Accounts Articles
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
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
Comparison of IND AS 1 and existing AS 1
Accounting Standard 1 i.e. Disclosure of Accounting Policies deals with disclosure of significant accounting policies followed in preparing and presenting financial statements whereas IND AS 1 i.e. Presentation of Financial State
Accouning Standards vis-a-vis IND vis-a-vis IFRS
OVERVIEW:What is Convergence of Accounting Standards?What is IFRS?Convergence of Indian accounting standards with IFRSRole of ICAI in IND ASRole of SEBI in IND ASRole of Industry AssociationsAdvantages and Challenges after implementing IND ASFor bett
Joint Development Agreement - A Business Model - Part 2
In my earlier article Joint Development Agreement - A Business Model I had made an attempt to discuss the joint development agreement model and a broad view of tax implication under the Income T
Basic Provisions of Corporate Social Resposibility (CSR)
Basic provisions related to CSR Policy Corporate Social Responsibility requirementsAs per the Companies Act, 2013, section 135, every company having: 1. Net worth of rupees five hundred crore or more, or2. Turnover of rupees one thousand crore or mor
AS 17 Segment reporting (An Overview)
Why is it required ?For a clearer understanding of the performances of segments.Scope :For General Purpose Financial Statements or Consolidated Financial Statements. If Financ
Popular Articles
- Senior Citizen Saving Scheme From 1 July 2026 with 5 New Rules
- Income Tax Slab for Senior Citizens Above 60 Years for AY 2026-27: With Deductions, Rebates and Examples
- TDS on Cash Withdrawals 2026: Excess vs. Entire Amount
- Input Tax Credit Under GST: The One Provision Where a Buyer Pays for a Supplier's Default
- 143(2) Scrutiny Notice Received: What is it and How to Respond Online?
- New Interest Rates on Post Office Schemes from 1 July 2026
- Best Fixed Deposit Interest Rates 2026 for General and Senior Citizens: Check Which Bank Gives Higher Returns?
- F&O, Intraday and Share Trading Losses: How to Claim Maximum Tax Benefit Through ITR-3, Set-off and Carry Forward
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
