In the earlier article we had seen basics of Indian Accounting standards (IND AS), Now in this article you will be able to read about IND AS 1- Presentation of Financial Statements
Choosing appropriate software for your accounting firm is a tedious task. Every accounting firm has a different set of requirements. Some require built-in MIS Reporting; others need different functionalities in their practice management software.
This article is intended to make you understand the major impact both in terms of advantages and disadvantages of the adoption of Converged IFRS i.e Indian Accounting standards (Ind AS) on the financial statements and the working of the companies both.
Fraud typically involves misrepresentation of facts, either by withholding critical information or providing false statements to another party for the specific purpose of gaining something. Although fraud comes in different forms, it can be categorized primarily into asset misappropriation, financial statement fraud, and corruption.
With over four decades of association with the accounting profession, having witnessed phenomenal changes in the environment, expectations, opportunities and risks associated with the accountant�s role, due to the entry of computers in business organizations, I felt it appropriate to share my views here, for the benefit of young and budding Chartered Accountants.
Read these three recent instances where the principle of Going concern was invoked:
Bharti Airtel Limited
Vodafone Idea Limited
New Delhi Televisions Limited..
Accounting and bookkeeping are interrelated terms and are inseparable parts of any business. While accounting is a broader and analytical term, bookkeeping is its subdivision and just a part of it. Here�s highlighting the differences between the two.
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