Accounts Articles

Specific Issues in Revised Schedule VI - Part - II

Posted by CA Sourabh Agarwal 08 October 2012 33426 Views

In continuation of earlier article on topic Specific Issues in Revised Schedule VI, I am now here to discuss certain issues on Assets Side of Balance Sheet. Here we have a residual head named as Other Non Current Assets&

Finalization of Balance Sheet (Practical Aspect)

Posted by SANYAM ARORA 05 October 2012 136195 Views

Greetings of the day to all the members of CCI Family. INTRODUCTION In this Article I will be discussing about some vital issues which arise while finalizing the Accounts. There are some points

Specific Issues in Revised Schedule VI

Posted by CA Sourabh Agarwal 26 September 2012 40191 Views

Financial year 2011-12 has elapsed and nearly all companies have prepared there financial statements in accordance with revised Schedule VI. With every change, lots of clarifications and guidance material is made available to stakeholders, however,

Analysis of Clarification issued by MCA Dated 9-8-2012

Posted by Nirmal Shah 01 September 2012 54764 Views

Accounting treatment of Foreign exchange fluctuation (Forex) is covered under various standards as follows: AS 10 - Forex on liabilities for FA purchase etc, AS 11 - Forex on Monetary items, forward cover forex, forex on Long term monetary items e

Cash basis of accounting followed by non corporate entities

Posted by Vivek Hebbar 28 August 2012 102332 Views

Note on Cash Basis of Accounting followed by non-corporate entities in India Non-corporate entities in India may include an individual, a proprietory concern, a Hindu Undivided Family (HUF), a partnership firm, a LLP, a trust, etc. Unlike a

Functional Currency's consequential Impact on Deferred Tax

Posted by Sanjay Chauhan (IFRS) 27 August 2012 30914 Views

In continuation of my previous article, this article highlights the consequential impact of having two sets of functional currency (one for GAAP reporting and other Tax submissions) on deferred tax computation under Ind AS 12, which again is based

Revised Schedule VI - An Overview

Posted by Aravind.. 13 August 2012 56323 Views

What is the primary objective of a financial statement? A financial statement is the language of a business through which it communicates. It is a summary of the business performance for a defined period. A summary always req

Demand & Time Liability of Savings Bank Account

Posted by Member (Account Deleted) 09 August 2012 49927 Views

DEMAND AND TIME LIABILITY OF SAVINGS DEPOSITS DEMAND LIABILITY IS ONE WHICH IS DEMANDABLE AT ANY POINT OF TIME WHEREAS TIME LIABILITY IS ONE WHICH IS CORE PORTION AND NOT DEMANDABLE FOR A LONGER PERIOD. WHEN INTEREST ON SAVINGS DEPOSITS

Real Estate/EPC Contracts : Draft Guidance Note for Cost Records

Posted by CMA Navneet Kr Jain 09 August 2012 18401 Views

Real Estate/EPC Contracts : Draft Guidance Note for Cost Records By Navneet Kumar Jain, Practising Cost Accountant, Delhi Institute of Cost Accountants of India has recently released a draft guidance note on the maintenance of cost records in respec

Basic concepts of CMA data

Posted by CMA Ramesh Krishnan 30 July 2012 568132 Views

Basic concepts of CMA data Introduction: Credit Monitoring Arrangement (CMA) data is a very important area to understand by a person dealing with finance in an organisation. It is a critical analysis of current & projected financial statements