Discontinuing Operations Objective The objective of this Standard is to establish principles for reporting information about discontinuing operations, thereby enhancing the ability of users of financial statements to make projections of an enterprise’s cash flows, earnings-generating capacity, and financial position by segregating information about discontinuing operations from information about continuing operations. Scope 1 This Standard applies […]
Accounting for Investments in Associates in Consolidated Financial Statements Objective The objective of this Standard is to set out principles and procedures for recognising, in the consolidated financial statements, the effects of the investments in associates on the financial position and operating results of a group. Scope 1 This Standard should be applied in accounting for investments in
Accounting for Taxes on Income Objective The objective of this Standard is to prescribe accounting treatment for taxes on income. Taxes on income is one of the significant items in the statement of profit and loss of an enterprise. In accordance with the matching concept, taxes on income are accrued in the same period as
Consolidated Financial Statements Objective The objective of this Standard is to lay down principles and procedures for preparation and presentation of consolidated financial statements. Consolidated financial statements are presented by a parent (also known as holding enterprise) to provide financial information about the economic activities of its group. These statements are intended to present financial information about a parent and
Earnings Per Share Objective The objective of this Standard is to prescribe principles for the determination and presentation of earnings per share which will improve comparison of performance among different enterprises for the same period and among different accounting periods for the same enterprise. The focus of this Standard is on the denominator of the
Leases Objective The objective of this Standard is to prescribe, for lessees and lessors, the appropriate accounting policies and disclosures in relation to finance leases and operating leases. Scope 1 This Standard should be applied in accounting for all leases other than: (a) lease agreements to explore for or use natural resources, such as oil,
Related Party Disclosures Objective The objective of this Standard is to establish requirements for disclosure of: (a) related party relationships; and (b) transactions between a reporting enterprise and its related parties. Scope 1 This Standard should be applied in reporting related party relationships and transactions between a reporting enterprise and its related parties. The requirements
Net Profit Margin (also known as “Profit Margin” or “Net Profit Margin Ratio”) is a financial ratio used to calculate the percentage of profit a company produces from its total revenue. It measures the amount of net profit a company obtains per dollar of revenue gained. The net profit margin is equal to net profit (also known as
The Pradhan Mantri Gramin Digital Saksharta Abhiyan (PMGDISHA) benefits about six crore households, making them digitally literate. With PMGDISHA, most rural households would benefit and enhance their livelihood. This scheme helps the Digitally illiterate people to actively learn IT skills, which will help them participate in the democratic and developmental process. This initiative is part of the Digital
Section 50C is applicable only to land or building or both. Section 50C uses value adopted by the Stamp Valuation Authority (SVA) for the purpose of levying stamp duty on registration of properties, as guidance value to determine undervaluation of land or building if any in the sale agreement. As per section 50C, the calculation
CA Bhuvnesh Kumar Goyal
Chartered Accountants
cabkgoyal@gmail.com
9971782649
Ph: 9971782649
E: cabkgoyal@gmail.com
