CAclubindia 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

Resolutions in Company General Meetings

Avni Rathore 23 August 2010 at 11:53

Kinds of Resolutions in Company General Meetings Resolutions mean decisions taken at a meeting. A motion, with or without amendments is put to vote at a meeting. Once the motion is passed, it becomes a resolution. A valid resolution can be passed

Effects of Global Crisis on INDIAN ECONOMY

CA Raj Thakkar 23 August 2010 at 10:29

Introduction Emerging economies like India, China are not directly affected by factors which were responsible for crisis in developed economies. No doubt the cascading effect of said crisis have made situation worst. East Asians like Japan have be

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

GST - A boon or Bane

Omprakash Jain 21 August 2010 at 15:53

GST – A BOON OR BANE Everybody in the country is talking about the GST and everywhere it is said that GST will increase our GDP, boost our economy, etc., but at what & whose cost? There are a number of serious disadvantages of this syste

Constitutional validity of Service Tax remains questionable

MONISH BHALLA 21 August 2010 at 15:20

The Constitutional Validity of Service Tax has been challenged time and again. Recently, The Maharashtra Chamber of Housing Industry (MCHI) through their Writ Petition challenged the constitutional validity of the Finance Act 2010 seeking to amend

Service tax on rentals-government & judiciary define them

MONISH BHALLA 21 August 2010 at 15:20

Service Tax on renting of immovable properties was introduced from June 01, 2007 by insertion of section 65(105) (zzzz) in the Finance Act, 1994. The scope of this levy was examined by the Delhi high court in its judgment dated 18.04.2009 delivered

New Regulatory regime for Core Investment Companies

Vinod Kothari 21 August 2010 at 15:18

New regulatory framework for Core Investment Companies by Vinod Kothari and Team, Vinod Kothari & Company The issue as to whether non-depository companies, which are merely passive holding companies, meant for maintaining control over grou

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

Bank Branch Audit - at a Glance

Raghavendra Bhat 21 August 2010 at 15:16

The rapid advancement in information technology has revolutionised the Indian banking sector—perhaps one of the largest in the world as far as its extensive branch network is concerned. Not a day passes without a new ATM being opened or a new