The concept of secondment arises when an employee of one organization is temporarily assigned to work for another organization, often within the same corporate group, […]
Understanding the Asset Ceiling under Ind AS 19: An Analytical Perspective
Ind AS 19 addresses the accounting and disclosure requirements for employee benefits. These benefits include both short-term and long-term obligations, with a specific emphasis on […]
A Simple Guide to GST Composition Scheme for Small Enterprises
The Goods and Services Tax (GST) in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. While GST brought uniformity […]
Dissecting Section 14A: An Opinion-Based Analysis of Disallowance of Expenditure
Section 14A was introduced by the Finance Act, 2001, with retrospective effect from April 1, 1962. This provision marked a significant shift in the treatment […]
Understanding Immovable Property under GST: Definition, Case Laws, and Exceptions
Immovable property plays a significant role in determining the classification of a contract as a works contract under GST. A works contract under GST must […]
Understanding the Business Cycle: Phases, Causes, and Key Features
The business cycle refers to the recurring pattern of expansion and contraction in economic activity observed over time. These fluctuations reflect the overall health of […]
Secretarial Audit: Scope, Process, and Compliance Essentials
Secretarial Audit is a process to verify the compliance of various legislations, including the Companies Act and other corporate laws applicable to the company. It […]
Strategic Planning vs. Strategy: Definitions, Differences, and Processes
A plan is typically a sequence of steps designed to accomplish a specific goal. It addresses questions such as how, when, where, who, and what. […]
Understanding the Annual Information Statement (AIS): A Complete Guide
The Annual Information Statement was introduced by the Government of India through the Finance Act of 2021 and was implemented from November 2021 on the […]
Section 56(2)(viib) Explained: Key Valuation Rules and Tax Implications
Section 56(2)(viib) was introduced through the Finance Act, 201,,2 with the primary intention of curbing tax avoidance and the circulation of unaccounted money. The provision […]
Capital Budgeting Techniques and Decision-Making Explained
Capital budgeting decisions refer to decisions regarding the acquisition or disposal of fixed assets or long-term investments. These are among the most critical financial decisions […]
Understanding the Digital Personal Data Protection Act, 2023
India’s Digital Personal Data Protection Act 2023 is the country’s first comprehensive law focused solely on personal data privacy. It was enacted on 11 August […]
Understanding Internal Audit: A Concise Guide
In today’s rapidly evolving corporate environment, businesses have expanded in size and complexity, making it increasingly difficult for top management to monitor and control all […]
Comprehensive Guide to Preparing Adjusted Financial Statements
At the end of an accounting period, firms face a central task: preparing financial statements that truthfully represent the state of the firm’s finances. Many […]
Financial Statement Formats for Non-Corporate Entities
The financial statements of an entity serve as a reflection of its financial health and operational performance over a specified period. While corporate entities such […]