Saturday, May 25, 2024
How to manage liquidity in business
Tuesday, April 23, 2024
LIST OF IAS & IFRS
LIST OF IAS & IFRS |
||
SL |
Name of the standards |
Status |
IAS 1 |
Presentation of Financial Statements |
|
IAS 2 |
Inventories |
|
IAS 3 |
Consolidated Financial Statements |
Suspended in 1989 by IAS 27 & 28 |
IAS 4 |
Depreciation Accounting |
Withdrawn in 1999 |
IAS 5 |
Information to be disclosed in Financial Statements |
Suspended in 1998 by IAS 1 |
IAS 6 |
Accounting Responses to Changing Prices |
Suspended by IAS 15 Which was withdrawn in December 2003 |
IAS 7 |
Cash Flow Statements |
|
IAS 8 |
Accounting Policies, Changes in Accounting Estimates and Errors |
|
IAS 9 |
Accounting for Research & Development Activities |
Suspended by IAS 38 effective 1st July 1999 |
IAS 10 |
Events after the Balance Sheet Date |
|
IAS 11 |
Construction Contracts |
Suspended by IFRS 15 effective 1st January 2017 |
IAS 12 |
Income Taxes |
|
IAS 13 |
Presentation of Current Asset & liabilities |
Suspended by IAS 1 effective 1st July 1998 |
IAS 14 |
Statement Reporting |
|
IAS 15 |
Information reflecting the effects of Changing Prices |
Withdrawn in December 2003 |
IAS 16 |
Property, Plant and Equipment |
|
IAS 17 |
Lease |
Suspended by IFRS 16 effective 1st January 2019. |
IAS 18 |
Revenue |
Suspended by IFRS 15 effective 1st January 2017. |
IAS 19 |
Employee Benefits (1998 & 2011) |
Employee Benefits - 1998 Suspended by IAS 19 (2011) effective 1st January 2013. |
IAS 20 |
Accounting for Government Grants and Disclosure of Government Assistance |
|
IAS 21 |
The Effects of Changes in Foreign Exchange Rate |
|
IAS 22 |
Business Combinations |
Suspended by IFRS 3 effective 31st March 2004. |
IAS 23 |
Borrowing Costs |
|
IAS 24 |
Related Party Disclosure |
|
IAS 25 |
Accounting For Investment |
Suspended by IAS 39 & IAS 40 effective 2001. |
IAS 26 |
Accounting and Reporting by Retirement Benefit Plans |
|
IAS 27 |
Consolidated and Separated Financial Statements (2003 & 2011) |
IAS - 27 (2003) - Suspended by IFRS 10 IFRS 12 & IAS 27 - 2011 Effective 1st January 2013 |
IAS 28 |
Investments in Associates |
Suspended by IAS 28 - (2011) & IFRS 12 effective 1st January 2013. |
IAS 29 |
Financial Reporting in Hyperinflationary Economies |
|
IAS 30 |
Disclosure in the Financial Statements of Banks & Similar Financial Institutions |
Suspended by IFRS 7 effective 1st January 2007. |
IAS 31 |
Interests in Joint Ventures |
Suspended by IFRS 11 & IFRS 12 effective 1st January 2013. |
IAS 32 |
Financial Instrument: Presentation |
|
IAS 33 |
Earnings Per Share |
|
IAS 34 |
Interim Financial Reporting |
|
IAS 35 |
Discontinued Operations |
Suspended by IFRS 5 effective 1st January 2005. |
IAS 36 |
Impairment of Assets |
|
IAS 37 |
Provisions, Contingent Liabilities and Contingent Assets |
|
IAS 38 |
Intangible Assets |
|
IAS 39 |
Financial Instruments: Recognition and Measurement |
Suspended by IFRS 9 where IFRS 9 is applied. |
IAS 40 |
Investment Property |
|
IAS 41 |
Agriculture |
|
|
||
IFRS 1 |
First-Time Adoption Of IFRSs |
|
IFRS 2 |
Share-Based Payment |
|
IFRS 3 |
Business Combinations |
|
IFRS 4 |
Insurance Contracts |
Suspended By IFRS 17 as of 1 January 2023 |
IFRS 5 |
Non-Current Assets Held For Sale And Discontinued Operations |
|
IFRS 6 |
Exploration For And Evaluation Of Mineral Resources |
|
IFRS 7 |
Financial Instruments: Disclosures |
|
IFRS 8 |
Operating Segments |
|
IFRS 9 |
Financial Instruments |
|
IFRS 10 |
Consolidated Financial Statements |
|
IFRS 11 |
Joint Arrangements |
|
IFRS 12 |
Disclosure Of Interests In Other Entities |
|
IFRS 13 |
Fair Value Measurement |
|
IFRS 14 |
Regulatory Deferral Accounts |
|
IFRS 15 |
Revenue From Contracts With Customers |
|
IFRS 16 |
Leases |
|
IFRS 17 |
Insurance Contracts |
|
Tuesday, December 26, 2023
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Friday, July 2, 2021
Four types of people
Category 1: They know what they know. (These are excellent people because they can effectively use their ability in their respective field).
Category 2: They know what they don't know. (These are good people because they will develop themselves).
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Saturday, August 1, 2020
Discuss the circumstances on which the court orders for winding up of a Company on "just and equitable" ground.
