Accounts Articles

Ind AS 37 vis-a-vis AS 29

Posted by Raghu veer teja 31 May 2016 70044 Views

Due to globalization in the recent past, the world has become a global village. Many multinational companies have started expanding their business across various countries. Accounting frameworks of different countries provide

Most common mistake in Depreciation

Posted by Kishore 28 May 2016 22129 Views

Change in life of assets has been specified in new companies act 2013. However it does not suggested change in depreciation method. Hence there is no need to recalculate effect of depreciation from the period of asset inception for depreciation. Chan

Ind AS 16 quick review

Posted by Ankur Dudani 27 May 2016 19506 Views

Quich Review of IND AS 16IND AS 16 deals with Accounting & depreciation of property, plant and equipment which are covered by existing Accounting Standard 10 (Accounting for Fixed Assets) & AS 6 (Depreciation Accounting).1. Meaning of Fix

All about internal financial control (IFC)

Posted by CA Sumat Singhal 26 May 2016 291482 Views

What is Internal Financial Control (IFC)? (Sec 134) As per Section 134 of the Companies Act 2013, the term �Internal Financial Controls� means the policies and procedures adop

Practical Guide to Consolidation of Accounts

Posted by Vivek Agarwal 17 May 2016 150379 Views

"The more you learn, you learn that you still have lot to learn� Did you know? Before Companies Act 2013, only listed company was required to do Consolidation. AS 21 says that if a company is required to do consolidation then consolidation

Books of account

Posted by Member (Account Deleted) 04 May 2016 28363 Views

Books of Account etc. to be kept by CompanySection 128 of Companies Act, 2013Rules 2A, 3 & 4 of Companies (Accounts) Rules, 2014Sub-section 1 states1. Place of keeping Books of account -Books of account + other relevant books and papers + financi

Related Party disclosure under IFRS

Posted by CMA Ramesh Krishnan 25 April 2016 14180 Views

Current business scenario, the related party relationship are normal feature of any business, It may be through subsidiaries, joint ventures and associates, these kind of business arrangements generally affect the b

Hedge Accounting as per IND-AS

Posted by Rahul Magan 01 April 2016 66528 Views

Purpose of the Article:- Hedge accounting is a method of accounting where entries for the ownership of a security and the opposing hedge are treated as one. Hedge accounting attempts to reduce the volatility created by the repeated adjustment of a fi

Heads Up, Financial and Accounting Pros! Business Intelligence Tools Make a Difference

Posted by Arbuda Dave 26 February 2016 9956 Views

Every organization has to juggle information. Information and data come from every corner of the enterprise, and can include databases, data warehouses, best-of-breed systems, legacy systems, and specialized systems like ERP, HR, Finance, Accounting,

Accounting for Amalgamation(as per AS-14)

Posted by RINKU GAUR 18 January 2016 187907 Views

Accounting for Amalgamation(AS-14) In general meaning Amalgamation implies blending of two or more existing entities into one, during the blending process blended entities losing their identities and forming into one separate legal entity having its