Accounts Articles

Role of artificial intelligence in accounting

Tanuj Chandra Saxenaa 10 December 2021 at 13:53

As Artificial Intelligence works for every industry, it certainly has a significant impact on the accounting and finance industries as well.

Go Global with the knowledge of IPSAS - Internationally accepted Accounting Language for Governmental Accounting

CA. (Dr.) Rajkumar Adukia 11 November 2021 at 09:31

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.

Maintenance of Books of Accounts

CA.R.S.KALRA 10 November 2021 at 10:07

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.

Hedge Accounting

Jerold Ferreira 08 November 2021 at 09:44

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.

IND AS 12: Income Taxes

Jerold Ferreira 04 October 2021 at 09:38

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.

Other Compressive Income in IND AS

Aniruddha Deshpande 29 September 2021 at 09:33

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.

IND AS 108 - Operating Segments

Sachin 21 August 2021 at 09:55

IND AS 108 - Operating Segments is important for the stakeholders to understand and evaluate the performance of a business. However, it is not a part of Schedule III, but a part of SEBI disclosure.

All about Ind AS 41

Sachin 20 August 2021 at 09:33

Ind AS 41 is applicable to biological assets relating to agricultural activity, agricultural produce up to the point of harvest and government grants relating to agricultural activity.

IND AS 105: Non Current Assets held for sale and discontinued operations

Sachin 20 August 2021 at 09:32

The objective of IND AS 105 is accounting treatment and disclosure of non current assets held for sale / discontinued operations and to inform the users of financial statements.

Analysis of IND AS 40 - Accounting and disclosure of investment property

Sachin 20 August 2021 at 09:32

Ind AS 40 is covered when an Investment Property is held under ownership and given on an operating lease and when the Investment Property is held under finance lease and given on an operating lease.