Skip to main content

Accounting Standard || Principles and Practice of Accounting Paper 1 (CA Foundation Online Classes)

 

Accounting Standard  || Principles and Practice of Accounting Paper 1



In this blog, we are going to discuss Accounting Standard, in accordance with Accounting Paper 1 of, CA Foundation, ICAI latest syllabus.

What Is an Accounting Standard?

An accounting standard is a common set of principles, standards, and procedures that define the basis of financial accounting policies and practices. Accounting standards relate to all aspects of an entity’s finances, including assets, liabilities, revenue, expenses, and shareholders' equity. The main objective of Accounting Standards is to establish standards that have to be complied with to ensure that financial statements are prepared in accordance with generally accepted accounting principles.



You Can Also Visit Our Website www.takshilalearning.com For More Detail For This Course.


Here, at Takshila Learning, we provide CA foundation online course Prepare yourself with our CA foundation class by our expert faculty.


For more details Follow Us on Our Social Handles.
Join Us on Facebook... 
https://www.facebook.com/takshilalearn/ 


Join Us on Pinterest... 
https://in.pinterest.com/takshilaelearn/ 

Join Us on Twitter... 
https://twitter.com/TakshilaLearn 

OR

Call Us @8800999280/83/84

Email us @ info@takshilalearning.com



Comments

Post a Comment

Thank you we will contact ASAP.

Popular posts from this blog

Allotment of DIN (Director Identification Number)

Allotment of DIN (Director Identification Number) CS professional course :  Section 153 of the Companies Act, 2013 read with Rule 9 of the Companies (Appointment and Qualification of Directors) Rules, 2014 Every individual intending to be appointed as a director as a director of a company shall make an application for allotment of Director Identification Number (DIN) to the Central Government in such form and manner and along with such fees as may be prescribed. Rule 9 of Companies (Appointment and Qualification of Directors) Rules, 2014 (1) Every Individual, who is to be appointed as a director of a company shall make an application electronically in Form DIR 3, to the Central Government for the allotment of a DIN along with such fees as provided in the Companies (Registration Offices and Fees) Rules, 2014. (2) The Central Government shall provide an electronic system to facilitate submission of an application for the allotment of DIN through the portal on the MCA21...
Post a Comment
Read more

PURCHASED GOODWILL METHOD UNDER IND AS 103

The acquisition of subsidiaries results in  Goodwill calculation  and also records net assets of the subsidiary at fair value on the date of acquisition. Let’s get answers to all the questions related to Goodwill, valuation of NCI, and impairment relating to them. Q1 – What are the ways in which an entity can make payment for purchase consideration? ANS: – Cash – Share exchange – Deferred payment – Contingent consideration Q2 – How is deferred payment dealt, when it forms part of purchase consideration? ANS:  The deferred payment is discounted to present value and included in the cost of consideration. At the end of each year, the liability is increased by unwinding the discount, until the payment is settled. For example, An amount of Rs. 108,000 was deferred to be paid after 2 years. The discount rate applicable is 8%. The net present value today of Rs. 108,000 is equal to (108,000 * 1) / (1.08) ^2)= Rs. 92,593 included in purchase consideration. A liability of Rs. 92,59...
Post a Comment
Read more

Contract of Guarantee important topic for CS Professionals

Contract of Guarantee important topic for CS Professionals For  CS Course  , Takshila Learning is offering CS Professional online classes for students in an easy, convenient, and simple way through our portal  www.takshilalearning.com .  It helps students to grab the conceptual knowledge in a different but simple way. CS online classes for CS preparation are a collection of HD-quality recorded lectures with the detailed explanation of the content by experienced and well-known faculties. An interesting topic from Drafting – ‘ Guarantees ’ is discussed below: Guarantees Contract of Guarantee A “ contract of Guarantee ” is a contract to perform the promise, or discharge the liability, of a third person in case of his default. A Guarantee may be either oral or written. Parties involved in the Contract Surety:  The person who gives the guarantee is called the  “surety”. Principal debtor:  The person in respect of whose default the gua...
Post a Comment
Read more