Sunday, September 4, 2016

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 statements comparable at international level. Ind AS is adopted from IFRS though there are few carve outs.

Ind AS and IFRS speaks about fair value everywhere. The Ind AS balance sheet now has a little different presentation and line items. MCA has published a circular related thereto dated 7 April 2016. As you'll go through, you'll find assets are now shown at the top followed by liabilities. There is a concept of financial assets and liabilities. Some more disclosures in notes related to interest risk, commodity risk, liquidity risk, market risk, sensitivity analysis are required to be given.

What are financial liabilities and assets?

For a simple understanding, where there is an establishment of contractual obligations or rights against cash or equity are financial liabilities or assets.

Practical Issues

There are some more practical impacts by introducing Ind AS such as for Toll road companies, the contractual right to use or operate a toll to be shown as intangible assets or financial assets. Though MCA and ICAI have not issued guidance notes related to all the areas and industries, there are some available on which call can be taken on practical issues faced by the Companies while implementing Ind AS.

Exemptions

There are certain exemptions available in Ind AS 101 for first time adoption of Ind AS, the Companies may avail. In such case, the cost of the assets shall be considered as deemed cost. These exemptions mentioned in relevant paragraphs of Ind AS 101 exempts retrospective effect of the specified cases.

How many comparable figures we have to present in Ind AS financials?

The Companies alongwith presenting the Ind AS figures as at the balance sheet date in the year of adoption shall also present comparative figures (Ind AS) of previous year and opening figures (Ind AS) of preceding year. For example, for the Companies adopting Ind AS in the FY 2016-17 (31 March 2017) shall give comparative figures as at 31 March 2016 and opening figures as at 1 April 2015 (Closing as at 31 March 2015)

Fair value impact

The recognition and de-recognition of assets and liabilities resulting from the fair value done will have more impact on the statement of profit or loss, other comprehensive income and equity component of financial instruments. Though there can be a great fluctuation on the profit and loss figures.


Implementation of Ind AS is a great step for Indian economy to compare the Indian Companies financial statements at the international level. They will provide a more fair idea to the users of financial statements about the value of assets and liabilities of the Company.

For any questions or queries, e-mail me on urvashimaharshi@gmail.com 


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Tuesday, January 12, 2016

Adlabs Imagica and Aquamagica

Adlabs Imagica and Aquamagica, an amusement theme and water park spread over 300 acres located near the city of Khopoli on the Mumbai-Pune Expressway nearby to Mumbai.


This theme park is not as huge as Essel World but is way different from it. It is basically designed to not only give experience of fun rides, but also to entertain the visitors with the shows, ambiance, interactive and unique attractions. 

For online bookings and ticket offer prices: Click Here

Aquamagica is spacious, modern and enjoyable place to be to chill near and in the pool with friends and family. There are interesting slides and be sure you get quickly in the Que as that's something time consuming and annoying.


For more info visit: UM's Travel Stories and Corners of Mumbai
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Saturday, March 14, 2015

How to get Free Voice Call Feature on WhatsApp - Android and iOS


The voice calling feature on WhatsApp is here! After BBM, WhatsApp has come up with the free voice call feature in its new update on Google Play.

The new feature is yet not rolled out right away. To get enabled this feature, the WhatsApp user needs an invitation from the WhatsApp user who is already using this feature. The 'call' icon is on the left side of the chat.



1) Update/download the WhatsApp app available on Google Play.
2) If you know any user using such feature, you need to ask him/her to invite you inorder to use this new feature via call.
3) The users need to connect via call and can disconnect within few seconds.
4)The app needs to be restarted after call gets disconnected and the new feature is available!
5) You may see the screen (image on the right) that there are columns available in the new updated WhatsApp alongwith the details of calls made and received.

This feature is yet to be rolled out to get its reviews. As of now, as per sources, its fairly doing good.

Note: There are various APK files available assuring the new update available in the market. It is advisable to download the app from Google Play.

NOW IT IS ALSO AVAILABLE FOR IPHONE USERS!
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Friday, March 13, 2015

5 Awesome Wearable Devices


1) Vuzix M100 Smart Glasses (Grey)


The amazing device is here! The smart glasses! Vuzix M100 provides the features and capabilities of a modern smartphone, without a cellular radio, bluetooth connectivity, Wi-Fi, 5 MP camera, 1080p HD video, storage of 32 GB expandable memory or can be streamed live, pre-installed apps and more apps can be downloaded, link your phone and most importantly, its a hands-free device! For more details For more details Click here!

