As 06
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This document outlines Accounting Standard 6 on depreciation accounting. It defines depreciation as the wearing out or loss of value of an asset due to use or age. It defines depreciable assets as those used for over a year in production, supply of goods/services, or administration. The depreciable amount is the historical cost less estimated residual value. Depreciation must be allocated systematically over the useful life of the asset using methods like straight-line or written down value. Disclosures include historical costs, depreciation for the period, accumulated depreciation, methods used, and rates if different from statutory rates.
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Ind AS- 16
PPE refers to tangible items held for use in production or supply of goods and services with an expected useful life of more than one year. The standard outlines the accounting treatment for PPE, including initial recognition at cost, subsequent measurement using either the cost or revaluation model, depreciation, and derecognition. It also provides disclosure requirements such as the measurement basis, depreciation methods used, carrying amounts, and details related to revalued assets.
Property plant and equipment ias 16
IAS 16 provides guidance on accounting for property, plant and equipment. It requires initial recognition of assets at cost and subsequent measurement using either the cost model or revaluation model. It also provides guidance on depreciation, derecognition, and disclosures of property, plant and equipment. Some key differences from Indian GAAP include requirements for regular revaluation, a component approach for depreciation, and capitalization of certain subsequent expenditures.
Auditing depreciation for b.com
This document provides an overview of depreciation accounting. It defines depreciation as the permanent decrease in the value of an asset due to factors like wear and tear, obsolescence, or the passage of time. The document outlines various causes of depreciation including wear and tear, exhaustion, effluxion of time, weather effects, and permanent declines in asset value. It also discusses objectives of recording depreciation such as correctly calculating profits, complying with legal requirements, and maintaining the integrity of capital. Finally, the document introduces different depreciation methods used in accounting like the straight-line method, declining balance method, and annuity method.
Accounting standards
The document summarizes Accounting Standard 6 regarding depreciation accounting in India. It defines depreciation as the wearing out or loss of value of an asset due to use over time. Depreciable assets must be used for more than one accounting period and have a limited useful life. The standard outlines acceptable depreciation methods like straight-line and written down value. It specifies when a change in depreciation method is appropriate and how to account for it. The document also discusses factors to consider in determining an asset's useful life and residual value for depreciation purposes.
Depreciation Accounting
Depreciation Accounting by CA Raj K Agrawal-
In this ppt, you will learn everything about Depreciation Accounting of Principles & Practice of Accounting (CA Foundation).
Indian Accounting standards
The document discusses Indian accounting standards, including the meaning and benefits of accounting standards. It provides details on several specific accounting standards such as AS1 on disclosure of accounting policies, AS6 on depreciation accounting, AS9 on revenue recognition, and AS10 on accounting for fixed assets. The standards cover topics such as selection and disclosure of accounting policies, methods of depreciation, timing of revenue recognition, calculation of costs of fixed assets, and revaluation of fixed assets. The overall objective of the accounting standards is to standardize different accounting policies and practices in India.
ADJUSTMENTS FIXED ASSETS.pptx
The statement of financial position is another term for the balance sheet. The statement lists the assets, liabilities, and equity of an organization as of the report date. As such, it provides a snapshot of the financial condition of a business as of a specific date. It is one of the financial statements, and so is commonly presented alongside the income statement and statement of cash flows.
Accounting standards(as)
This document discusses Accounting Standard 2 and 6. AS 2 provides guidance on determining inventory costs and valuation. It specifies methods for computing inventory costs and determining the amount to report in financial statements. AS 6 deals with depreciation accounting. It applies to all depreciable assets except certain specified items. AS 6 requires that the depreciable amount of an asset be allocated systematically over its useful life and that the depreciation method be applied consistently over time. Both standards provide principles for uniform accounting practices related to inventory valuation and depreciation.
Webcast accountingstandardsas 6,10&28
This document summarizes key aspects of Accounting Standards 6, 10, and 28 regarding depreciation, fixed assets, and impairment of assets. It covers definitions of depreciable assets and useful life, methods of depreciation, measurement and recording of fixed assets, revaluation of assets, and indicators and methods for determining impairment losses and their reversal. The document provides guidance on calculating and accounting for depreciation, recording additions and disposals of fixed assets, and disclosure requirements relating to these standards.
