Ind AS 116, Leases: Difference Between AS 19 and Ind AS 116
Ind AS 116 sets out the principles for the recognition, measurement, presentation and disclosure of leases and faithful representation of the transactions by lessees and
Accounting
Limitations of Accounting, Disadvantages of Accounting (Detailed)
Limitations of Accounting, What are the Limitations of Accounting: Accounting is not fully exact: Accounting is influenced by the personal judgment in respect of various terms.People
Definition of Accounting, What is Accounting, Accounting Meaning
Definition of Accounting: Accounting is used by business entities for keeping records of their monetary or financial transactions. A businessman who has invested money in
Bills of Exchange & Promissory Notes – Key Difference Analysis
Bills of Exchange & Promissory Notes. Check Difference Between Bills of Exchange & Promissory Notes. Key Difference Between Promissory Notes & Bills of Exchange. Meaning
Accrued Liabilities – Meaning, Definition with Examples
An accrued liability is a current liability and it arises as a result of work performed and acknowledged by CSC but for which invoices are
Accounting Standard 16 (AS 16) – Accounting for Borrowing Costs
Accounting Standard 16 – Accounting for Borrowing Costs (AS 16). This Standard should be applied in accounting for borrowing costs. This Standard does not deal
Balancing Ledger Accounts, Ledger accounts balancing procedure
Balancing Ledger Accounts: Balancing of an account means the process of equalizing the two sides of an account by putting the difference on the side where
Basic earnings per share & Diluted earnings per share – Detailed
Basic earnings per share & Diluted earnings per share: An ordinary share is an equity instrument that is subordinate to all other classes of equity
What is Debit and credit explained with accounting equation
What is Debit and credit explained with accounting equation. We often come across the words Debit and credit in many situations like while reading accounting
Capital Receipts and Revenue Receipts, Check out Major Difference
Capital and Revenue Receipts: Capital receipts comprise of payments or contributions into the business by the proprietor, partners or companies towards the capital of the firm
Accounting Rate of Return / Average Rate of Return – All Details
Accounting Rate of Return / Average Rate of Return. Here we are providing complete details for Accounting Rate of Return or Average Rate of Return. In this
Material Requisition – What is?, Meaning, Procedure and Problems
Material Requisition – Meaning, Procedure and Problems. Meaning of Material Requisition, Everything you want to know about Material Requisition. Material requisition may seem like a
Ind AS 28, Investments in Associates and Joint Ventures
Ind AS 28, Investments in Associates and Joint Ventures: The objective of Ind AS 28 is to prescribe the accounting for investments in associates and to
Capital and Revenue Expenditure & Deferred Revenue Expenditure
Capital and Revenue Expenditure & Deferred Revenue Expenditure. Find Everything You want to know about Capital and Revenue Expenditure. Complete Guide of Capital and Revenue Expenditure.
Accounting Standard 10 (AS 10) – Property, Plant and Equipment
Accounting Standard 10 (AS 10) – Accounting for Fixed Assets. The objective of this Standard is to prescribe the accounting treatment for property, plant and
List of Ind AS vis-a-vis IFRS and AS with analysis, List of all IndAS
List of Ind AS Notified by MCA – Indian Accounting Standards. Ministry of corporate affairs issued list of Indian Accounting Standards (IndAS), Here we are
Users of Accounting Information, who can use accounting info
Users of Accounting Information: Accounting is of primary importance to the proprietors and the managers. However, other persons such as creditors, prospective investors, etc. are
Role of Accountant : Maintenance of Books of Accounts by Accountant
Role of Accountant: An accountant performs financial functions related to the collection, accuracy, recording, analysis and presentation of a business, organization or company’s financial operations.
Difference Between Convertible and Non Convertible Debentures
Difference Between Convertible and Non Convertible Debentures: Check What is the Difference between Convertible and Non Convertible Debentures. Debentures are the long term debt instruments issued
Difference Between Accounting, Auditing and Investigation 2021
Distinguish Accounting, Auditing and Investigation, Difference between Accounting Auditing and Investigation. In this article you can find everything you want to know about Investigation, auditing
Ind AS 37, Provisions, Contingent Liabilities and Contingent Assets
Ind AS 37: The objective of Ind AS 37 is to ensure that appropriate recognition criteria and measurement bases are applied to provisions, contingent liabilities and
Double Entry System Definition, Advantages of Double Entry System
Double Entry System of book-keeping has emerged in the process of evolution of various accounting techniques. It is the only scientific system of accounting. According
Petty Cash Book, Imprest System of Petty Cash (Advantages)
Petty Cash Book: Payments in cash of small amounts like traveling expenses, postage, carriage etc. are petty cash expenses. These petty cash expenses are recorded in
Rules of Debit and Credit, Concept of Debit and Credit Entries
Rules of Debit and Credit: The left hand side of an account is called the debit side; while the right hand side is called the
Corporate Frauds and Auditors Responsibility – An Analysis
Corporate Frauds and Auditors Responsibility , The Companies Act, 2013, has introduced several new reporting requirements for statutory auditors. Section 143(12) requires statutory auditors to
What is IASB, FASB, IFRS, Ind AS and US GAAP? with Difference
What is IASB, FASB, IFRS, Ind AS and US GAAP?. Every individual performs some kind of economic activity. A salaried person gets salary and spends
IND AS 36 Impairment of Assets – Applicability, Calculations
IND AS 36 Impairment of Assets: The objective of Ind AS 36 is to prescribe the procedures that an entity applies to ensure that its
Ind AS 34, Interim Financial Reporting | AS 25 Vs Ind AS 34
Ind AS 34, Interim Financial Reporting: The objective of Ind AS 34 is to prescribe the minimum content of an interim financial report and to prescribe
Ind AS 12, Income Taxes | Difference between IndAS 12 and AS 22
Ind AS 12, Income Taxes: IndAS 12 prescribes the accounting treatment for income taxes. For the purposes of this Standard, income taxes include all domestic and
How to Calculate Net Profit for Managerial Remuneration
How to Calculate Net Profit for Managerial Remuneration, An special article on How to Calculate Net Profit for Managerial Remuneration & CSR.profit under section 198, In