These provisions can include obligations such as employee benefits, warranties, legal claims, and environmental liabilities.

If the employee don't disclose such asset in their schedule FA it could lead to a penalty of Rs.10 lakh ...

Other long-term liabilities encompass various obligations that are not due within the next 12 months but do not fall under ...

Representations have been received from the trade and field formations seeking clarification regarding the taxability of Employee Stock Option (ESOP)/ ...

Long-term borrowings are a crucial component of a company's balance sheet, representing obligations that are due beyond one year from ...

Auditing share application money pending allotment involves a thorough examination of authorization, receipt, accounting treatment, allotment, refund processes, and disclosures.

The insurance companies, which are engaged in providing general insurance services in respect of insurance of motor vehicles, insure the ...

Money received against share warrants is a significant item in the balance sheet of an Indian company. This refers to ...

GST Council recommends to roll-out the biometric-based Aadhaar authentication of registration applicants on pan-India basis in a phased manner

Reserves and Surplus represent the accumulated profits and funds set aside for specific purposes and are crucial indicators of a ...

Auditing share capital involves a comprehensive review of records, compliance with legal requirements, and ensuring financial transparency.

Further, the income tax department while conducting scrutiny or assessment for cases only considers sale consideration as income of the ...

Statutory audits involve multiple stakeholders, each with distinct roles and responsibilities. Understanding these roles is crucial for ensuring the effectiveness ...

The primary objectives of statutory audits revolve around ensuring the reliability and accuracy of financial statements, enhancing transparency, and fostering ...

Sections 143 to 147 delineate the duties, responsibilities, and liabilities of auditors, outlining their obligations to report on financial statements, ...