Webcast accountingstandardsas 6,10&28
This document summarizes key aspects of Accounting Standards 6, 10, and 28 regarding depreciation, fixed assets, and impairment of assets. It covers definitions of depreciable assets and useful life, methods of depreciation, measurement and recording of fixed assets, revaluation of assets, and indicators and methods for determining impairment losses and their reversal. The document provides guidance on calculating and accounting for depreciation, recording additions and disposals of fixed assets, and disclosure requirements relating to these standards.
Depreciation tax law.pptx
This document discusses depreciation, provisions, and reserves. It begins by defining depreciation as a fall in the value of an asset due to usage, the passage of time, obsolescence, or accidents. It then discusses the causes, need, and factors affecting depreciation. Finally, it explains the straight-line and written down value methods of charging depreciation, as well as related terms like depletion and amortization.
Similar to As 06 (20)
More from Praveen Kumar
Useful charts for tax compliances
Useful Charts for Tax Compliances (Useful to have with you in your computer within easy reach) like ready reconer :-)
Visit my blog for Latest updates on Income Tax, TDS and many more :-)
http://latestupdatesofincometax.blogspot.com/
have fun. :-)
God bless you.
Regards
Praveen
Latest updates of income tax by praveen kumar
This document provides a summary of updates related to income tax, TDS, and other financial regulations in India. It includes changes to income tax rates and limits, due dates for tax compliance, updates on electronic filing procedures, and summaries of recent court rulings related to tax law. The document is an informative resource for finance professionals to stay up-to-date on their compliance obligations and understand the latest tax regulations.
As 04
This document summarizes accounting standards for contingencies and events occurring after the balance sheet date. It states that contingent losses should be accounted for if a future loss is probable and can be reasonably estimated. Contingent gains are not recognized. Contingent losses that do not meet these criteria must be disclosed along with their nature and estimated financial effect. Significant events after the balance sheet date must also be disclosed if they provide evidence of pre-existing conditions or new conditions after the balance sheet date.
As 20
This document discusses Accounting Standard 20 on Earnings Per Share. It outlines how to calculate basic and diluted EPS, including determining the weighted average number of shares, adjusting for rights issues, and the treatment of convertible instruments. Basic EPS is calculated by dividing earnings by the weighted average number of equity shares outstanding. Diluted EPS considers all dilutive potential equity shares. Disclosures required include reconciliations of EPS numerators and denominators.
As 16
Accounting Standard 16 outlines the accounting treatment for borrowing costs related to qualifying assets. It requires that borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset be capitalized as part of the cost of that asset. Other borrowing costs should be recognized as an expense. Capitalization of borrowing costs should commence when funds are borrowed and activities to prepare the asset are underway, and cease when the asset is ready for its intended use or sale. Certain disclosures regarding capitalized borrowing costs are also required.
As 27
This document outlines accounting standards for reporting interests in joint ventures. It defines a joint venture and joint control. It describes the forms of joint ventures as jointly controlled operations, assets, or entities. It provides guidance on accounting treatments for these different forms in separate or consolidated financial statements, including proportionate consolidation for jointly controlled entities. It also specifies disclosure requirements.
As 22
This document outlines an accounting standard for taxes on income. It defines key terms like accounting income, taxable income, permanent differences, and timing differences. It provides an example to illustrate the treatment of deferred taxation when depreciation is treated differently for accounting and tax purposes. It also covers recognition, measurement, disclosure requirements, and transitional provisions for the standard.
As 13
This document outlines accounting standards for investments. It defines investments as assets held for earning income or capital appreciation. Investments are classified as either long-term or current. Cost of investments includes the basic cost and acquisition charges. Carrying amounts of current investments are at lower of cost or fair value, while long-term investments are at cost, with provisions for permanent declines. Disclosure requirements include classification of investments, accounting policies, income/losses from investments, and restrictions.
As 22
This document discusses accounting for taxes on income under Accounting Standard 22. It defines permanent differences and timing differences that cause differences between accounting income and taxable income. Timing differences arise in one period but reverse in subsequent periods, distorting period results. AS 22 requires adoption of deferred tax accounting to account for the tax effects of timing differences. It provides guidelines on recognition, measurement, and disclosure of current and deferred tax assets and liabilities.
