Accounts Articles

VALUE ADDED STATEMENT

Posted by CA Lalit Mohan Agarwal 25 June 2009 165829 Views

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

AS - 11 notification

Posted by Sarvesh Ramachandran 09 June 2009 21505 Views

Has India Inc been finally blessed with an amendment that could clear the smoke screen that is being created by the unprecedented volatility in the currency market?There used to be a time when the Indian rupee gained considerably against the U.S doll

Construction Contracts (IAS-11)

Posted by CA. Amit Daga 05 June 2009 15892 Views

Construction Contracts (IAS-11)A Construction contract is defined in IAS 11 as “ …A contract specifically negotiated for the construction of an asset or a combination of assets that are closely interrelated or interdependent in terms o

How a Tata Motors unit turned around with Balanced Scorecard

Posted by Admin 11 May 2009 18251 Views

Author : Suresh Lulla/DNAPerformance measurement, analysis and review are critical steps in an organisation's progress towards its goals and vision. The objective of performance measurement is to steer the company to goal attainment, and enable it to

Some Differences between IFRS and AS

Posted by CA. Amit Daga 26 March 2009 22569 Views

Differences v DividendsØ Dividends are classified as a financial liability and are reported in the income statement as an expense. If dividends are declared subsequent to the balance sheet date, it is not recognised as liability. (I

IFRS Challenges

Posted by CA. Amit Daga 24 March 2009 13612 Views

IFRS - Challenges n Major Challenges : v Shortage of Resources With the convergence to IFRS, implementation of SOX, strengthening of corporate governance norms, increasing financial regulations and global economic growth, acc

IAS 32 Financial Instruments

Posted by CA. Amit Daga 24 March 2009 8079 Views

IAS 32 Financial Instruments - Definition v A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entityv The financial instr

Why IFRS.. Introduction

Posted by CA. Amit Daga 22 March 2009 8761 Views

Why IFRS? Ø Numero-uno accounting framework with global acceptance.Ø Business going global, more cross border transactionØ Access to international capitalØ Single global financial reporting language&O

List of IFRS

Posted by CA. Amit Daga 22 March 2009 19603 Views

The following IFRS statements are currently issued:IFRS 1 First time Adoption of International Financial Reporting Standards IFRS 2 Share-based Payment IFRS 3 Business Combinations IFRS 4 Insurance Contracts IFRS 5 Non-current Assets Held for Sale an

AS-22 An IMPORTANT GLANCE

Posted by pappu mishra 06 December 2008 16723 Views

AS-22: ACCOUNTING FOR TAXES ON INCOME Meaning and Glance to Its Recognition, Presentation & Disclosures. MEANING: Taxable income is calculated in accordance with tax laws. In some circumstances, the requirements of thes