Accounts Articles

Impact of IFRS on Different accounting aspects

CA Raj Thakkar 23 August 2010 at 11:53

In Previous article I have disussed Impact of IFRS on Accounting Practise now I would like to go ahead with Impact of IFRS on Different Accounting Aspects. Here some important Items has been taken. Inventory Measurement At cost or net realizable

TAX BASE of an ASSET- I GAAP Vs. IFRS

Raja naga 23 August 2010 at 10:26

TAX BASE of an ASSET- Indian GAAP Vs. IFRS (Assuming the economic benefits that will flow to an entity when it recovers the carrying amount of the asset is taxable) Tax base of an asset as per IAS12 is “The amount that will be deductible

Exposure Draft of New Lease Accounting Standard

Vinod Kothari 21 August 2010 at 15:17

Exposure draft on Lease Accounting The end of finance-operating lease distinction All leases to come on the balance sheet Vinod Kothari It has been for several years (14 years approx) that the G4 +1 approach to lease accounting, linked to Aust

Ascertaining the Capital Requirements

CA S.SAIRAM 19 August 2010 at 11:18

ASCERTAINING THE CAPITAL REQUIREMENTS Fixed and Working capital assessments are a professional exercise which demands strong knowledge of business operation as well as finance. Working capital is the active portion of the capital for a business. It

Impact of adoption of IFRS on Accounting Practices

CA Raj Thakkar 19 August 2010 at 10:17

IMPACT OF ADOPTION OF IFRS ON ACCOUNTING PRACTICES Basic Concept Mix of historical cost and fair valuation. True and fair over-ride In extremely rare circumstances when management concludes that compliance with a requirement in an IFRS or an Inter

Statutory background for Royalty payment in India

CA S.SAIRAM 16 August 2010 at 11:56

Statutory background for Royalty payment in India The very nature of the term Royalty indicates a disguised share of profit and it is paid for acquiring a very valuable knowhow or technique that assists a person in nourishing his sales. Let us navig

Depreciation - Multifarious views and Court Judgements

CA S.SAIRAM 13 August 2010 at 11:07

Depreciation – Multifarious views and Court Judgements The common school of thought is that, the term ‘Depreciation’ is associated with the wear and tear of an object which has a useful life extending beyond the normal operating cy

Derivatives under IAS-39: A Bird Eye view

CA S.SAIRAM 06 August 2010 at 13:02

Derivatives under IAS-39: A Bird Eye view The word Derivative in common parlance means anything which has no identity or value of its own. Its value is based on the movement in value of another. In the context of financial instruments the term De

IFRS-Implementation

Dilip K Raina 03 August 2010 at 17:03

Possible impact on Revenue Recognition in Realty Sector-A viewAdopting, practicing and applying uniformity of the principles of revenue recognition to an industry on overall basis without much room for assumptions and willful adjustments is expected

IFRS: IMPACT IN THE ASSET ACCOUNTING CYCLE

CA S.SAIRAM 20 July 2010 at 13:45

IFRS: IMPACT IN THE ASSET ACCOUNTING CYCLE An asset accounting cycle is akin to our Working capital cycle. It comprises of a purchase or in house production, consumption for business or capital appreciation and final disposal. This article envisag