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method of accounting

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Revenue Recognition Methods for Real Estate Developers

CA, CS, CMA : This study examines the appropriate methods for building construction and the sale of plots in a township, considering the positio...

July 1, 2024 594 Views 0 comment Print

Accounting for Bonus Shares: A Comprehensive Guide

Finance : Learn the detailed accounting procedures for issuing bonus shares, including necessary journal entries and their impact on financi...

May 31, 2024 726 Views 0 comment Print

Accounting of Premium on Redemption of Debentures/Preference shares

CA, CS, CMA : Learn about premium on redemption in finance, its formula, accounting treatment, and implications. Understand how it affects cash ...

April 27, 2024 2778 Views 0 comment Print

Understanding the Scope Of Accounting

CA, CS, CMA : Discover the broad scope of accounting across industries, from businesses to individuals, and its pivotal role in financial manage...

April 22, 2024 777 Views 0 comment Print

Capitalization of Expenses: Meaning, Types and Impact

CA, CS, CMA : Discover the meaning of capitalization of expenses, types of expenses capitalized, criteria for capitalization, treatment in finan...

April 21, 2024 2454 Views 0 comment Print


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Free Webinar on Foreign Accounting & Bookkeeping

CA, CS, CMA : Join our free webinar on foreign accounting and bookkeeping, led by expert CA Sachin Jain. Learn about opportunities, techniques, ...

September 4, 2023 6207 Views 0 comment Print

Criteria for classification of Non-company entities for AS applicability

CA, CS, CMA : The Council, at its 400th meeting, held on March 18-19, 2021, considered the matter relating to applicability of Accounting Standa...

April 1, 2021 120117 Views 1 comment Print

Temporary Exceptions to Hedge Accounting for Derivative Contracts

CA, CS, CMA : Announcement providing Temporary Exceptions to Hedge Accounting prescribed under Guidance Note on Accounting for Derivative Contra...

April 1, 2021 789 Views 0 comment Print

Money laundering and scams “THROUGH” Multi-State Urban Cooperative Credit Societies, Angadia’s & Banks in India/Abroad – Gems & Jewellery Industry

CA, CS, CMA : ICAI Research paper on Money laundering and scams THROUGH Multi-State Urban Cooperative Credit Societies, Angadia’s & Banks in I...

February 17, 2021 1368 Views 0 comment Print

Money Laundering & Scams “THROUGH” Multi-State Urban Cooperative Credit Societies In India – Cash Deposits

CA, CS, CMA : The Credit Co-operative societies have misused various gaps of the system over period of time by tapping various regulations for c...

February 17, 2021 1458 Views 0 comment Print


Latest Judiciary


Method of accounting can be changed if such change is bona fide and permissible under law

Income Tax : Change in method of accounting was bona fide and with the compliance of the Accounting Standard – AS 9 – Revenue Recognition i...

January 13, 2014 13361 Views 0 comment Print

Rejection of Accounting Method followed by Assessee which was accepted in Assessment of earlier Year

Income Tax : Method of Accounting regularly followed by the taxpayer which was accepted by the Tax Officer in past cannot be rejected in future...

February 1, 2011 1213 Views 0 comment Print

If book results are not rejected, AO has no alternative except to accept the book results

Income Tax : We find that at the time of survey the sample processing was carried out and according to the sample processing, the bi-products c...

January 23, 2011 1454 Views 0 comment Print

If AO assume concealment without considering the actual payments made in the subsequent years, such attempt would be premature

Income Tax : We have heard both the sides in detail. Thrust given by the C1T(A) on the mens rea reflected in the conduct of the assessee does n...

January 10, 2010 423 Views 0 comment Print

Change of method of accounting of overdue charges from mercantile basis to cash system does not create any income

Income Tax : In the instant case, learned counsel for the Revenue is not in a position to demonstrate or satisfy us that due to the change of a...

January 4, 2010 3151 Views 0 comment Print


Learn Golden Rules of Accounting

November 23, 2023 3975 Views 0 comment Print

Unlock the fundamentals of accounting with a focus on the golden rules—Personal, Nominal, and Real. Learn how to apply these principles to various accounts, from individuals to entities, expenses to incomes, and assets to losses. Explore real-world examples to understand the nuances of financial transactions and gain insights into the critical role accounting plays in business decision-making. Mastering these golden rules is essential for accurate financial reporting and strategic financial management. Delve into the heart of accounting and empower yourself for success in both practical scenarios and academic examinations

Are Accountant Jobs Under Threat Due to Accounting Automation?

November 21, 2023 2991 Views 2 comments Print

Are Accountant Jobs Being Threatened Due to Accounting Automation? Find Out What Experienced Accountants Have to Say About This Pressing Issue and How It’s Transforming Our Profession.

What are the benefits of maintaining Books of Accounts?

November 8, 2023 5673 Views 1 comment Print

Maintaining books of accounts is an ancient practice that provides businesses with many benefits. Find out what they are with this article. What are the benefits of Books of Accounts?

Debit and Credit in Banking and Accounting

November 8, 2023 2229 Views 0 comment Print

Dive into the world of debit and credit in banking and accounting. Learn what these terms mean, how they affect transactions, and their historical significance.

Cleaning & Maintenance of Books of Accounts on the occasion of Diwali!

October 30, 2023 21543 Views 1 comment Print

Discover legal requirements for maintaining financial records under various acts and how it relates to Diwali’s significance. Learn implications of non-compliance.

Understanding SOX Act: Impact, Penalties and Compliance

October 25, 2023 1563 Views 2 comments Print

Dive into the Sarbanes-Oxley Act (SOX) of 2002 with our in-depth guide, covering its background, reasons for enactment, and key provisions. Learn about the applicability to public and private companies, foreign entities, and the critical sections like 302 and 404. Explore the severe penalties for non-compliance under section 906 and gain insights into the PCAOB standards for auditors.

Three Golden Rules of Accounting: A Comprehensive Guide

October 25, 2023 2523 Views 0 comment Print

Learn the essential Golden Rules of Accounting for accurate financial records. Explore their significance, application, and examples in this detailed guide.

Ethical Challenges in Accounting & Finance for Accountants

October 14, 2023 2019 Views 0 comment Print

Explore ethical challenges accountants face in accounting and finance. Learn about confidentiality, independence, fraud, and more. Enhance professionalism.

Challenges Faced by Accountants: Solutions for Effective Management

October 4, 2023 1713 Views 0 comment Print

Discover difficulties faced by aspiring accountants and practical solutions to manage their responsibilities towards business entities. Learn why professional training is essential.

Free Webinar on Foreign Accounting & Bookkeeping

September 4, 2023 6207 Views 0 comment Print

Join our free webinar on foreign accounting and bookkeeping, led by expert CA Sachin Jain. Learn about opportunities, techniques, and tools for international practice.

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