Ind AS 37: The objective of Ind AS 37 is to ensure that appropriate recognition criteria and measurement bases are applied to provisions, contingent liabilities, and

Accounting Estimates: Earlier, we have learned how to measure a transaction which had already taken place and for which either some value/money has been paid or

Limitations of Accounting, What are the Limitations of Accounting: Accounting is not fully exact: Accounting is influenced by personal judgment in respect of various terms.

An accrued liability is a current liability and it arises as a result of work performed and acknowledged by CSC but for which invoices are

Ind AS 16 – Property, Plant, and Equipment: The objective of IndAS 16 is to prescribe the accounting treatment for property, plant, and equipment so

IndAS 7, Statement of Cash Flows: Ind AS 7 prescribes principles and guidance on the preparation and presentation of cash flows of an entity from

Difference between Capital Receipts and Revenue Receipts: Receipts that are not of a revenue nature are capital receipts.The Receipts which are not received now and

Balancing Ledger Accounts: Balancing an account means the process of equalizing the two sides of an account by putting the difference on the side where

Accounting Standard 10 (AS 10) – Accounting for Fixed Assets. The objective of this Standard is to prescribe the accounting treatment for property, plant, and

IndAS 2: The objective of this Standard is to prescribe the accounting treatment for inventories. This Standard provides guidance for determining the cost of inventories

Backorder: Placing an order for an item that is temporarily out of stock is called back-ordering. When you place an item on backorder we will

Marginal costing, also known as variable costing, is a cost accounting technique that focuses only on the variable costs associated with producing an additional unit

Meaning of Accounting: According to AICPA Accounting is the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions,

Ind AS 114, Regulatory Deferral Accounts: The objective of Ind AS 114 is to specify the financial reporting requirements for regulatory deferral account balances that

Beta Definition: Beta is a relative measure of volatility determined by comparing the return on a share to the return on the stock market. In