There was a time when accountants were considered nothing more than number-crunchers. But over the years, their role has evolved and grown. Today, the accountants not only play with numbers but also provide valuable insights and guidance that help businesses thrive.
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List of the top 5 things you should consider while designing your financial MIS.
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In continuation with my previous write-up on accounting of plantations, one another thing that grabbed my attention was the old building, furniture and other assets which were easily more than a century old.
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AS 10 is to be applied in accounting for property, P&E (Plant and Equipment)
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As Artificial Intelligence works for every industry, it certainly has a significant impact on the accounting and finance industries as well.
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International Public Sector Accounting Standards are a set of accounting standards issued by the IPSAS Board for use by public sector entities around the world in the preparation of financial statements.
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Section 44AA(1) prescribes compulsory maintenance of such books of accounts and other documents which will enable the AO to compute the total income in accordance with the provisions of the Income Tax Act.
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A hedge is an investment that is made with the intention of reducing the risk of adverse price movements in an asset. Normally, a hedge consists of taking an offsetting or opposite positions in a related security.
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Income taxes as per the Indian Accounting Standard 12 include both domestic and foreign taxes, which are based on taxable profits. It also includes withholding taxes.
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To provide exact profitability and bring more transparency to the financial statements of a company, the concept of Other Comprehensive Income was introduced in IND AS.
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