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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 903 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 903 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 2901 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 849 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 3096 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 6234 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 121908 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 795 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 1389 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 1485 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 13436 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 1216 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 1460 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 429 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 3160 Views 0 comment Print


Ethics in Accounting: A Guide for Future Accountants

February 6, 2023 3453 Views 0 comment Print

Accounting ethics are vital for decision makers, stakeholders, and the public; learn why in this guide for future accountants. Discover the importance of ethics in accounting and how to cultivate ethical practices.

Sample illustrative SOP for Major Accounting Areas

January 23, 2023 9639 Views 0 comment Print

Explore a comprehensive Sample SOP for Major Accounting Areas covering finance and accounting activities at . Learn about the organization’s background, scope, purpose, and detailed procedures for areas like General Ledger accounting, Accounts Payable, Accounts Receivable, Cash and Bank Balances, and more. Understand the roles and responsibilities of key positions, IT systems used, and the structure of the Finance & Accounts Department.

Importance of Accounting and Income Tax Provisions

January 20, 2023 2058 Views 0 comment Print

Real and Personal Generally deals with Capital Nature of Incomes and Expenses and Nominal deals with Revenue Expenses. It is the act of Recording, Classifying and Summarising of Financial Transactions and Events and interpreting the results thereof.

Web Based Accounting Vs Desktop Accounting

December 19, 2022 2034 Views 0 comment Print

Discover the differences between web-based accounting and desktop accounting. Explore benefits like accessibility, cost-effectiveness, automatic updates, collaboration, and enhanced security for small and medium-sized businesses in India.

How to manage accounting for a real estate agency

November 24, 2022 3822 Views 0 comment Print

Real estate agencies have a lot of financial information to track, from rental income to property sales to commission payments. It can be easy for things to slip through the cracks without proper accounting management.

Basics of Accounting: General Purpose Financial Statements & their Qualitative Characteristics

July 31, 2022 3924 Views 0 comment Print

Explore the basics of accounting with a focus on General Purpose Financial Statements and their Qualitative Characteristics. Learn how financial information caters to informed decision-making for investors, lenders, and creditors. Dive into the four essential qualitative characteristics: Understandability, Relevance, Reliability, and Comparability, ensuring financial statements provide meaningful and reliable insights for effective analysis and decision-making.

Top Differences Between Management & Financial Accounting

June 1, 2022 1422 Views 0 comment Print

Explore the top differences between management and financial accounting. Understand how these distinct accounting practices provide valuable information for decision-making.

Basics of Banking: Reconciliations in bank branches & Inter Office Transactions

May 22, 2022 15510 Views 0 comment Print

Learn the basics of banking: reconciliations in bank branches and inter-office transactions. Understand how to resolve suspense and sundry deposit accounts.

Basics of Banking: Disclosure requirements in Financial Statements

May 18, 2022 4503 Views 0 comment Print

Uncover the basics of banking and the disclosure requirements in financial statements. Learn about accounting policies and practices for a true and fair representation.

Basics of Banking: Items of Profit and Loss Account

May 14, 2022 33144 Views 0 comment Print

Dive into the Basics of Banking: Explore the structure of Profit and Loss Account for banking companies. Understand sections, including Income, Expenditure, Profit/Loss, and Appropriations. Learn about key schedules, eligibility criteria for dormant status, and filing requirements. Stay informed with the latest insights on banking financials.

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