Accounts Articles
Indian accounting standards converged with IFRS (Ind AS)- An Overview
The world is getting smaller and smaller,globalization has made it possible to accept the world as one market. For better understanding of the business reporting and consistency in accounting policies, there was an urgent need to align to one global
Material Procurement - Inventory levels & EOQ
Material Procurement Inventory Levels & EOQAn important function of Stores is to requisition materials for replenishment. The following tools help Stores to maintain required inventory and to guide on reorder quantity:Let us discuss each
Introduction of IND AS Framework
Framework for preparation and presentation of financial statements in accordance with IND AS Purpose Sets out the concepts for preparation and presentation of financial statements in accordance with IND AS Assist in development of future Indian Acc
Stage now set for implementing Accounting Standards converged with IFRS
Ministry of Corporate Affairs has finally announced the Companies (Indian Accounting Standards) Rules, 2015 for applicability of Accounting Standards converged with IFRS. A notification in this regard has been issued on 16th February, 2015. Important
Path towards IFRS
INTRODUCTION Since the advent of internet, the world has shrunk, distances have lost their importance and information has no more remained the differentiating factor in this global arena. Globalization-the BUZZWORD has
Ind AS 2 - Inventories
1. Objective: a) Deals with the determination of cost ,b) Subsequent recognition as an expense , including any write-down to NRV ,c) Guidance on the cost formulas that are used to assign costs to inventories.2. Scope: This Standard applies to all inv
Ind AS applicability
Indian Accounting Standards (Ind As)As we all know that as per Notification of Ministry of Corporate Affairs on 16th February2015 Ind As has came into force. They shall come into force on the 1st day of April, 2015. I have gone through the notificati
IFRS 15: Revenue recognition from contracts with customers
IFRS 15: Revenue recognition from contracts with customers - Major changes in the offing for some industriesA new Standard, laying down revised guidance for recognising revenue from contracts with customers has been introduced by International Accoun
IND AS 7 vs AS 3
Ind AS 7 and existing AS 3The objective of IND AS 7 is to require the provision of information about the historical changes in cash and cash equivalents of an entity by means of a statement of cash flows which classifies cash flows during the
Comparison of IND AS 2 and existing AS 2
Ind AS 2 and existing AS 2 The principles laid down in Accounting Standard (AS) 2, Valuation of Inventories, are well established and the principles laid down in Ind AS 2, Inventories, are almost similar to the pr
Popular Articles
- Post Office Interest Rates From October 2026: Check the Latest Rates of All Schemes
- New UPI Rules Starting From 15th October 2026: Complete Fee Structure for Transactions
- Post Office Fixed Deposit Interest Rates: Latest Update for October 2026
- Minimum Balance in SBI Savings Account Rules 2026: How Much Balance Do You Need?
- Tax Audit Deadline AY 2026-27: Penalty for Missing 30 September and Why an Extension Request Isn't an Extension
- TDS on Purchase of Property: New Reporting Rules From 1st October 2026
- TDS on Contractor for FY 2026-27: Rates, Limits, New Rules, Examples & Compliance Guide
- New Tax Regime FY 2026-27: Complete Slab, Rebate & Marginal Relief Reference
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
