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
Raju Choudhary
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
Conservatism Concept – meaning, definition with examples
Conservatism Concept – Conservatism states that the accountant should not anticipate income and should provide for all possible losses. When there are many alternative values of
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
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
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
Difference between Operating Leverage and Financial Leverage
Difference between Operating Leverage and Financial Leverage: The term leverage refers to an increased means of accomplishing some purpose. Leverage is used to lifting heavy
Why Should You Make Bike Insurance Renewal A Priority?
Bike Insurance: While coping with a busy schedule, it is sometimes challenging to keep track of all the essential tasks while prioritizing them accordingly. Especially
Accounting Policy – Meaning of Accounting Policy with different types
Accounting Policy – Accounting Policies refer to specific accounting principles and methods of applying these principles adopted by the enterprise in the preparation and presentation
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
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
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
Book Keeping Meaning – Introduction, What is ? (All Details)
Book Keeping Represent all documents in business which contains financial records and act as evidence of the transactions which have taken place. Book-Keeping is the science
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,
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
Ind AS 107, Financial Instruments: Disclosures (All you need to know)
Ind AS 107, Financial Instruments: Disclosures The objective of the Ind AS 107 is to require entities to provide disclosures in their financial statements that enable
Ind AS 16 – Property, Plant and Equipment | Ind AS 16 Vs AS 10
Ind AS 16 – Property, Plant and Equipment: The objective of IndAS 16 is to prescribe the accounting treatment for property, plant and equipment so that
Contingent Asset – meaning, definition, explanation with examples
A contingent asset may be defined as a possible asset that arises from past events and whose existence will be confirmed only after occurrence or
Ind AS 110, Consolidated Financial Statements (all you to know)
Ind AS 110, Consolidated Financial Statements : The objective of Ind AS 110, is to establish principles for the presentation and preparation of consolidated financial statements
Important Rules of LRS scheme for Indian Students Studying Abroad
You may wish to send money overseas to your children for their education expenses. Sure, you can do foreign currency exchange from the authorized banks