Ind AS 7 – Statement of cash flows, Applicability, Scope, Objective
Ind AS 7 Statement of Cash Flows – Ind AS 7 prescribes principles and guidance on preparation and presentation of cash flows of an entity
Accounting
Going Concern Concept – definition, explanation and examples
Going Concern Concept: The financial statements are normally prepared on the assumption that an enterprise is a going concern and will continue in operation for the
Capital Structure Meaning: What is? & Types of Capital Structure
Capital Structure Meaning: What is Capital Structure? & Various Types of Capital Structure. When we plan to invest in a project, we also need to
Accounting Principles, Accounting Concepts and Conventions
Accounting Principles : Accounting is a language of the business. Financial statements prepared by the accountant communicate financial information to the various stakeholders for decision-making
Activity Ratio: Meaning, Definition, Types, Importance, Purpose
Activity ratios indicate the efficiency with which a business uses its assets, such as inventories, accounts receivable, and fixed assets. Details for Inventory turnover ratio,
Difference between Capital Expenditure and Revenue Expenditure
Difference between Capital Expenditure and Revenue Expenditure: The following are the points of distinction between capital expenditure and revenue expenditure: The Revenue Expense relates to the
Accounting Equation: Formula of Accounting with Example
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
Ind AS 21, The Effects of Changes in Foreign Exchange Rates
Ind AS 21, The Effects of Changes in Foreign Exchange Rates: An entity may carry on foreign activities in two ways. It may have transactions in
Ind AS 10, Events after the Reporting Period | Ind AS 10 Vs AS 4
Ind AS 10: It is impossible for any company to present the information on the same day, as the day of reporting. There would always
Capital Profit and Revenue Profit, (check out detailed difference)
Capital Profit and Revenue Profit: Capital profit which is earned on the sale of the fixed assets, The profit which is earned during the ordinary course
AS 12 Accounting for Government Grants, Accounting Standard 12
AS 12 Accounting for Government Grants: This Standard deals with accounting for government grants. Government grants are sometimes called by other names such as subsidies,
Truth and Accounting Truth – A Detailed Analysis
Truth and Accounting Truth, here we are providing detailed analysis for Truth and Accounting Truth. Truth relates to the reporting of the occurrence or the
Ind AS 40 Investment Property – Objective, Classification
Ind AS 40 Investment Property. The objective of IndAS 40 is to prescribe the accounting treatment for investment property and related disclosure requirements. Investment property
Ind AS 32, Financial Instruments: Presentation – In Detailed
Ind AS 32, Financial Instruments Presentation: The objective of Ind AS 32 is to establish principles for presenting financial instruments as liabilities or equity and for
Impact of Financial Technology on Accounting & Auditing
With a dynamic industry environment, it is now a mandate for the organisations to invest time, money and efforts in adapting to the future way
Ind AS 8, Accounting Policies | Difference Ind AS 8 Vs AS 5
Ind AS 8, Accounting Policies, Changes in Accounting Estimates and Errors: Ind AS 8 specifies the criteria for selecting and changing accounting policies, together with
Ind AS 106, Exploration for and Evaluation of Mineral Resources
Ind AS 106, Exploration for and Evaluation of Mineral Resources: The objective of the Ind AS 106 is to specify the financial reporting for the exploration
Ind AS 108, Operating Segments | AS 17 vs Ind AS 108 (all detail)
Ind AS 108, Operating Segments: An entity shall disclose information to enable users of its financial statements to evaluate the nature and financial effects of the
Ind AS 20, Accounting for Government Grants, IndAS 20 Vs AS 12
Ind AS 20, Accounting for Government Grants and Disclosure of Government Assistance: This Standard shall be applied in accounting for, and in the disclosure of,
Sub Fields of Accounting, Types or branches of accounting 2021
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
Acid Test Ratio or Quick Ratio – Formula to calculate, importance
Acid Test Ratio or Quick Ratio.The basis for financial analysis, planning and decision making is financial statements which mainly consist of Balance Sheet and Profit
Ind AS 23, Borrowing Costs | Difference Between AS 16 & Ind AS 23
Ind AS 23, Borrowing Costs: Borrowing costs that are directly attributable to the acquisition, construction, or production of a qualifying asset form part of the cost
How to Read or Analyse a Balance Sheet – What is Balance Sheet?
How to Read or Analyse a Balance Sheet, My this article is about analysing the financials of any company which may be private limited company or
Comparison between Capital Expenditure and Revenue Expenditure
Comparison between Capital Expenditure and Revenue Expenditure, check out difference between capital Expenditure and Revenue Expenditure. Capital Expenditure: This represents expenditure incurred for the purpose
Concept Determining Working Capital Requirement (All Details)
Operating Cycle Concept: Concept Determining Working Capital Requirement, In today’s world, Operating cycle of Working capital is something that has acquired a huge importance and plays
Accounting Estimates – Meaning of Accounting Estimates with example
Accounting Estimates: Earlier we have learned how to measure a transaction, which had already taken place and for which either some value/money has been paid or
Ind AS 40, Investment Property | Recognition | Measurement | Cost
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
Features of the Ledger Account, The Features of Ledger Account
Features of the Ledger Account: After recording the transactions in the journal, recorded entries are classified and grouped into by preparation of accounts. The book
Accounting for Not for Profit Organisation, Accounting for Special Items
Accounting for Not for Profit Organisation, Check Accounting for non profit organisations, A Not for Profit Organisation prepares their financial statements in the following form: i)
Double Entry System Advantages & Disadvantages – Full Analysis
Double Entry System Advantages & Disadvantages: Any business transaction involves at least two accounts which we call as Debit and credit. As said above ,