As 17
Accounting Standard 17 outlines requirements for segment reporting in financial statements. It requires companies to report financial information for different business segments and geographical segments. Applicable to listed companies and unlisted companies with annual turnover over Rs. 50 crores from April 2001. A business segment is a distinguishable component engaged in providing an individual product or service subject to different risks and returns. A geographical segment provides products/services in a particular economic environment subject to different risks and returns. Reportable segments meet certain thresholds for revenue, profit/loss, or assets. At least 75% of total revenue should be included in reportable segments. Comparative segment data is required. Primary reporting format is by business segment or geographical segment depending on how risks and returns are
As 12
This document outlines accounting standards for government grants. It defines government grants and outlines how they should be accounted for, either through a capital or income approach. Grants should only be recognized when there is reasonable assurance of compliance with conditions and collection is certain. Extraordinary grants may be recognized immediately. Non-monetary grants are recorded at cost or nominal value. Grants related to assets may be deducted from assets, treated as deferred income, or credited to capital reserves. Grants related to revenue are recognized over related costs. Refunds of grants are also addressed.
As 09
Accounting Standard-9 provides guidance on revenue recognition. It covers revenue from sale of goods, rendering of services, and use of enterprise resources. Revenue is recognized when risks and rewards are transferred for sale of goods or when services are completed or proportionately. Disclosure is required when revenue recognition is postponed due to uncertainties.
As 08
- Accounting Standard-8 provides guidance on the treatment of costs associated with research and development in financial statements.
- It allows for R&D costs to either be expensed in the period incurred or deferred to future periods if certain criteria are met, such as the project being clearly defined with separately identifiable costs.
- Deferred R&D costs must be reviewed periodically and written off if the deferral criteria are no longer met, though previously expensed costs cannot be reinstated even if uncertainties are later resolved.
As 05
This document outlines accounting standard requirements for disclosing net profit or loss, prior period items, and changes in accounting policies. Key requirements include separately disclosing the nature and amount of extraordinary items, ordinary items of significant size or nature, prior period items and their impact on current profit or loss, changes in accounting estimates with material effects, and the impact of changes in accounting policies.
As 21
The document outlines the Accounting Standard 21 for consolidated financial statements in India. It discusses the objective to formulate principles for consolidated financial statements. It applies to group enterprises controlled by a parent company. The standard defines control and outlines the composition, scope, and procedures for consolidation. It discusses eliminating investments, minority interests, uniform policies, and disclosure requirements for consolidated financial statements.
As 02
This document summarizes the key principles for valuing inventory according to Accounting Standard 2. Inventories should be valued at the lower of cost and net realizable value. Cost includes costs of purchase, conversion, and other costs to bring inventory to its present location and condition, but excludes abnormal wastage, storage costs unless necessary for production, and administrative and selling overheads. Net realizable value is estimated selling price less costs to complete and sell. Certain inventories like work in progress for construction contracts are excluded from this standard.
As 03
The document outlines Accounting Standard 3 which provides guidance on preparing and presenting a cash flow statement. It defines key terms like cash, cash equivalents, and cash flows. It classifies cash flows into three categories - operating, investing and financing activities - and provides examples of cash flows that would fall under each category. The cash flow statement should report the cash flows of an enterprise during a period, classified by these three activities.
As 19
The document outlines Accounting Standard 19 on leases. It discusses the scope, objectives and classification of leases as either finance leases or operating leases. Finance leases transfer substantially all risks and rewards of ownership to the lessee. It provides examples of finance leases and indicators. It also discusses accounting treatment, disclosures and illustrations for lessors and lessees for both finance and operating leases.
As 18 Jpku
The accounting standard establishes requirements for disclosure of related party relationships and transactions between a reporting enterprise and its related parties. It defines related parties as those able to exercise control or significant influence over the enterprise. Disclosures include the nature of relationships, types and amounts of transactions, and outstanding balances. The standard aims to highlight the possibility that related party relationships may not reflect arm's length transactions.
As 18
The document discusses the disclosure requirements for related party transactions under the Indian accounting standard AS-18. It defines related parties as individuals or entities that have the ability to control or exercise significant influence over the reporting entity. It requires disclosure of the nature and volume of transactions between the reporting entity and its related parties, as well as outstanding balances and any provisions for doubtful debts involving such parties. The disclosures are necessary because related party transactions may not be conducted under normal commercial terms.
More from Praveen Kumar (20)
Recently uploaded
June Patch Tuesday
Ivanti’s Patch Tuesday breakdown goes beyond patching your applications and brings you the intelligence and guidance needed to prioritize where to focus your attention first. Catch early analysis on our Ivanti blog, then join industry expert Chris Goettl for the Patch Tuesday Webinar Event. There we’ll do a deep dive into each of the bulletins and give guidance on the risks associated with the newly-identified vulnerabilities.
