Accounts Articles

Scope of Accounting in Small vs. Large Business

Posted by Ishita Ramani 01 October 2024 499 Views

In this article, we can explore how the scope of accounting differs in small as opposed to massive corporations and the elements that force those variations.

Embracing Sustainability: Voluntary Business Responsibility and Sustainability Reporting (BRSR) Benefits

Posted by CA Naveen Mallakunta 24 September 2024 160 Views

Voluntary adoption of Business Responsibility and Sustainability Reporting (BRSR) brings numerous benefits to organizations, enhancing their reputation, risk management, financial performance, and strategic decision-making.

Standardized Valuation Approach for Alternative Investment Funds (AIFs)

Posted by ValuGenius Advisors LLP 11 September 2024 298 Views

To address the inconsistency and potential manipulation in the valuation of investment portfolios of Alternative Investment Funds (AIFs), SEBI has implemented amendments to standardize valuation techniques.

Recession is Coming: A Financial Tsunami in the US; Citi Raises Concerns

Posted by Sachin 11 September 2024 480 Views

As the possibility of an economic recession in the US looms, global attention is now focused on the upcoming Federal Reserve meeting on September 17 and 18.

Case Study: Lease Rent Payment (Fixed or Variables)

Posted by FCS Deepak Pratap Singh 02 September 2024 347 Views

In the given case, payment of Rs 2 per bottle packed is variable is nature because the no. of bottle packed will vary.

Case Study: Change in Accounting Estimates And Errors Reporting

Posted by FCS Deepak Pratap Singh 29 August 2024 220 Views

In the given case, the retrospective restatement has no effect on the information in the balance sheet at the beginning of the preceding period (i.e., 1st April 2021). Therefore, PQR Ltd. is not required to present a third balance sheet.

Case Study: Short Term Leases

Posted by FCS Deepak Pratap Singh 26 August 2024 241 Views

Entity X (lessee) enters into a lease with Entity Y (lessor) for two assets namely, Asset A and Asset B, with 10 months non-cancellable term with an option to extend the lease for 5 months. The lease does not have a purchase option.

Handling Accounts Department - Key Points

Posted by Chhaviraj Joshi 24 August 2024 977 Views

This article enumerates a few points or habits that, if you cultivate them in your daily work as a CA, finance, audit, or tax professional, will definitely help you to complete the tasks assigned to you by the company, firm, or partner in a timely manner along with expected quality results.

RBI Action: Cheques to Be Cleared Within Hours - Key Highlights

Posted by Sachin 10 August 2024 1503 Views

The Reserve Bank of India (RBI) has announced that cheque clearance will now be completed within a few hours, compared to the current timeframe of two to three days.

Navigating Revenue Recognition: A Comprehensive Guide to IND AS 115

Posted by CA Sanat Pyne 25 June 2024 557 Views

The core principle of IND AS 115 is that revenue should be recognized to reflect the transfer of promised goods or services to customers in an amount that represents the consideration to which the entity expects to be entitled.