Liability – Definition and Types
What is Liability? Liability is a term in accountancy that is used to define any type of economic responsibility that a service needs to pay at the end of a bookkeeping …
Ind AS 23 Borrowing Costs Accounting Standards
CORE PRINCIPLE Ind AS 23 Borrowing Costs Accounting Standards The core principle of Ind AS 23 states that: Borrowing costs that are directly attributable to the acquisition, construction or production of …
Ind AS 116 Leases Accounting Standards
Know All about Ind AS 116 Leases Accounting Standards The MCA (Ministry of Corporate Affairs) has notified new standards on leases, i.e., Ind AS 116 vide its notification dated 30th March …
Companies (Auditor’s Report) Order CARO 2020
The Ministry of Corporate Affairs (MCA) has actually announced a new format of legal audits of firms. The MCA has informed Companies (Auditor’s Record) Order, 2020 on 25 February 2020 (CARO …
Kinds of Assets
Kinds of Assets What are the Key Types of Assets ? A Assets is a resource had or controlled by a specific, corporation, or government with the assumption that it will …