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Forensic Accounting
Why Forensic Audit Was Initiated at IndusInd Bank?
Concerns raised over specific derivative transactions have placed IndusInd Bank, the leading private sector lender in India, under regulatory scrutiny. It is cl
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Financial Accounting Concepts
Operating Profit vs. Gross Profit vs. Net Profit
While reviewing an income statement, you probably noticed the terms gross profit, operating profit, and net profit. But do you understand what differentiates on
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Financial Accounting Concepts
Differences Between Events and Transactions
In accounting, the terms events and transactions are often used interchangeably by those unfamiliar with their technical distinctions. Yet, for accountants and
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Financial Accounting Concepts
Creative Accounting and Its Effects on Financial Reporting
Creative accounting is a financial strategy that involves manipulating financial statements to present a more favourable image of a company’s financial health.
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Financial Accounting Concepts
What is Cash Book? Features and Objectives
The cash book, in its simplest form, is a chronological record of all cash transactions (receipts and payments) made by a business. It serves as a primary book
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Financial Accounting Concepts
What is a Common-Size Financial Statement in Accounting?
A common-size financial statement is a type of financial statement where each line item is presented as a percentage of a base figure. The base figure is typica
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Corporate Accounting
Difference Between Interim and Final Dividend
Dividends are one of the most important means through which firms pay out profits to their shareholders, but dividends are not uniform. Firms can pay dividends
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Tax Accounting
What is Goods and Services Tax (GST)?
Goods and Services Tax (GST) is a broad indirect tax charged on the supply of goods and services. It was brought in to provide a simplified taxation system by c
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Cost Accounting
What Are Stock Control Cards – Pros and Cons Explained
Stock control is a critical function of inventory management, allowing businesses to hold the necessary amount of stock to satisfy demand without excess stock o
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Tax Accounting
5 Legit Expenses That Reduce Tax in Books of Accounts
Tax planning is an important part of financial management for companies and individuals. One of the best means of minimisng tax burdens legally is claiming vali