Are we ready for Ind AS implementation?

IND AS!! The hot topic everywhere specially for the listed companies! and for all the companies whose net worth exceeds Rs. 500 cr for FY 2016-17 and Rs. 250 cr for FY 2017-18. Why Ind AS is so hot topic and Companies are ready to pay good to professionals to carry out Ind AS transition project? The reason is, it is not a so quick exercise for anyone. The basic idea of introducing Ind AS in India is to make enable Indian Companies financial...

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How To Get Ones Attention While Talking

When you speak to someone, always look into the person's eyes to whom you are communicating. And if you want him/her to just get focused into your talks, here's the way. Just look between the eyes at a point and talk constantly with enthusiasm and interest. The person would be so busy and would get involved in your talks that he/she even wouldn't realise whats happening around. When you look into someones eyes and pass messages i.e. verbal...

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Choose Career for - Interest or Money?

Our nation trying to increase the education ratio for the citizens to have a good career but are the citizens truly serving their nation in the way they should? The answer is NO. I'll tell you how! Good brains do not want to earn in India and they settle in abroad whereas others only think and earn for themselves. Forget that, majority of the Indians are into a field either they are forced to do it or that course is popular or there is a good return...

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Reverse Mortgage Scheme

Reverse Mortgage is a financial scheme for senior citizens above 60 years who own a house can mortgage it for a source of regular income. The purpose of Reverse Mortgage is to provide regular periodical based income without selling the house. It is a loan against your house and do not have to payback as long as you live. Such income is TAX FREE. Individual opting for such must own self-acquired or self-occupied residential property in India. The...

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How To Read Minds

People with the interest to read other's mind or want to know whether people talking to them are speaking truth or not, go on! Whenever you meet people, you always try to find out what that person is thinking currently but many times we ignore to find what they think. ★Below are the few techniques by which you can read minds and find out what are they thinking: Look into the eyes of the person to whom you are interracting, if they look here and...

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"T+2" Rolling Settlement (Indian Share Market)

Many people are still confused about the T+2 concept adopted in Indian Share Market for trade settlements. Here is the precised explanation with example. In rolling settlement, the trades of each day are settled after 2-3 days. This is also known as T+2 rolling settlement system where trades outstanding at the end of the day are to be settled within 2 business/working days from transaction. For example: If transactions are entered into on Monday,...

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Small Scale Industry (SSI)

★Meaning of SSI is not defined in the Central Excise Act. The meaning can be understood as per Notification No. 8/2003 Where the Turnover in the previous year of a unit is not more then Rs. 4 crore (Rs. 400 lakhs) that unit is known as Small Scale Industry (SSI) ★EXEMPTION/CONCESSION: Duty applicable on amount exceeding Rs.150 lakhs turnover. Also no Cenvat Credit can be availed. ★OTHER APPLICABILITIES: ●If the turnover in the Current Year exceeds...

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Audit of Public Sector Undertaking (PSU)

OBJECTIVE: ●There is an involvement of public fund ●These funds should be utilized considering public interest ●Normally, these funds are lavishly used by management ●Auditor has to check whether these funds have been used in a manner so as objectives behind creation of PSU ●Auditor has to check whether transactions mainly expenses confirmed to propriety norms PROPRIETY AUDIT: E.L. Kohler - "Propriety is that which meets the tests of public interest,...

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Highlights of 82nd Budget 2013-14:

The following are the Highlights of 82nd Budget 2013-14  presented by Indian Finance Minister - P. Chidambaram: *Though slab rates are same, there is benefit of Tax credit - Rs. 2,000 for income upto Rs. 500,000/- *10% Surcharge on income exceeding 1 crore (Individuals/HUF) *Defence sector allocated Rs. 2.03 trillion which is an increase of 5% *5 to 10 % increase in surcharge on domestic companies whose income exceeds Rs. 10 crore and...

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Important Notes for CA students

Marginal Costing (By Urvashi Maharshi) - PDF File Standard Costing (By Urvashi D. Maharshi) - PDF File Internal Audit Report (Sample by Urvashi D. Maharshi) Audit tips (By Urvashi D. Maharshi) - PDF File Internal Control Questionaire (By Urvashi D. Maharshi) - PDF File MVAT and GV...

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Leases and its Types

What is lease? Lease can be defined as a right to use an asset or capital goods on payment of periodical amount in which lessor is the actual owner and lessee is the one who acquires the right to use such leased asset. Types of Leasing: (a) Operating lease - In such lease, the primary lease period is short and the lessor would not be able to realize the full cost of the asset and other incidental charges thereon during the initial...

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Zero Coupon Bond

●In Zero Coupon Bond, there will be no interest payment during the tenure of the bond ●It will be offered at a huge discount to its Face Value ●It also known as 'Deep Discount Bond' ●The benefit of such bond is instead of interest receipt, it will be offered at discount and redeemed at PAR. i.e. Redeem Value = Face Val...

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Planning to start a business?

★If you want to expand your wealth and income in life and eager to start a business but wondering what and how to start it? GO ON.. ○More than a capital, a business requires a good IDEA inorder to operate for long run. ○Choose the background and nature of business according to your idea and the business you want to do. ○Think  different and creative from other entities in that line of business to attract the market and plan accordingly. For...

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