2) Myo Gesture Control Armband (Black) [Amazon Exclusive]




The incredible technology in the market with a good startup in its first round. The Myo armband is a gesture based device which reads the electrical activity of your muscles and the motion of your arm to let you wirelessly control technology with hand gestures. Out of the box, the Myo armband detects five distinct hand gestures to wirelessly control tech, like music, games, and presentation slides, all with the flick of a wrist. For more details Click here!

3) Meiego Multi-functional Waterproof Intelligent Magic Rings for Android Mobiles NFC Smart Ring- Blue



The smart magic ring operate the mobile function and share the data by NFC wireless frequency communication technology and perform functions like APP lock, Operate the mobile script, share business card, share internet link, share the text and share online file. For more details Click here!

4) Tile for iOS and Android - For Finding Anything and Everything - 4 Pack


It is one of the useful device. It functions like place or stick Tiles on up to 8 different items (like your keys) so you find them when they go missing. When you begin searching for a lost item, your iPhone tracks the Bluetooth signal strength of your Tile. As the signal draws you closer, Tile's distinctive melody can be heard until your lost item is back in your hands. For more details Click here!

5) Portable Eyewear 72-Inch 16:9 Widescreen Multimedia Player Portable Video Glasses Virtual Theatre 4gb


Amazing 72 inch virtual display with in-built 4 GM memory mega storage. It is user friendly and the users can enjoy movies, music, games, photos and favorite books. It supports expandable micro SD card of 32 GB and the display resolution: 432x240 310K pixels. For details Click here!
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Sunday, July 6, 2014

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 communication, this is due to 'vision tunnel'. It makes people get involved only in what one is saying and this makes one ignore whats happening around irrespective of crowd or loud noise.
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Saturday, November 30, 2013

How to download movies using uTorrent - Easy steps!

To download a movie using uTorrent, you need to download a uTorrent software which is free of cost.

Download utorrent software: http://www.utorrent.com/
'Install' and 'Run'






Now, go to the site: kat.ph





Search the movie you want to download in the 'Search query' box.

You'll find lots of movies with the same name in the list, choose the movie with high 'seed' and 'leech', you may find seed and leech on the right side of the page. Seed highlighted in green and leech highlighted in maroon

Click on the name of the movie.





Follow the photo, you can see which icon to click to download a movie. 

You may select the available version as per your choice or else leave it as it is.


After you click on the download option, a utorrent file will get downloaded, open it, you'll find the page as:


Click on the 'OK' button and let the download get complete. That's it!

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Thursday, August 8, 2013

Legit earning sites available for Indians!


If you are looking for some trust worthy and legit sites to earn, keep going.
In this article you will find the sites which pay its registered users by performing simple tasks.
Very rare sites are available for Indians to earn.
But now a days US webmakers are expanding their market to India.


The following are the legit sites which is strongly recommended!

Points2Shop

Here in this site you earn cash and points.
By points you can order free amazon products, gift cards, game cards and many offers available.
By cash, you may either withdraw or convert it into points.

This is the prefered site as earning points is quite easy and I am giving it the 1st priority amongst all.

You can earn points by completing simple task such as watching videos, signup on sites, complete surveys, refer friends and so on!



You get $5 to signup!
It is fun to use this site because of its exciting theme. You may earn by playing games, completing offers, watching videos, completing tasks and many other cash offers. The exciting part is it giveaway lot of stuffs in between as and when you access various areas of sites time to time. The minimum payout via paypal is $20. Also there are various gift cards such as Amazon, E-bay, Restaurants and many more.

Signup: Click here!

Swagbucks

Here in this site you receive points by doing simple task, they call it as bucks. By earning bucks, you can redeem giftcards, paypal cashout and many more.


Yovia

This is a good cause site which require hardly any efforts and pay for almost nothing.
Task you need to do such as follow the user on twitter, retweet tweet, subscribe on Google+, like facebook page and so on.

The best part is its not time consuming and you can simply register by using your facebook username.
There is no point system, you directly receive cash.
They pay you monthly.


