What is GAAP (Generally Accepted Accounting Principles)

What is GAAP (Generally Accepted Accounting Principles)?

March 23, 2023Posted inAdvance AccountingNo Comments
GAAP (Generally Accepted Accounting Principles) refers to the accounting principles, standards, and guidelines that are generally accepted and followed by companies in India for the preparation and presentation of financial statements. These principles are developed and issued by the Institute of Chartered Accountants of India (ICAI) and are based on the historical cost convention.
Ethics in Accounting in India

What are the Ethics in accounting in India

March 23, 2023Posted inAdvance AccountingNo Comments
Ethics in accounting refers to the principles and values that guide the behavior of individuals and organizations in the accounting profession. In India, the Institute of Chartered Accountants of India (ICAI) has issued a code of ethics for its members to follow in order to maintain integrity, objectivity, confidentiality, and professional competence in their work.
Succession planning in Organization

Succession Planning in Organization

March 15, 2023Posted inAdvance AccountingNo Comments
Succession planning refers to the process of identifying and developing potential leaders within an organization to take over key leadership positions in the future. In India, succession planning is becoming increasingly important as the country's economy continues to grow and as more and more businesses look to expand internationally.
Professional conduct for Institute of Chartered Accountants of India (ICAI)

Professional conduct for Institute of Chartered Accountants of India (ICAI)

March 15, 2023Posted inAdvance AccountingNo Comments
Professional conduct refers to the behavior and actions of individuals and organizations in a particular profession, such as accounting. In India, the Institute of Chartered Accountants of India (ICAI) has issued a code of professional conduct for its members to follow in order to maintain integrity, objectivity, confidentiality, and professional competence in their work.
Company Mergers and acquisitions in India

Company Mergers and acquisitions in India

March 15, 2023Posted inAdvance AccountingNo Comments
Mergers and acquisitions (M&A) refer to the process of combining two or more companies into a single entity through the purchase, merger, or consolidation of one company by another. In India, M&A activity has been increasing in recent years, driven by factors such as economic growth, liberalization of the Indian economy, and increased competition.
Indian Accounting Standards (Ind AS)

Indian Accounting Standards (Ind AS)

March 15, 2023Posted inAdvance AccountingNo Comments
Indian Accounting Standards (Ind AS) are a set of accounting standards developed by the Institute of Chartered Accountants of India (ICAI) to improve the comparability, consistency, and transparency of financial reporting in India. These standards are mandatory for certain companies and are based on the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB).
Financial modeling in India

Financial Modeling in India

March 15, 2023Posted inAdvance AccountingNo Comments
Financial modeling is a process of creating a mathematical representation of a financial situation or scenario, such as a company's financial performance or a project's cash flow, to aid in decision-making and forecasting. In India, financial modeling is an important tool used by businesses, investors, and financial professionals to evaluate investment opportunities and make informed decisions.
Financial fraud in India

Financial fraud in India

March 15, 2023Posted inAdvance AccountingNo Comments
Financial fraud refers to illegal activities that involve the misuse or misappropriation of funds, assets, or other financial resources for personal or organizational gain. In India, financial frauds have been a significant concern in recent years, impacting various sectors such as banking, finance, and corporate sectors.
Financial crime in India

Financial crime in India

March 15, 2023Posted inAdvance AccountingNo Comments
Financial crime refers to illegal activities that involve the misuse or misappropriation of funds, assets, or other financial resources. In India, financial crimes have been a significant concern in recent years, impacting various sectors such as banking, finance, and corporate sectors.