Accounting in India

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 to gain a general idea as to the amount of leverage being used by a entity. Know more about Debt service…

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. An accountant has several roles and…

Accounting Equation: The accounting equation that is the foundation of double entry accounting. The accounting equation displays that all assets are either financed by borrowing money or paying with the money…

Cash Basis Vs Accrual Basis of Accounting, We all have heard about the cash basis & accrual basis of Accounting, but here we will do a detailed analysis of these two forms of Accounting. We will study about what these two forms of…

Difference between Book Keeping and Accounting with Meaning: Book-keeping is an activity concerned with the recording of financial data relating to business operations in a significant and orderly manner. It covers procedural aspects…

Various Types of Vouchers In Accounting, Be it vouching or passing an entry or maintaining regular books of accounts, the knowledge of vouchers & its types is very important. You must know what a voucher is & what are the various…

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 technique shows how an investment project affects company shareholders’…

Ind AS 8 : Accounting policies, estimates and correction of errors play a major role in the presentation of financial statements. That is why Ind AS 1 states that an entity cannot rectify inappropriate accounting policies either by…

IndAS 10 Event Occurring After the Reporting Period. The Standard requires that an entity should not prepare its financial statements on a going concern basis if events after the reporting period indicate that the going concern assumption…

Sub Fields of Accounting, Types or branches of accounting. Accounting is a system meant for measuring business activities, processing of information into reports and making the findings available to decision-makers. The documents, which…

Double Entry System Advantages & Disadvantages: Any business transaction involves at least two accounts which we call as Debit and credit. As said above , double entry system assumes every transaction has two aspects Debit and credit.…

IndAS 1: Presentation of Financial Statement, In India Presentation of Financial Statement is always governed by Companies Act instead of Accounting Standard. Earlier there is Schedule VI, now Schedule III is there for…