accounting standards in brief


Applicable Material for IPC and Final Course - May 2018 Exams Old Scheme

Applicable Material for Intermediate IPC and Final Courses Old Scheme INTERMEDIATE IPC COURSE Eng Edition applicable for May 2018 Intermediate IPC Exams Accounting Study Material Module 1 to 2 July 2015 alongwith RTP May 2018 and Supplementary Material on AS 10 Revised Hosted on the website link htt

MACS adopts Secretarial Standard issued by ICSI

Malaysian Association of Company Secretaries MACS to adopt the Secretarial Standards issued by the Institute of Company Secretaries of India ICSI as the benchmark The Ministry of Corporate Affairs has approved a request of the Malaysian Association of Company Secretaries MACS for adoption of the Sec

Accounting treatment for property, plant and equipment

Indian Accounting Standard Ind AS 16 Property Plant and Equipment prescribe the accounting treatment for property plant and equipment so that users of the financial statements can discern information about an entitys investment in its property plant and equipment and the changes in such investment T

Issues arising from implementation of MAT on IAS compliant companies

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Issues arising from the implementation of Minimum Alternate Tax MAT provisions relating to Indian Accounting Standards Ind AS compliant companies Finance Act 2017 amended the provisions of section 115JB of th

Change in MRP on unsold stock prior to implementation of GST till 30th Sep

Shri Ram Vilas Paswan briefs about the recent decisions taken by Ministry of Consumer Affairs Food Public Distribution Government decides to continue the same issue prices for food grains under the National Food Security Act till June 2018 Shri Ram Vilas Paswan Department of Consumer Affairs allows

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Accounting treatment of racing horse by a co.

If a company owns purchases horse for racing purpose how will it treated in books of accounts Fixed Assets Current Assets Investments If it is treated as Fixed Assets how depreciation will be calculated or at what rate Normally a horse can run for 6 to 7 years Awaiting advice Pinaki

Accounting and Tax Query

Hi how would a trust recognize foreign grants in it s books of accounts and also what would be the tax treatment Kindly help Thank you

Please reply in brief

counter party submit status NO GSTR 2A

Accounting entry

my dear sirs I am going to enter accounts in tally for the first time Previously it was handled manually Its a individual account who gives loan to others and earns interest as income can you guide me step by step procedure

Accounting entry

Hello Everyone I have a Question related to E commerce Business Amazon Flipkart I am facing a problem for selling entry posted in Tally that Number of sale entry is very large can u suggest me that can i sale entry posted in tally on monthly basis or per transaction basis if i can sale entry on mont


Accounting for f & o trading

Good morning sir How to do accounting for F and O for the purpose of book keeping and what are the documents required

How many importnat accounting standard are there in india?

Dear All i want to know the important accounting standard as i preparing for job interview Please help me out Thanks Ankur

GST Impact & Accounting Entry for Trial Run Production

Facts 1 First Year of Production 20162 Oct 2017 entering into an agreement for production of new product 3 Party requested for Trial Run Production 4 FG produced in Trial Run not taken away by PartyQuestion 1 How to bill party under GST2 How to account for in BOA3 Whether FG from Trial Run lying in

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Trail Production Accounting & Impact

Facts 1 Year of Production 20162 Oct 2017 entering into an agreement for production of new product 3 Party requested for Trial Run Production 4 FG produced in Trial Run not taken away by PartyQuestion 1 How to bill party under GST2 How to account for in BOA3 Will FG from Trial Run lying in godown to

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Brief report of recommendations on corporate governance submitted to SEBI

Stock Exchange Board of India hereinafter referred as SEBI has setup up committee under the chairmanship of Shri Uday Kotak Executive Vice Chairman and Managing Director of Kotak Mahindra Bank on 2nd June 2017 to advice on issues relating to corporate governance The committee was further required to

A brief on report submitted by Kotak committee on corporate governance

The SEBI formed a committee on Corporate Governance in June 2017 under the Chairmanship of Mr Uday Kotak with a view to enhancing the standards of Corporate Governance of listed companies in India Committee has submitted its report on Corporate Governance on which SEBI seeks public comments by Novem

Reverse Charge Mechanism and Accounting Entries for RCM in GST

What is Reverse Charge Mechanism RCM Normally the supplier of goods or services pays the tax on supply In the case of Reverse Charge the receiver becomes liable to pay the tax i e the chargeability gets reversed Registration All persons procuring gods services notified above on which GST is payable

Accounting Entries in GST

Accounting Entries in GST Case I Local Intra state Purchase 18 Rs 1 00 000 Purchase A c Dr 1 00 000 Input CGST A c Dr 9 000 Input SGST A c Dr 9 000 To Creditors Bank A c 1 18 000 Sale 18 Rs 1 50 000 Debtors Bank A c Dr 1 77 000 To Sales A c 1 50 000 To Output CGST A c 13 500 To Output SGST A c 13 50

GST Exemption - Brief Understanding & Common Errors

It is essential for the government to issue certain exemptions and concessions considering the need of the economy and public policy for supporting certain initiatives and tax some highly to make up the revenues Tax exemptions and concessions have been used as an instrument of fiscal policy to stimu

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Updated on : 10/17/2017 4:45:27 PM

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