USD-INR Charting its own course…
Mar 29th
Equity markets continued their journey north with all major markets closing in the green for the week. The Sensex was up 100 points with indices worldwide crossing recent highs. Gold ended unchanged from last week at 1107. The European leaders seem to have a worked up an arrangement to help Greece ending the long stalemate [...]
IFRS on Effective Interest Rate
Mar 25th
Effective Interest Rate
Effective Interest Rate (EIR) is a new concept to the existing Indian GAAP.
TheEffective Interest Rate (EIR) method is a method of calculating the amortized cost of a financial asset or a financial liability and of allocating the interest income or interest expense over the relevant period.
TheEffective Interest Rate (EIR)use in the allocation process is [...]
RBI Raises Repo, Reverse Repo Rates
Mar 23rd
Before getting into the details, let us first understand -
What is Repo Rate?
Definition of Repo Rate: Whenever the banks have any shortage of funds they can borrow it from RBI. Repo rate is the rate at which commercial banks borrow rupees from RBI. A reduction in the repo rate will help banks to get money [...]
Comparison of IFRS and Indian Accounting Standards
Mar 23rd
IFRS is a novel way of looking at accounting. IFRS is a “principle-based” standards rather than “rule-based” standard which are currently followed.
Under IFRS there is need to apply professional judgment consistent with intent and spirit of standards.
Various countries have adapted to IFRS in different ways, often embedding local cultures and that is why there are [...]
Challenges for implementation of IFRS
Mar 19th
Key Practical Challenges for implementation of IFRS in India for Banking Industry
No stable Platform: There are many changes / amendment taking place for most of the standards from International Accounting Standard Board there has been no stable platform ready for banks.
Training: All Stakeholders has to be conversant and shall be able to understand and interpret [...]
Continue the Economic Stimulus
Mar 17th
Continuing the Medication..!!
Suppose you are seriously ill since 2 years and are on medication. Your condition is also improving slightly. However, on your last doctor’s visit, he says that he will continue your medication for the extended period. What would this mean to you and your family, that actually you have not recovered well and [...]
