Employment benefit-means and insurance leaves or retirement benefits that an employer make available to an employee employment benefit mean all benefit provided or meet available to the employee by an employer including education healthcare insurance leave and retirement benefit as
Continue ReadingIAS19 – The Indian accounting standard IAS19 prescribes accounting and is closer to employment benefit which requires recognition of liability by an entity when an employee provides service for employee benefit to be paid in the future and recognition of
Continue ReadingIFRS Valuation Services in which the consultancy rely on the Madras expertise in financial computation for wide range of valuation for accounting and reporting purpose in particular the company and consultancy help in deriving the fair value or market value
Continue ReadingWhat is a Warranty? A Warranty is a form of guarantee given by a manufacturer or other similar entity on the condition of their product. It also refers to the conditions and circumstances under which repairs or exchanges will be
Continue ReadingSuperannuation Fund: What is it? According to the Cambridge Dictionary, “superannuation” refers to “cash which individuals spend whenever someone should be earning, such that they’ll get compensation whenever participants cease functioning, once they become old.” In other terms, annuities are
Continue ReadingFunding a Gratuity Scheme Gratuity is a portion of such a worker’s remuneration that is paid by his or her company in exchange for such tasks or services that the worker has provided to the organization. Funding a Gratuity Scheme.
Continue ReadingAccrued Liability – The phrase “accrued liability” focuses on the business cost which has been racked up and has not yet been compensated for. These are expenses for products and services that a business already has obtained but will have
Continue ReadingESOP Valuation – It’s a short position, which ensures that companies in an employee share scheme (ESOP) have no obligations as well as the ability to buy the equity assets at a specified price on a pre-determined date. This is
Continue ReadingFair market value is the estimate where a resource may sell on the market (FMV). Fair market value has come to signify the cost of assets under the following general set of conditions: Basic knowledge about FMV: Understanding and learning
Continue ReadingAccrued Expense Journal Entry – An accrued expense journal entry is formed by tracking expenditures incurred by a firm but not recompensed in that accounting cycle. The expenditure debiting and the accumulated liabilities credit balance. When a company clears up
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