Accounts Articles
International Financial Reporting Standards
International Financial Reporting StandardsInternational Financial Reporting Standards (IFRS) the new avatar of International Accounting Standards (IAS) are issued by International Accounting Standards Board (IASB). This role was earlier discharged b
Sanctity of Accounting Standards
Under section 145 of the Income-tax Act, 1961, certain accounting standards have been made mandatory while computing the taxable income. However, this has been challenged by certain Companies on the ground that the mandatory provision is unconstituti
EVA
EVA (Economic Value Added) EVA (Economic Value Added) was developed by a New York Consulting firm, Stern Steward & Co in 1982 to promote value-maximizing behaviour in corporate managers (O'Hanlon. J & Peasnell. K, 1998). It is a single, value
The importance of Accounting
The Importance of Accountancy Asish K Bhattacharyya Initially,when I started to teach at a reputed business school, I was dismayed bythe fact that an average MBA student who does not want to specialise inFinance is quite happy if she can obtain a
Accounting savvy a ticket to the world
Now with Engineers Without Borders, Malcolm McArthurchose a profession that took him from Kabul to the streets of Rio deJaneiroFunny, that a man with a mind for mathematics should end up living his life guided by serendipitous signs.Thefirst sign cam
Accounting for Employee Stock Option Plan [ESOP]
Securities and Exchange Board of India issued ESOP guidelines in 1999. The idea behind this was to reward and motivate employees for their commitment and hard work. SEBI defines employee stock options as ¡§option given to the whole-time directors, of
Win or Loose The option is Your's
The turnaround in the Indian economy has paved way for new & sophisticated Financial instruments to mark their arrival on the scene, thereby broadening the "Investors' Basket". In the year 2000, the Indian capital markets welcomed one of such ins
Exposure draft on AS 12
The Institute of Chartered Accountants of India (ICAI) has come up with the exposure draft on AS 12(revised). AS 12 (exposure draft) deals with accounting for Government grants and disclosure of Government assistance. AS 12 deals with the accounting
Accounting as a "Language of Business"
Accounting as a "Language of Business" communicates the financial results of an enterprise to various users. It is pertinent that in order to evaluate the financial results of the enterprise one has to compare the financial status of an entity with
AS 28 impact on OIL & GAS companies
D MuraliEven as the field personnel of oil andgas (O&G) companies continue to battle with many complexities toget us the fuel, their accounting colleagues are toiling with adifferent difficulty: how to apply the Accounting Standard on assetimpair
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