Tuesday, April 7, 2020
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Wednesday, September 18, 2019
Discuss the duties and functions of promoters. Directors and Auditors of a company
The main duties and functions of a promoter is to undertake to form a Company with reference to agreement for the project. He has to handle all legal formalities for formation of a Company.
1. He may be a promoter to acquire the property for the company in which case, all the rules of agency would apply. Accordingly, any profit he may make will belong to the company.
2. He may acquire the property himself and then decide to form a Company and sell the property to it in which case no question of agency or trusteeship arises. He can make what bargain he chooses without being under any obligation to disclose the profits.
3. He may acquire the property with a view to resell it to the Company which he intends to promote, in which case he becomes bound by the fiduciary obligation and if he makes a profit he must disclose it to the Company.
Duties and functions of Directors:
1. Distribution of work: among the staff;
2. Every director must act honestly and in the interest of the Company;
3. A Director must exercise such degree of skill and diligence as would amount to the reasonable care.
4. A Director should perform his duties at a greater degree of skill.
5. A Director should attend the Board or other meetings and should act according to the decision of the meeting.
6. To hold the AGM.
7. To maintain proper books of accounts.
8. Recommendation of dividend.
9. Disclosure of information as required by the Act and as required by others Act, rules, regulations and regulatory authorities.
Duties and functions of Auditor:
The main duty of an Auditor of a Company is to express an independent opinion on the financial statements prepared by the company. The auditor should conduct the Audit in accordance with BSA to obtain a reasonable assurance about whether the financial statements are free from all material misstatements. The auditor shall inquire into the following.
a) Whether loans and advances made by the company on the basis of security which have been properly secured and whether the terms on which they have been made are not prejudicial to the interests of the company or its members.
b) Whether transactions of the company which arc represented merely as book-entries are prejudicial to the interests of the company.
c) Where the company is not an investment company or a banking company, whether so much of the assets of the company as consist of shares, debentures and other securities, have been sold at a price less than its purchased price by the company.
d) Whether personal expenses have been charged to revenue account.
e) Whether it is stated in the books and paper of the company that any shares have been allotted for cash, whether cash has actually been received in respect of such allotment and if no cash has actually been so received, whether the position as stated in the accounts, books and the balance sheet is correct, regular and not misleading.
Friday, August 16, 2019
Draft a hypothetical resolution of transfer of shares to be adopted by a board of directors.
A meeting of the Board of Director of Tanmoy Company limited was held on —at its registered office.
Following members of the Board were present:
1. Mr. X
2. Mr. Y
3. Mr. Z
Mr. X, Chairman of the Board presided over the meeting.
Following business were transacted in the meeting:
Agenda: 1 Proposal of transfer of shares of shareholder Mr. T
The board was informed that Mr. T applied for transfer of 100 shares from his name to Mr. K and form 117 and related share certificates were submitted duly for necessary action. After discussion the Board decided as follows:
"The proposal for transfer of shares is approved".
Mr. L Mr. X
Company Secretary Chairman of the Board of Directors
State the time limit for registration of transfer of shares.
As per clause 12(2) of listings regulations the Company shall complete share transfer and have those ready for delivery the share certificates lodged for registration of transfer within 45 days of the application for such transfer and its registration.
Draft a specimen notice of refusal to register transfer of shares.
I do hereby beg to draw your kind self that the Board of Directors in the meeting held on……………………. Declined to recognize the transfer of enclosed number of shares as applied by you on …………………….. due to the non submission of form 117 from your end.
Company Secretary.
Saturday, June 15, 2019
VAT Consultant Appointment Exam in Bangladesh related SRO 2019 (বাংলাদেশে ভ্যাট কনসালট্যান্ট নিয়োগ পরীক্ষা সংক্রান্ত বিজ্ঞপ্তি ২০১৯।)
নিচের লিংক এ ক্লিক করুন।
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Monday, April 22, 2019
In what circumstances can the directors decline a transfer of shares?
The directors may decline to register any transfer of shares not being fully paid up shares, to a person of whom they do not approve, and may also decline lo register any transfer of shares on which the company has lien. The directors may suspend the registration of transfer during the fourteen days immediately preceding the ordinary general meetings in each year. The directors may decline to recognize any instrument of transfer or refuse to register such transfer, unless –
a) the instrument of transfer is accompanied by the certificate of share to which it relates; and
c) Form 117 is duly filled up.
Differentiate between ordinary resolution, special resolution and extra ordinary resolution.
This is passed by the majority vole of members present at a general meeting. Such a resolution is passed in the ordinary way and deals with ordinary business, such as passing of accounts, appointing directors, auditors, and declaration of dividends and so on.
This is passed in a general meeting by the three-fourths majority of the members present in person or by proxy, provided notice for such meeting specifying the intention to propose the resolution is given at least twenty-one days before the date of the meeting. Special resolutions are required -
a) to change the name of the company with consent of the registrar;
b) to alter the memorandum;
c) to alter the articles etc.
Extra Ordinary resolution:
This is passed by such majority vote at a meeting of which 21 days notice has been given. The notice must specify the intention to propose the resolution as an extra-ordinary resolution [Section-87(i)]. Such resolution is necessary when a company is sought to be wound-up voluntarily on the ground of that it cannot continue its business on account of its liabilities and also for a number of other reasons.
Wednesday, February 13, 2019
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Application of Forensic Audit in Private and Public Sector Organizations
Forensic auditing has emerged as a powerful tool in both private and public sector organizations to combat fraud, ensure transparency, and m...