Ind AS 19, Employee Benefits, Difference Between AS 15 & IndAS 19
Ind AS 19, Employee Benefits are all forms of consideration given by an entity in exchange for service rendered by employees or for the termination of
Accounting
Ind AS 113, Fair Value Measurement | Definition | Market participants
Ind AS 113, Fair Value Measurement : Ind AS 113 applies when another Ind AS requires or permits fair value measurements or disclosures about fair value
Ind AS 115, Revenue from Contracts with Customers (Detailed)
Ind AS 115: The objective of Ind AS 115 is to establish the principles that an entity shall apply to report useful information to users
Suspense Account, What Is a Suspense Account? with Examples
Suspense Account: When a trial balance does not agree, efforts are made to locate errors and rectify them. However, if reason for disagreement of trail
Ind AS 2 – Inventories, Difference Between Ind AS 2 and AS 2
IndAS 2 – The objective of this Standard is to prescribe the accounting treatment for inventories. This Standard provides the guidance for determining the cost
Accounting Treatment Of TCS U/S 206c (1h) on Sale of Goods
Accounting Treatment Of TCS U/S 206c (1h): Every person, being a seller, who receives any amount as consideration for sale of any goods of the
Net Present Value (NPV): Meaning of NPV, How to Calculate NPV
Net Present Value (NPV): Present value of cash flows minus initial investments, The Net Present Value (NPV) method as an investment appraisal or capital budgeting
Ind AS 11, Construction Contracts | Ind AS 11 Vs AS 7
Ind AS 11, Construction Contracts: Ind AS 11 prescribes the accounting treatment of revenue and costs associated with construction contracts. Because of the nature of the
Cash Book – Meaning, Types of Cash Book, explanation, examples
Cash Book – Every business activity ultimately result in cash, therefore, recording of transaction involving cash must be recorded in a separate journal. This journal is
Ind AS 2, Inventories (all you need to know) | Ind AS 2 Vs AS 2
Ind AS 2: Inventories constitute a major portion of current assets of an entity. A primary issue in accounting for inventories is the amount of cost
Should Professional Accountants Care about Culture? Yes!
Should Professional Accountants Care about Culture? Yes!. Extensive rules and procedures alone are not enough to ensure appropriate conduct in the work place—the financial crisis of
Backorder – Importance, Backorder costs with Easy Example
Backorder: Placing an order for an item that is temporarily out of stock is called backordering. When you place an item on backorder we will
Ind AS 109, Financial Instruments | Scope | Recognition | Details
Ind AS 109, Financial InstrumentsThe objective of Ind AS 109 is to establish principles for the financial reporting of financial assets and financial liabilities that
Meaning of Accounting, Scope of Accounting, Types of Accounting
Meaning of Accounting: According to AICPA Accounting is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions
Rectification of Errors, Stages of Errors, Need for Rectification
Rectification of Errors: Every concern is interested in ascertaining its true profit and financial position at the close of the trading year. But inspite of the
Marginal Costing Introduction, Meaning and Calculation of P. V. Ratio
Marginal Costing Introduction, Meaning and P. V. Ratio. Be it CA IPCE or CA FINAL, or CS or CMA or professional work, Marginal Costing has occupied
Difference between Capital Receipts and Revenue Receipts
Difference between Capital Receipts and Revenue Receipts: Receipts which are not of revenue nature are capital receipts.The Receipts which are not received now and then
Accounts and its Classification, Types of Accounts (An Analysis)
Accounts and its Classification (Accounts Classification): The business transactions are recorded in accounts. An account is an individual record of a person, firm, or thing, an
Dual Aspect Concept – meaning, definition with examples
Dual Aspect Concept – Accounting is a language of the business. Financial statements prepared by the accountant communicate Financial information to the various stakeholders for
Ind AS 105, Non current assets held for sale and discontinued operations
Ind AS 105, Non current Assets Held for Sale and Discontinued Operations: The objective of Ind AS 105 is to specify the accounting for assets held
Accounting Standard 13 (AS 13) – Accounting for investments
Accounting Standard 13 – Accounting for investments (AS 13).This Standard deals with accounting for investments in the financial statements of enterprises and related disclosure requirements.
Relative Valuation: Definition, Steps, Drivers of multiple
Relative Valuation is an approach where an asset is valued not based on of its fundamentals (cash-flows, growth, and risk) but on the basis of
IndAS 7 – Statement of Cash Flows, difference between Ind AS 7 Vs AS 3
IndAS 7, Statement of Cash Flows: Ind AS 7 prescribes principles and guidance on preparation and presentation of cash flows of an entity from operating activities,
Trial Balance: features, objectives, methods of preparing
Trial Balance methods: A trial balance is a schedule or list of debit and credit balances extracted from various accounts in the ledger including cash
Ind AS 29, Financial Reporting in Hyperinflationary Economies
Ind AS 29, Financial Reporting in Hyperinflationary Economies: Ind AS 29 shall be applied to the financial statements, including the consolidated financial statements, of any entity
Beta – Calculation of Beta, Formula of Beta (Complete Details)
Beta Definition – Beta is a relative measure of volatility that is determined by comparing the return on a share to the return on the
Ind AS 101, First Time Adoption of Indian Accounting Standards
Ind AS 101, First Time Adoption of Indian Accounting Standards: The objective of Ind AS 101 is to ensure that an entity’s first Ind AS financial statements, and
Revenue Expenditure, What is Revenue Expenditure with Example
Revenue Expenditure: Expenses whose benefit expires within the year of expenditure and which are incurred to maintain the earning capacity of existing assets are termed as
Bridge Finance – Features, Introduction, Examples, Methods
Bridge finance is a type of short term loan which acts provides a financial assistance to meet the short term liquidity requirements. If you like
Debt Ratio – Debt service coverage Ratio: Meaning, Formula
Debt Ratio is one of the financial ratios which compares an entity’s total amount of debt to its total amount of assets, which is used