Accounting

Ind AS 104, Insurance Contracts: The objective of Ind AS 104 is to specify the financial reporting for insurance contracts by any entity that issues such contracts (described as an insurer). In particular, this Ind AS…

Accounting Standard 15: Accounting for Retirement Benefits. Accounting Standards (ASs) are written policy documents issued by the Government with the support of other regulatory bodies (e.g., Ministry of Corporate Affairs (MCA) issuing…

Ind AS 37, Provisions, Contingent Liabilities and Contingent Assets : The objective of Ind AS 37 is to ensure that appropriate recognition criteria and measurement bases are applied to provisions, contingent liabilities and…

Journal: A journal is often referred to as Book of Prime Entry or the book of original entry. In this book transactions are recorded in their chronological order. The process of recording transaction in a journal is called as…

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 the principles for recognition and measurement in complete or condensed financial…

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 his business would like to know whether his business is making a…

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 are bound to have different ideas and the estimates…

Accounting Cycle: When complete sequence of accounting procedure is done which happens frequently and repeated in same directions during an accounting period, the same is called an accounting cycle. Accounting cycle starts from…

Ind AS 40, Investment Property : The objective of Ind AS 40 is to prescribe the accounting treatment for investment property and related disclosure requirements. Investment property is property (land or a building - or part of a…

IndAS 23 Borrowing Costs: Definition, Scope, Treatment, Disclosure: It is quite common where an entity borrow funds for meeting its various business needs like acquisition of building, day to day operations etc. On such borrowed funds an…

Accounting Concept: Accounting concepts are defined as basic assumptions on the basis of which financial statements of a business entity are prepared. They are used as a foundation for formulating various methods and procedures for…

List of Tally Ledgers Groups List: (Ledger under Which Head). check complete list of tally ledgers created under group list of Tally ERP 9 AND Earlier tally versions. tally ledger under group list in hindi, Ledgers are…