Rewarding Ways

There are many offers on the site to earn such as watch videos, click on the banner, sign ups, quick offers and many more. You can earn points and cash. The best part is here - Minimum payout is $1


Opinion Bereau

This is one the good site for Indians. There are many surveys available on the site and it allows you to redeem Flipkart gift voucher of minimum Rs. 100 as and when you reach 105 points.


NOTE:

I am recommending the above sites only because I have received the prizes and cash.
I'll update more such sites as and when i come accross and receive rewards therefrom.
I would suggest to try all the above as all are legit sites and you can earn more.

Guidelines how to Signup and proceed:
                                       
                                                                POINTS2SHOP
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Tuesday, July 2, 2013

Fix Blackberry stuck trackball

If you have a problem with your Blackberry handset with which trackball is not working, here are few methods and their steps you should follow:


RUB IT ON THE SURFACE
METHOD - 1:

Step 1: Take a plain piece of paper, place it on the floor or writing pad.
Step 2: Place your Blackberry handset on the paper. Now turn it to the opposite side (i.e. the screen towards the paper)
Step 3: Lock the keypad and press the Blackberry's at the middle of back and rub it on the paper for few seconds
Step 4: Check whether the trackball is working by operating it.





CLEAN IT WITH THE EAR BUD

METHOD - 2:

Step 1: Take an ear bud
Step 2: Clean the areas around the trackball nicely and firmly for few seconds.
Step 3: If possible, dip the ear bud in cleansing alcohol for better cleaning.
Step 4: Check whether the trackball is working by operating it.








CLEAN IT WITH THE PIN

METHOD - 3:

Step 1: Take a paper pin or needle.
Step 2: Use it for cleaning the area around trackball
Step 3: Insert it in the space below near the trackball
Step 4: Try to pull above all the dust accumulated and remove them off
Step 5: Check whether the trackball is working by operating it









                                         
                             
                                          YOUTUBE VIDEO:

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Thursday, June 20, 2013

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 in future. But very few speaks about their interest as their career.

Food for thought:
In India, can a common man irrespective of his/her financial condition, family background and all other similar factors are into the field by their choice of interest and passion?
(Here I am not addressing few people, common man is a huge bunch and the views are on majority basis)

Again, the answer is NO.

People in India are taught to earn money to survive and not to live life lively.
I understand money is very much important and for that one should have a settle or fine job or work.

But does all these give a person a self satisfaction?
The answer is NO again.
Whole life, people chase money and do the same thing for years to earn but they never enjoy it! Later they regret for what they were doing and think to switch their career but it be too late to do so.

This is what you call a life? I call it a common Indian life! Where majority does so.

Education is important. Alongwith that one's interest and passion is the most important for one to live a life like one should.

Many will suggest to become a Doctor or Engineer or Chartered Accountant or Lawyer or so as such degrees bring money in future and they are trendy courses but hardly common man's parents will allow easily one to become a choreographer, actor, Disk Jockey, Artist or so!

There always be a family and close ones pressure of Do's and Don'ts.

Secret tip: Do what you like and Don't obey them ;)

Follow your passion! Do what you like! Live your life like you want! Enjoy! And think BIG!

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Friday, June 7, 2013

Monsoon In Mumbai

Rainy season is most awaited season in Mumbai. The wet climate, marine and the beaches give a very good combination to hangout with friends and family and even alone to the enjoy the nature's beauty. The fresh enviournment and the blossmy smell turns to a happy and joyful mood.

Alongwith with its pros, Mumbaikar face problems during monsoon. The roads of Mumbai have always been controversial. Many potholes, non-maintainence of roads distract the vehicles and leads to traffic. People walking roadside always face dingy splashes by the vehicles due to such roads in this season. Alongwith it Bandra's famous river named -'Meethi Nadi' (Sweet River) is also a controversial one. City's whole drainage waste get released in this river. During monsoon, the level of it rises and expel out of the limit and get spread in nearby areas. This invites various deseases to the local people.

Various other problems faced are delay schedule of local trains which are known as lifeline of Mumbai, many cancellation of trains too.
Many a times rescheduling of trains that from its time table. All these factors also increases the rush in such locals.

 People who get troubled by this season are the lower class who resides in slumps. They need to keep on repairing their so called home repeatedly by themselves. This is the view of the big known slump nearby Bandra station in Mumbai.

