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Nov15
2017
GST (Goods and Services Tax) has spread both confusion and chaos across the corporate sector in India. Apart from finance and account-related problems, many business persons are still in the state of confusion because of the lack of clarity in India’s biggest tax reform. The GST regime is here to stay and the government has started to consider the requests from various industry sectors.
Nov13
2017
Securities Market and Need for a Regulator:
Amid many debates and differences, all economists agree that Securities market plays a vital role in the development of any economy. The Securities market is the backbone of an economy. Without a sustainable securities market, an economy cannot get the required finance to fund the development projects. Hence, for any economy to survive and grow in long run the presence of a well regulated and transparent securities market is a must. India is no exception to this fact. It is only through securities market that even a common man in India can become an investor in a multi-national company. The securities market ensures that savings are properly channelized so that sufficient finance is available where it is needed the most.
Nov10
2017
GST has brought a radical change in the way Corporate India pays taxes during the financial year. While implementing ‘One Nation, One Tax’ approach on July 1, 2017, the government has sent a clear message to the businesses that more transparency and openness in the business model must come with this biggest tax reform.
On one hand, GST has posed many challenges in front of Indian enterprises and on the other hand, it has opened the doors of opportunities for skilled business accountants. Yes, it’s true! An updated, tech-savvy, and experienced accountant can grab the opportunities offered by the GST regime.
Nov08
2017
July 1, 2017 is a phenomenal date when India has made a history by implementing ‘One Nation, One Tax’ approach. Yes, GST (Goods and Services Tax) is indeed the biggest reform of our country that brings a few challenges and a lot of opportunities for our accountants. It is considered as a ‘Game Changer’ for Indian business as it will cause a long-lasting impact.
As we are passing through the transition phase from the traditional approach of many destination-based taxes to the one origin-based tax- GST regime, it is obvious that the accountants have to put extra efforts to grab the opportunities.
Nov06
2017
The modern accounting system of double entry book keeping is based on certain principles and standards. One of them is the concept of matching costs with the revenue or benefits derived from such costs. However, in real life business scenario, not all income and costs directly match up with the goods and services sold or the assets purchased. In many cases, the cost is incurred at present but value received from such expenditure is actually delayed over time. According to generally accepted accounting principles, money and value should be matched whenever possible. This means that a business must account for expenditures that may not immediately generate profit in the current accounting period.
While revenue expenditure is a simple concept, deferred revenue expenditure is slightly more complicated. In this case, the value received from the expenditure is not immediate.
Oct30
2017
