Accounts Articles
Scam Management - Does IFRS brings check over it?
Everybody in India now knows what is scam? But not everybody knows IFRS. Here is an attempt to highlight how IFRS highlights scams. Let us take some examples how following scams IFRS can highlight well in time. Spectrum scam - Spectrum is an intan
Taxation Issues Coupling with IND AS
The CBDT is mounted with a herculean task of resolving the conflicts in tax law vis--vis the new born Ind AS which is set to hit the Indian economy with a flurry of technical standards. Challenges inh
Accounting Practices in Construction & Infrastructure Industry (Part-2)
Introduction: In Continuation of my first part, we will discuss about accounting practices in the Construction & Infrastructure Industry
Roadmap for Cost Records preparation under new regime
Sub: Roadmap for Cost Record Maintenance / issue of Compliance Certificate under Companies (Cost Accounting Record Rules) 2011. After the issue of new notifications on 02/05/2011, 03/05/2011, 03/06/2011& 30/06/2011 the companies are required
A comparative study of AS and Ind-AS Consolidation of Financial Statement
A comparative study of AS and Ind-AS Consolidation of Financial Statement Issue As per Ind-AS As per Existing AS Consolidation Consolidation has to be done by every comp
Accounting practices in Construction & Infrastructure Industry (Part-1)
Introduction: In current Indian scenario Construction & infrastructure industry is one of the biggest industries and also one of the major employments providing as well as economically much viable industry also. Such a service
Accounting by Real Estate Developers
The total Cost can be divided under the following Cost Centers: Project Cost Centre (PCC) Specific Costs Head Office Cost Center (HOCC) Common Costs and Administration and Selling Costs
Exemption from disclosing in P&L A/c u/s 211
Exemption to certain classes of companies from disclosing in their profit and loss account from certain information in terms of Part II of Schedule VI [Ref: Notification No. S.O. 301(E), dated 8th February, 2011 and F. No. 51/12/20
Exemption to PFIs specified u/s 4A of the Companies Act
Exemption to PFIs specified u/s 4A of the Companies Act, 1956 from disclosing investments as required under Paragraph (1) of Note (l) of Pat-I of Schedule VI in their balance sheet [Ref: Notification No. S.O. 300(E), dated 8th February 201
IFRS with Indian AS
I.Indian Accounting Standards already issued by the Institute of Chartered Accountants of India (ICAI) corresponding to the International Financial Reporting StandardsAS 1 is based on the pre-revised IAS 1. AS 1 is presently under revision to bring i
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