The Finance (No.2) Bill, 2024 has proposed changes in the CGST Act, IGST Act, UTGST Act and GST (Compensation to States) Act, 2017through Clauses 110 to 146 of the Bill
India is growing at an accelerated pace, and people are undertaking multiple financial transactions. The Income Tax Department has established a robust framework for reporting taxpayers' transactions. The provisions of
There are significant differences between US GAAP and IFRS in accounting for pension and other postretirement and postemployment benefits. Some differences lead to less earnings volatility, while others increase it.
With increased scrutiny from the Department of Labor (DOL), Internal Revenue Service (IRS), and Employee Benefits Security Administration (EBSA), valuations of Employee Stock Ownership Plans (ESOPs) are best conducted by
A suspense account can be a valuable tool for managing uncertain transactions. It acts as a temporary placeholder until you can clarify the details. Here are some practical examples of
As the second quarter comes to a close, it’s essential to ensure your financial records are accurate and up to date. This checklist will help guide you through the process.
In the dynamic landscape of manufacturing, controlling costs while maintaining operational efficiency is paramount to sustained profitability and competitiveness. This comprehensive guide delves into the intricacies of cost control procedures,
The 53rd meeting of the Goods and Services Tax (GST) Council was held on June 22 in New Delhi. Several recommendations were made at the meet to refine tax rates
Integrating SAP ERP with Oracle Hyperion Financial Management (HFM) enables organizations to streamline their financial consolidation and reporting processes. This integration combines the strengths of SAP’s robust enterprise resource planning
Understanding Revenue RecognitionRevenue recognition is a critical accounting method for businesses dealing with large contracts and upfront payments, where customers pay in advance but receive the service over time. For