Derivative Contracts

Derivative Contracts – New Reporting Values Derived

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The given Guidance Note “GN” highlights on recognition, measurement, presentation and disclosure for derivative contracts so as to bring uniformity in their accounting and presentation in the financial statements. This GN covers all derivative contracts that are not covered by an existing notified Accounting Standard; hence, it does not apply to the following: Foreign exchange […]

Provisions of Companies Act 2013 on Dividend

Provisions of Companies Act 2013 on Dividend

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Section 2(35) of the Companies Act, 2013 says: “dividend” includes any interim dividend. Section 123 of the Act: Declaration of Dividend: No Company to declare and pay except: Out of the profits (after depreciation), or out of the accumulated profits (after depreciation), or out of both; Out of money provided by the Central or State […]

Accounting Standard on Fixed Asset

Accounting Standard on Fixed Asset

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Fixed Assets are often comprise a significant portion of the total assets of an enterprise, and therefore are important in the presentation of financial position. Furthermore, the determination of whether expenditure represents an asset or an expense can have a material effect on an enterprise’s reported results of operations. Applicability: The said AS is applicable […]