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Implementation Guide to SA 720 (Revised), “The Auditor’s Responsibilities relating to Other Information”

In the year 2018, ICAI issued SA 720 (Revised), The Auditor’s Responsibilities Relating to Other Information. The Standard is applicable for audits of financial statements for periods beginning on or after April 1, 2018. The Standard casts a new reporting requirement on the auditors of listed entities and corporate entities to include a...

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Posted Under: CA, CS, CMA |

UDIN- Governance for Company Secretaries (CS)

UDIN- ICSI Unique Document Identification Number [1]In exercise of the powers conferred by clause (1) of Part II of the Second Schedule to the Company Secretaries Act, 1980 as amended by the Company Secretaries (Amendment) Act, 2006. The council member in its 261st meeting held on 27th June, 2019 issued Unique Document Identification Numb...

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Posted Under: CA, CS, CMA |

UDIN & eCSIN for Company Secretaries

UDIN 1. MEANING: It stands for UNIQUE DOCUMENT IDENTIFICATION NUMBER. The UDIN is an 18-Digit system generated number and it has the following format: For E.g.: 19A58903AKTSBN1659 First 2 Digits Last 2-Digit of the Current Year (in this case 19) Next 6 Digits ICSI’s Membership No. i.e., AAAAAA (in this case A58903) Next 10 Digits [&hell...

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Posted Under: CA, CS, CMA |

Simple Version of IND-AS-16 & IAS 16-Property, Plant & Equipment

A SIMPLE VERSION OF INDAS-16 AND IAS 16 -PROPERTY,PLANT AND EQUIPMENT The relevant Accounting Standards relating to Property, Plant and Equipment are the following:- 1. AS-6, AS-10 2. INDAS-16 3. IAS-16 There is no major difference between INDAS-16 AND IAS-16.So the following details relate to both INDAS-16 and IAS-16. Property, Plant and...

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Posted Under: CA, CS, CMA |

CA Result Negative -So What ?

CA Result out yesterday. I know those who have cleared, there were tremendous happiness and it should be. It’s a life time achievement. However, those who have not cleared yet like mine have number of feelings like sorrow, guilt and many more. Not getting cleared means not a failure at all. Failure happens when you […]...

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Posted Under: CA, CS, CMA |

A Quick Snapshot of AS/IND-AS/IFRS

A Quick  Snapshot of Concepts of AS/IND-AS/IFRS  Accounting standards deal with recognition of events and transactions, measurement of transactions and events, presentation of transactions and events and disclosure requirements. In India ICAI issues accounting standards on the relevant subject for non-corporate bodies and The Central Go...

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Posted Under: CA, CS, CMA |

Analysis on accounting of interest free demand loans received under Ind AS / IFRS

Accounting of Interest free demand loan given by One Company to Other Company which may or may not be related party- Entity generally advances various demand loans / Inter Corporate Deposits (ICDs) to various parties on commercial terms and sometime entities does not charge any interest or charge an interest, which is below market rate....

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Posted Under: CA, CS, CMA |

Get CA Exam Answer Sheet copies at Rs. 2 per page under RTI

Now CA students and members get Answer Sheet copies at Rs. 2 per page under RTI : Supreme Court Orders! RTI Act is the most revolutionary act for setting out the practical regime of Right to Information, the 3 Key building pillars behind the act are Responsibility, Transparency and Accountability, which empowered Indian Citizens to [&hell...

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Posted Under: CA, CS, CMA |

Requirements to become a Chartered Accountant

1. Through Foundation Course route: (i) Enrol for Foundation Course after appearing in Class 12th Examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto. (ii) Complete four months Study Period. Register till 30th June/ 31st December for being elig...

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Posted Under: CA, CS, CMA |

Why Knowledge Sharing Required in Corporate/ any other Field

Knowledge sharing is essential for a company to achieve success, since it can facilitate decision-making capabilities, build learning organizations (through a learning routine) and finally, stimulate cultural change and innovation....

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Posted Under: CA, CS, CMA |