Low lying areas such as Khar, Matunga and nearby places in Mumbai also face problems of water floods into their house. Such house owners have no option apart from repairing their house either by raising the base up or face such consequence.

Government has no development offers for such owners. This is also faced by people who are from lower level class and below poverty line.


Marine Drive, Chowpatties (beaches) and Bandra sea link are the most liked view points in Mumbai during monsoon.

Mumbai shows its credible and ultimate beauty at this season. Enjoying rain by playing football, visiting marine side alongwith chats, cutting chai (tea) and bhajiyas (fritter) are the charms!

Hope you enjoy Monsoon in Mumbai in the way it should be with almost nominal cost and take away a lot of memories and pleasant in return!

Happy Monsoon!



                            YOUTUBE VIDEO:



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Sunday, June 2, 2013

Galaxy Note with GO Launcher Theme!

Samsung Galaxy Note with GO Launcher Theme.
Check it out how does it look.
Galaxy Note (Ceramic White) N7000
GO Launcher (Popular Theme)

Watch out how the GO launcher theme looks with Samaung Galaxy Note.


YOUTUBE VIDEO:

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Thursday, May 16, 2013

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 objective is to secure rest of the life of senior citizen by providing fixed income monthly where the financial support is weak and health issue expenses are more. You may find many banks providing this scheme.

The following links are few bank schedules providing Reverse Mortgage Scheme:

Union Bank of India: http://www.unionbankofindia.co.in/personal_retail_reverse_mortage.aspx
Bank of Baroda: http://www.bankofbaroda.co.in/pfs/bobashray.asp
Punjab National Bank: https://www.pnbindia.in/en/ui/ReverseMortgageScheme.aspx
State Bank of Mysore: http://www.statebankofmysore.co.in/advances/personal-banking-/reverse-mortgage-scheme-.html


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Sunday, April 14, 2013

How To Create A Website with LOW PRICE Plans

If you are seeking to have a website and pay a minimum amount, below are steps to be followed:
To own a website, at the very first you need to apply for a domain.
Many website and domain sellers demand more amount from the webmasters to be paid annually to use such facilities, around Rs. 5k to Rs. 15k
You can choose any desired website address you require (you cannot choose exact same address incase it already exist).
You can choose domain amongst various extentions such as .in, .com, .org, .edu, .co.in and so.
How to save money in choosing a domain? Which is the cheapest domain available for the webmasters?
You can search and opt various domains as per your preference as various extentions have different prices.
The following are few sites where you can find low price domains registration:
●Crazydomains.in - Here you can get .in domain at just Rs. 99/- p.a. and .com domain at just Rs. 150/- p.a.
●BigRock.in - .in domain at just Rs. 229/- p.a.
●GoDaddy.com - Here you can get a .com domain at Rs. 500/- p.a.
There are many more sites where you can check more offers and plans.
Only owning a domain is no process. You need to have a Web Hosting/DNS Server to attach your website with your domain inorder to make your website view to the users.
Web Hosting and DNS servers play a role to attach your web page to your domain and this turns your website visible to all the users.
The following are few resonable plans for it:
●Crazydomains.in - Basic Host at just Rs. 40/- p.m.
●GoDaddy.com - at just Rs. 162/- p.m.
●BigRock.in - at just Rs. 219/- p.m.
Now after all these, you need a Web Builder.
Building a web page or creating a website page for you is done by web builder.
The following are few plans offered by the sites:
●Crazydomains.in - at just Rs. 100/- p.m.
●GoDaddy.com - at just Rs. 55/- p.m.
●Bigrock.in - at just Rs. 79/- p.m.
Along with all the above, the sites also provide threat protection, email hosting and email IDs, web space, speed, 24x7 service, templates, shopping carts, social network integration
There are many more attachments apart from the above. But the above are the necessary steps required for creating a whole website at the lowest price.
You can also register by paying in addition:
●Email Hosting
●Shopping carts with PayPal
●More goodies
●Marketing manager for your website
●Promoting manager
●Web Adviser
★★★★★TIP★★★★
Choose a blogger or wordpress in case you want to save Web Building cost.
Sync your blogger or wordpress account with your domain by changing the setting of blogger.
For further assistance, you can drop a comment here.
I hope this article is useful to you!
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Friday, April 5, 2013

