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Feb27
2018
Gross Domestic Product:
Gross Domestic Product or GDP is one of the measurement which economists, governments and investors use to measure productivity and growth of an economy. GDP represents the total monetary value of all the final products / services produced by all people and organisations over a given period of time. The Organisation for Economic Co-operation and Development (OECD) defines GDP as "an aggregate measure of production equal to the sum of the gross values added of all resident and institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs).” As per International Monetary Fund (IMF) "GDP measures the monetary value of final goods and services - that are bought by the final user - produced in a country in a given period of time (say a quarter or a year).". By far, GDS is one of the most powerful measure to indicate productiveness of a country in the world.
Feb23
2018
Microsoft Excel is one the quintessential software programs used in the business community across the world for recording financial data to aid their planning, budgeting, forecasting and decision making processes. With the Google Drive, accounting enterprises are able to take the advantage of cloud to facilitate anytime, anywhere access to financial data.
Even after decades since its launch, MS Excel continues to remain the industry’s favourite for a host of reasons but, mainly due to its intrinsic nature of simplifying complex calculation using advanced formulae and IF functions. In the U.S. alone, about 69 percent of the companies reportedly use Excel, as per the 2016 Accounting and Finance Function reports by Robert Half.
Feb21
2018
Just about two years ago, banks, fintech companies, software biggies and governments across the world tried and tested cryptocurrency projects, giving a jumpstart to crypto revolution that involved trading and investments on Bitcoins. In India, trading on multiple cryptocurrencies has become as popular as investing in other capital assets to create a cashless economy.
Conversely, this has driven the tax authorities in India to roll out a strict, new tax law to regulate the earnings from the sale of crypto-assets that are classified as digital currencies, alternative currencies and virtual currencies.
Bitcoins and other cryptocurrencies are no-doubt viewed as hot, virtual assets. Though it is still unclear whether the RBI would treat it as ‘currency’, the crypto-assets will be subject to the regulations as per the Foreign Exchange Management (FEMA) Act, 1999. However, the catch is cryptocurrencies do not qualify as physical instruments such as currency notes, cheques, drafts, letters of credits, bills of exchange and promissory notes.
So what exactly is a Bitcoin? To understand thoroughly, below are some trivia and basics about cryptocurrencies.
Feb19
2018
What is Demand?
In layman's terminology, to demand something means to ask for something. However, in economics, the term "demand" has a special meaning. In economics, "Demand" of a commodity or service is the quantity that people are willing and able to buy at a certain price, per unit of time. Hence, the demand of any goods or service depends on two factors namely the ability of a person to buy such goods or services at a given price and willingness of that person to pay the given price for the commodity or service. Demand is a very complex phenomena in an economy. Many factors like price of the commodity/service, total supply, price of related goods / services, demographics etc. affect the determination of demand in the economy.
Feb16
2018
The amount of long term capital gain arising from sell of long term capital assets like house property is very large. Such gains are taxed at 20% as long term capital gain tax. The tax amount payable in such cases comes up to be very high. In order to provide relief to the tax payers, the Government of India has come up with certain exemptions from Long Term Capital Gain under section 54, 54EC and 54F. Let us understand these sections into detail:
Feb15
2018
Continuing our series on the relevance of accounting professionals for small and emerging businesses, we wish to shed more light at the trends impacting the overall community of ‘financial pillars’ of the Indian economy.
Not so long ago, very few, on-premise, legacy software were available for companies to facilitate complex accounting practices. Today, there is an endless list of accounting software for companies of all sizes and even individuals to use as per their convenience. A short after the demonetization our country, the government was alerted by the severe shortage of accountants and accounting jobs. With the onslaught of accounting software, it did seem that, very soon autobots or even Siri or Alexa may be readily dispensing investment suggestions over digital devices.
