQUEST GUIDANCE

Accounting adjustment for debtor creditor balance


I have a query regarding writing off debtor and creditor balance suppose XYZ is a debtor from whom Rs 250000 is recoverable and ABC company is a creditor to whom Rs 200000 is payable and if in case Rs 250000 XYZ is not recoverable and from onwards we are not going to pay Rs 200000 to Creditor ABC so

Format of loan proposal with briefing and cash flow.


sir i am in a need of format of loan proposal with cash flow and briefing of a loan of 2crore of a resort

Accounting of capital goods


Dear Sir Our Co bought a New Machinery in Parts and its Assemble and Install at Factory A bought a parts on different date Please Suggest to how to its record in the books because if we record as in parts then inventory and Fixed assets both will creates and it show in balance sheet as current asset

Discussion

service accounting code in gst

Please tell me sac hsn code of motor repair celling fan exhoust fan cooler fan starter repair giser repair

Accounting of service tax pre-deposit

Can someone please guide regarding accounting of Service Tax pre deposit for filing stay applications In our company we intend to reflect it as a current asset Is this the right method

Accounting entries in gst

Can We make the accounting entries without showing inventories in gst i think we can can generate gstr1 2 in Tally software

advanced accounting

why in the redemption of debenture chapter there is no treatment of interest on debenture

Accounting treatment of bonus received in cahs

I have a query regarding bonus issue of shares I have 15 shares of a listed company Recently the company declared the bonus in the ratio of 1 2 i e 1 share for every 2 shares held Due the odd lot 15 shares I received the bonus in two components First I receive 7 shares At the same time I also receiv

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A brief introduction of taxes to be subsumed under GST


GST is all set to roll out from 1 July 2017 Broadly GST is referred as One nation one tax GST is one indirect tax for the whole nation converting India into the single unified market GST is a single tax on the supply of goods and services right from the manufacturer to the consumer Credits of input


How to apply accounting concept to our real life?


1 Substance over form If someone is doing something dont focus on what form he is doing always focus on WHY substance is he doing Suppose if the teacher is scolding you in front of all students dont blame teacher analyze why is he scolding me what will he get by scolding me he is trying to change me


MBA in Forensic Accounting


Everything you need to know about BML Munjal UniversitysMBA in Forensic Accounting With an increase in demand and supply transactions worth billions are made across the globe With increased revenues and higher prospects the chances of fraud and other such unethical activities have also skyrocketed c


New Lease Accounting Standard


The new ASU Accounting Standards Update for Leases Topic 842 under USGAAP has been issued by FASB For public companies the ASU is effective for fiscal years and interim periods within those fiscal years beginning after December 15 2018 Thus for a calendar year company it would be effective January 1


Brief GST tax rates after the two day meeting


A brief of tax rates for products under GST No tax No tax will be imposed on items like fresh meat fish chicken eggs milk butter milk curd natural honey fresh fruits and vegetables flour besan bread prasad salt bindi Sindoor stamps judicial papers printed books newspapers bangles handloom etc 5 Item


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Updated on : 8/13/2017 12:42:22 PM


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