Blog

2018

ACCOUNTING CONVENTIONS

The term 'accounting conventions' includes those customs or traditions which guide the accountant while preparing books of accounts. Conventions provide a standardized methodology that acts as a reliable means to compare financial results of different years. Accordingly, accounting conventions govern how companies and people prepare financial reports.

Archive


2018

Capital Receipts V2Fs Revenue Receipts

In one of our previous blogs we have discussed about Capital Expenditure and Revenue expenditure. Let us now understand Capital Receipts and Revenue Receipts.

Capital Receipts:

Capital receipts are the income received by the company which is non-recurring in nature. They are part of the financing and investing activities rather than operating activities. The capital receipts either reduces an asset or increases a liability. The receipts can be generated from the following sources:

2018

FINANCIAL ACCOUNTING

Accounting by nature is a task beyond menial recording of numbers and figures. Our previous articles have explained in depth, the relevance of accounting for businesses and individuals in the day-to-day management of financial resources. In this blog, our goal is to dive deeper into the branches of accounting —financial and management accounting, their definition and fundamental differences to broaden our readers’ understanding and career options.

Both financial and management accounting offer businesses the insights needed for decision-making and maximizing profitability. However, they have vast differences in the way the activities are carried and the parties that are involved in those operations.

2018

An Accountants JobDescription Roles and Scope

DO ACCOUNTANTS JUST COMPUTE NUMBERS ? NO.

READ BELOW TO FIND OUT MORE

For most people, the tax season and year-end is most dreaded period that can only be dealt with the help of an auditor or an accountant to unravel puzzles related to one’s financial health and overall tax liability. In layman terms, it is the only time period when accounting and auditing team becomes extremely important and is sought to do their magic with numbers in receipts and bills!

2018

Accounting Jobs for Women in India Have A Long Way To Go

WOMEN IN ACCOUNTING ROLES MAKE UP LESS THAN 20 PERCENT OF WORKFORCE IN LEADING ACCOUNTING FIRMS, FINDS A STUDY.

The financial year end is just around the corner and with many companies and tax payers set to close of the books of accounts, it is rather staggering to find out that women who make up at least 50 percent of the accountants, internationally, are still competing to receive fair benefits from employment.
On the international women’s day, this finding warrants a deeper view to determine the issues faced by women in the booming accounting community in India and reasons for the pay gap.

2018

The Financial Resolution and Deposit Insurance FRDI Bill

Introduction:
Since Independence, Bank Fixed Deposits is one of the most popular investment options for common men in India. However, recent changes in the economic trends & Government policy has compelled common men to rethink about the their most favourite investment avenue. Moreover, the recent bill tabled in the parliament called the Financial Resolution and Deposit Insurance (FRDI) has caused lot of rumours and concerns among common men. If this bill is passed, Bank FD may become one of the least preferable investment option among small house hold investors in India.

Financial Management