Accounts Articles

Preparation of Cash Flow Statement

RaGHuRaM 29 May 2012 at 14:08

Cash flow statement.As the name itself indicates the statement which only deals with inflow and outflow of cash (and cash equivalents) during the accounting year. Our work is to classify those inflows and outflows into three activities namel

Compulsory Convertible Instruments under Revised Schedule VI

Sanjay Chauhan (IFRS) 10 May 2012 at 11:15

Facts of the case Indian Entities have issued Foreign Currency Compulsory Convertible Bonds / Compulsory convertible debentures. How should the same be classified under revised Schedule VI? Revised Schedule VI Excerpt from Guidance

International Financial Reporting Standard (IFRS): Principle based Standard

Sanjay Chauhan (IFRS) 09 May 2012 at 11:46

IFRS are considered a "principles based" set of standards that establish broad rules for accounting.Rules-based standards such as US GAAP have an accounting rule for almost every type transaction. There are various oversight bodies whose objective is

Cost Compliance Report and Applicability On New Industries

CMA Navneet Kr Jain 03 May 2012 at 12:45

Cost Compliance Report and Applicability On New Industries for the year 2011-12: From the year 2011-12 onwards many companies have come under the purview of Section 209(1)(d) of the companies Act

Deferred Tax in Simple Words - PART II

Vignesh Killur 02 May 2012 at 11:22

The Day is 1st of April 2001; the Indian Accounting Fraternity is introduced to the concept of Deferred Tax. Accounting for Taxes on Income (AS 22) is applicable to different categories of enterprises from different dates. TABLE 1.

Books of Account u/s 209 of the Companies Act,1956

G S Rao 05 April 2012 at 10:50

Introduction Section 209 is one of the most important sections in the Companies Act, 1956. This section deals with the requirements of maintenance of books of accounts and penalties for non compliance. A detailed analysis of the provisions of Sect

Revised Schedule VI - Paradigm shift and Impact

CA S.SAIRAM 03 April 2012 at 11:04

The Revised Schedule VI which is to come with effect from 1.4.2011 is intended to mandate a presentation format which will facilitate showing what would have been accounted under the upcoming I

IFRS- Impact on Country's GDP

CA S.SAIRAM 02 April 2012 at 11:17

IFRS: Impact on the Countrys GDP IFRS (International Financial Reporting Standards) is not just a corporate subject but something which is of national interest. As the world turns into a Global village it is difficult for a co

Basic - Operating and Finance Lease

RAHUL GANDHI 31 March 2012 at 14:52

LEASE (FINANCE AND OPERATING) AS -17 Definition:- Finance Lease :- A finance lease is a lease that transfers substantially all the risks and rewards incidental to ownership of an asset. Title may or may not eventually be transferred. In other wor

About Revised Schedule VI

Naveen Chand Khulve 31 March 2012 at 14:52

Ministry of Corporate Affairs has amended the schedule VI which is required to be implemented by the companies from Financial Year 2011-12 along with regrouping last year figures. Following are the changes in Revised Schedule VI.