Attention : CAs must follow ICAI Guidance Note on FS of Non-Corporate Entities from Starting 1.04.2025 This is a crucial update for non-corporate entities following ICAI’s Guidance Note on Financial Statements. The emphasis on proper classification, disclosure, and compliance with the prescribed format ensures better transparency and comparability. Starting April 1, 2025, the ICAI Guidance …
How to do a company analysis in less five minutes: Examine the following ratios: 💡Efficiency Ratios • Inventory Turnover: Cost of Goods Sold ÷ Inventory Measures how many times a company’s inventory is sold and replaced over a period. • Asset Turnover: Sales ÷ Total Assets Measures a firm’s efficiency at using its assets in …
Compliance Checklist to be done at year-end closing on 31st March The company must ensure that the appropriate TDS, GST, ESI and PF has been taken and paid. Checking Closing Stocks as of March 31, 2025: The amount and item-by-item value of closing stocks as of March 31, are required in tax audit instances as …
Books of Accounts & Financial Statements Every company should prepare and keep its books of accounts and financial statement at the end of every financial year which give a true and fair view of the state of the affairs of the corporation and explains each transaction. The accounts should be maintained on accrual basis and …
Elements & sign of Financial Statements of company What is Financial Statement? Financial elements of a financial statement are broadly classified into five categories. These are grouped according to the monetary characteristics they possess. As per Section 2 (40) of the companies Act 2013 states that the financial statement includes the below: Profit and loss …
HIGHLIGHT ON USE OF DIGITAL SIGNATURE The government of India has in the recent past launched its dream initiative of ‘Digital India’ which promises to integrate the government departments and the people of India ensuring that the government services are made available to citizens electronically and thereby increasing the work efficiency and reducing the paperwork. Use …
I Approval to introduce the Negotiable Instruments (Amendment) Bill, 2015 in Parliament The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the proposal to introduce the Negotiable Instruments (Amendment) Bill, 2015 in Parliament. The amendments are focused on clarifying jurisdiction related issues for filing cases of the offence committed under Section …