Finance & Accounting

Every small or big business is outsourcing some or the other function to outside third parties. As a small business, it is evident that you cannot undertak...

Financial accounting is the process of collecting data in order to create financial statements. On the other hand, managerial accounting is the internal pr...

To have greater transparency and uniformity, a company has to ensure high quality corporate financial reporting, maintain records, and report expenses and...

The term ‘Cost Management’ is in vogue in business jargon these days. Unfortunately, no specific definition has been available to entirely cover all th...

There are several types of financial reports that provide an insight into the past, present and future financial status of your business. Every business ow...

Every company has multiple departments having different functions for handling and achieving organisational goals. All the departments have their specific...

Interim Financial Reporting is a detailed financial report prepared by a company for measuring and evaluating the firm’s progress on a less than annual b...

International Financial Reporting Standard lists are the guiding rules set for maintaining records and financial affairs of a business entity. IRFS Standar...

Foreign currency transactions, foreign activities, and translation to presentation currency are all covered by IAS 21. Foreign currency transactions and op...

The component of IAS 27 on Consolidated and Separate Financial Statements that deals with accounting for subsidiaries on consolidation is replaced by IFRS...

Introduction Every nation follows its own set of policies and standards for accounting. However, because of globalization in the previous few decades when...

IAS 26 establishes the measurement and disclosure criteria for reporting retirement benefit schemes. All plans must provide a statement of changes in net a...