Guide to accounting for financial instruments and derivatives All that stuff about AS 30, 31 and 32 Note of cautionWe would like to start this article with two notes of caution. First, AS 30, 31 and AS 32 are Indian accounting standards that corresp
The Core Group, constituted by the Ministry of Corporate Affairs for convergence of Indian Accounting Standards with International Financial Reporting Standards (IFRS) from April, 2011, that held its meeting on 11th January 2010 agreed that in view
ACCOUNTING ASPECTSICAI has already issued Guidance Note on Accounting for Self Generated CER’s & it is made effective from 01st July, 2009. It mainly focuses on recognition of CER’s in financial statements. Here, we’ll discuss
INTERNATIONAL FINANCIAL REPORTING STANDARDS (IRFS)-GLIMPSEDilip K RainaWith the opening of world economies and cross border investments the need for adoption of uniform accounting standards while preparing financial statements was felt prompting v
TYPES OF FINANCIAL ANALYSISFinancial statements are analysed by different parties for different purposed. The analysis is done from different angles. Accordingly, we can classify financial statement analysis into different categories as follows:1.
DEPRECIATION – A SOURCE OF FUND OR NOTv Arguments in favour of considering it as a source of fund1. Depreciation is considered as an expired cost. It is included within cost of goods sold. It is an allocated cost which is realised when go
Why IFRS?It is the bane of our nation that for very many important issues, there is hardly any debate. For example, year after year, budgets are passed with no meaningful discussions in the Parliament. The writ of the interested few runs riot, main
The bottleneck is at the top of the bottle The satirical yet succinct quote which forms the caption of this article is that of the celebrated management guru of all times, Peter Drucker, when he was driving home the point that the source of all ills
Scope of IFRSAll International Accounting Standards (IASs) and Interpretations issued by the former IASC (International Accounting Standard Committee) and SIC (Standard Interpretation Committee) continue to be applicable unless and until they are am
Derivatives are financial instruments that derive their value from changes in benchmark based on stock prices, interest rates, mortgage rates, currency rates, commodity prices or some other agreed upon base. Derivative Financial Instruments (DFIs) ca
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