Accounts Articles
The bottleneck is at the top of the bottle
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
WHY IFRS?
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
What is IFRSs and IFRSs for SME
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
Accounting for derivatives
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
IAS 39 HEDGE ACCOUNTING ( IN A DIFFERENT FORMAT )
IAS 39 Financial Instruments: Recognition and Measurement Issued in March 1999 Revised in December 2003 Recent amendment: by IFRS 3 revised in January 2008 Financial Instruments
AS 30 HEDGE ACCOUNTING
ACCOUNTING STANDARD (AS) 30Financial Instruments: Recognition and MeasurementHedge accounting Definitions Relating to Hedge Accounting 8.14 A firm commitment is a binding agreement for the exchange of a specified quantity of resources at a specifie
IASB Framework
IASB Framework The International Accounting Standards Committee Foundation (IASC Foundation) Constitution mentions about the IASB Framework twice, once in paragraph 29 and another in paragraph 43. Paragraph 29 of the IASC Foundation Constitution
IAS 18 -- Revenue Recognition
The article makes an effort to understand basic concepts of “Revenue recognition” as stated by IAS 18 in a question and answer mode. IAS 18 -- Revenue Recognition What is “Revenue” ?Revenue is the gross inflow of economic be
EARNING PER SHARE as per AS 20
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VALUE ADDED STATEMENT
Value Added Statement Value Added Statement may be called the part of the development in the financial reporting but the concept of Value Added is considered old. Accountants in UK have periodically deliberated upon that the concept should be incorp
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