CA, CS, CMA : The article gives insight about will document and execution of the same. The author believes that the chartered accountant in the ...
Company Law : The concept of Independent Directors is a welcome step for corporate governance in India. Independent directors are expected to us...
CA, CS, CMA : The co-operative movement that was started to help the rural indebtedness has now made noticeable progress. The sector has grown i...
CA, CS, CMA : Introduction: The word ‘AUDIT’ has Latin origins. It is derived from the Latin term ‘audire,’ which means to hear ...
CA, CS, CMA : The term 'money laundering' is generally attributed to the collective of procedures involved in legitimizing assets amassed by mea...
Finance : Sufficient evidence exists to conclude that art and practice of accounting existed even in Vedic times. There are references to kr...
Insurance probably made a beginning in the ancient land of Babylonia In the 18th century B.C., Babylonian king Hammurabi developed a code of law, known as the Code of Hammurabi, which codified many specific rules governing the practices of early risk-sharing activities. For instance, the code dictated that traders had to repay merchants who financed trading voyages unless thieves stole goods in transit, in which case debts would be cancelled.
The word “document” is used to refer to a written or printed paper that bears the original, official, or legal form of something and can be used to furnish decisive evidence or information. “Documentation” refers to the act or an instance of the supplying of documents or supporting references or records.
A treasury can be : the part of a government which manages all money and revenue.the funds of a government or institution or individual.the government department responsible for collecting and managing and spending public revenues . depository (a room or building) where wealth and precious objects can be kept.he center of financial operations within a company.
Investigation under Section 235:-Investigation is the act of determining whether criminal matters such as employee theft, securities fraud (including falsification of financial statements), identity theft, and insurance fraud have occurred.
Senator Paul Spyros Sarbanes in his capacity as Chairman of the Senate Banking, Housing, and Urban Affairs Committee, held a series of comprehensive hearings resulting in the passage of a bi-partisan bill designed to reform the accounting industry and restore the investor confidence. “The Public Company Accounting Reform and Investor Protection Act” was signed into law on July 30, 2002, and has been referred to as “the most far-reaching reforms of American business practices since the time of Franklin Delano Roosevelt.” Congressman Michael G Oxley is the co-author of the Act. The law is now known as the “Sarbanes-Oxley Act,” named for the principal sponsors of the legislation.
Internal Audit is a service to management. Its functions include examining and evaluating internal control and providing assurance to the management. It is a part of the organisation’s system of internal control and its scope includes ALL aspects of internal control, not just financial control.. The scope of internal audit is much wider than statutory/external audit. It should ideally cover all the organisation’s activities. They include:
References to budget can be found in Kautilya’s Arthashastra. It states that the Chancellor should first estimate revenue from each place and sphere of activity under different heads of accounts and then arrive at a grand total. The actual revenue is to be estimated by adding receipts into the treasury for current year and delayed payments received which were due in earlier year/s.
The etymology of business refers to the state of being busy, in the context of the individual as well as the community or society. In other words, to be busy is to be doing commercially viable and profitable work.In economics, business is the social science of managing people to organize and maintain collective productivity toward accomplishing particular creative and productive goals, usually to generate profit.
WorldCom was one of the big success stories of the 1990s. It was a symbol aggressive capitalism. Founded by Bernie Ebbers, one of the most aggressive acquirer during the US mergers and acquisitions boom of the 1990s. WorldCom’s asset value had soared to $180bn before the US capital market started witnessing a downtrend.