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 there, there are chances they aren't saying the truth. Continuous blinking of eyes is also an example.
Observe their body movements, gestures, expression and the level of confidence when they are talking.
Ask them some question indirectly so that you might come to know whats revolving in their mind.
Ask them questions politely by straight looking into their eyes and dont give them time to frame a safe answer.
Observe their speaking pace whether it is fast or slow. Many times we dont realise what we are speaking when we speak fast in terms of speed.
This is because we dont get time to think before we speak.
Thats a human tendency.
If person talking to you, fumble or stammer, here's the hint he is not speaking the truth.
If you know that person since, its more easy to read mind of such people as we are much familiar with their behaviour.
To read minds of new people is a task but its quite simple too as you just need to do is observe them and follow these basic techniques.
In our routine life we hardly observe to people who are talking to us.
Observation not in terms of what they are wearing or how do they look today, but observation in the meaning of knowing their mentality approach by simply observing their basic behaviour and view points.
The aforesaid basic techniques are very useful and should be adopted to know people and their minds.
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Monday, April 1, 2013

"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, their pay in and pay out takes place on wednesday.
But such transaction should be reflected in the DP within 24 hours/at the end of the transaction day
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Friday, March 29, 2013

The Moving Cart In Mumbai

Like any other popular city, Mumbai got a new concept of starting with a restaurant in the moving bus known as "The Moving Cart"
This is a very attractive concept for the foodies, people who love to hangout or try new things, like to eat on a sea view road. The idea was orginited in Chennai
This moving bus with restaurant starts from Grant Road to Hotel Marine Plaza at Marine Drive and again take a same route back. This moving restaurant is only in south Mumbai.
The main attraction is the sea view road
The Moving Cart was inaugurated on 28th March, 2013 by Shri Jagdish Patil - IAS MD Maharashtra Tourism Development Corporation and the bookings for it is going to start from 30th March, 2013
This cart is a double decker bus where the bottom is aircontioned and the upper deck is roofless.
The timings of the meal are:
1pm - Lunch (only vegeterian)
8pm - Dinner (veg and non - veg)
10pm - Dinner (veg and non - veg)
You can also book online:
themovingcart.com
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Thursday, March 28, 2013

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 Rs. 90 lakhs, intimation has to given to the officer in the Next Year.

Note:
This is required to be done every next year of the current year in which such turnover is exceeded.

●If the turnover exceeds Rs. 140 lakhs, the unit need to register itself in such scheme.

●If the turnover exceeds Rs. 400 lakhs, the unit cannot avail exemption of Rs. 150 lakhs in the next year.

OTHER CONCESSIONS:

●Return filing - Quaterly
●Payment of duty - Monthly instead of Quaterly (except for March)
●100% Cenvat Credit availability on capital goods in the first year
●Audit once in 2 to 5 years
●Exemption of duty if goods manufactured under brand name of others in rural area

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Friday, March 15, 2013

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, commonly accepted customs and standards of conduct and particularly as applied to professional performance, requirement of law, government regulations and professional codes"
PERFORMANCE AUDIT:
It is an adjective and systematic examination for independent assessment of the performance of a government organization program or activity so as to improve public accountability.
SUPLLEMENTARY AUDIT:
CAG may supplement the report submitted by the professional auditor. CAG may issue directives to the auditors in regard to the performance of their function. The person so authorized is having same powers as auditors. Supplementary Auditor may concentrate more on efficiency aspects.
COMPREHENSIVE AUDIT:
Comprehensive audit is examination in detail of various aspects of PSU to ascertain its efficiency and effectiveness. It is conducted in addition to the professional audit which is done on an annual basis. A detailed audit program is prepared by the auditor to cover material aspects.
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Sunday, March 10, 2013

Beautiful City - Mumbai

Does Mumbai look less than any beautiful abroad city?
The pictures says all.

Financial capital of India not only leads in finance but also in its look.

The oldage built by britishers in the South Mumbai and new mordern structures by we Indians gave Mumbai a classic look.
And how can I forget to add Mumbai's beaches, thats a contribution by the nature.

Mumbai formerly known as Bombay is also an entertainment capital.

Its one of the most Populous city in the world.
Mumbai is constituted by seven islands.

Mumbai is a metropolitian city and is the wealthiest city of India with a huge population.

Its honour to receive a title as Mumbaikar as it makes us a part of Mumbai.

People wants to migrate from various cities and live here and those who stays here never want to leave this beautiful city.

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