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A Mix Chart displays historical data of numbers in a graphical or tabular form. The Kalyan Rajdhani Mix Chart specifically shows the results of a sequence of numbers over different periods.
“Building and Scaling AI Applications with the Nx AI Manager,” a Presentation...
“Building and Scaling AI Applications with the Nx AI Manager,” a Presentation...Edge AI and Vision Alliance
For the full video of this presentation, please visit: https://www.edge-ai-vision.com/2024/06/building-and-scaling-ai-applications-with-the-nx-ai-manager-a-presentation-from-network-optix/
Robin van Emden, Senior Director of Data Science at Network Optix, presents the “Building and Scaling AI Applications with the Nx AI Manager,” tutorial at the May 2024 Embedded Vision Summit.
In this presentation, van Emden covers the basics of scaling edge AI solutions using the Nx tool kit. He emphasizes the process of developing AI models and deploying them globally. He also showcases the conversion of AI models and the creation of effective edge AI pipelines, with a focus on pre-processing, model conversion, selecting the appropriate inference engine for the target hardware and post-processing.
van Emden shows how Nx can simplify the developer’s life and facilitate a rapid transition from concept to production-ready applications.He provides valuable insights into developing scalable and efficient edge AI solutions, with a strong focus on practical implementation.Monitoring and Managing Anomaly Detection on OpenShift.pdf
Monitoring and Managing Anomaly Detection on OpenShift
Overview
Dive into the world of anomaly detection on edge devices with our comprehensive hands-on tutorial. This SlideShare presentation will guide you through the entire process, from data collection and model training to edge deployment and real-time monitoring. Perfect for those looking to implement robust anomaly detection systems on resource-constrained IoT/edge devices.
Key Topics Covered
1. Introduction to Anomaly Detection
- Understand the fundamentals of anomaly detection and its importance in identifying unusual behavior or failures in systems.
2. Understanding Edge (IoT)
- Learn about edge computing and IoT, and how they enable real-time data processing and decision-making at the source.
3. What is ArgoCD?
- Discover ArgoCD, a declarative, GitOps continuous delivery tool for Kubernetes, and its role in deploying applications on edge devices.
4. Deployment Using ArgoCD for Edge Devices
- Step-by-step guide on deploying anomaly detection models on edge devices using ArgoCD.
5. Introduction to Apache Kafka and S3
- Explore Apache Kafka for real-time data streaming and Amazon S3 for scalable storage solutions.
6. Viewing Kafka Messages in the Data Lake
- Learn how to view and analyze Kafka messages stored in a data lake for better insights.
7. What is Prometheus?
- Get to know Prometheus, an open-source monitoring and alerting toolkit, and its application in monitoring edge devices.
8. Monitoring Application Metrics with Prometheus
- Detailed instructions on setting up Prometheus to monitor the performance and health of your anomaly detection system.
9. What is Camel K?
- Introduction to Camel K, a lightweight integration framework built on Apache Camel, designed for Kubernetes.
10. Configuring Camel K Integrations for Data Pipelines
- Learn how to configure Camel K for seamless data pipeline integrations in your anomaly detection workflow.
11. What is a Jupyter Notebook?
- Overview of Jupyter Notebooks, an open-source web application for creating and sharing documents with live code, equations, visualizations, and narrative text.
12. Jupyter Notebooks with Code Examples
- Hands-on examples and code snippets in Jupyter Notebooks to help you implement and test anomaly detection models.
HCL Notes and Domino License Cost Reduction in the World of DLAU
Webinar Recording: https://www.panagenda.com/webinars/hcl-notes-and-domino-license-cost-reduction-in-the-world-of-dlau/
The introduction of DLAU and the CCB & CCX licensing model caused quite a stir in the HCL community. As a Notes and Domino customer, you may have faced challenges with unexpected user counts and license costs. You probably have questions on how this new licensing approach works and how to benefit from it. Most importantly, you likely have budget constraints and want to save money where possible. Don’t worry, we can help with all of this!
We’ll show you how to fix common misconfigurations that cause higher-than-expected user counts, and how to identify accounts which you can deactivate to save money. There are also frequent patterns that can cause unnecessary cost, like using a person document instead of a mail-in for shared mailboxes. We’ll provide examples and solutions for those as well. And naturally we’ll explain the new licensing model.
Join HCL Ambassador Marc Thomas in this webinar with a special guest appearance from Franz Walder. It will give you the tools and know-how to stay on top of what is going on with Domino licensing. You will be able lower your cost through an optimized configuration and keep it low going forward.
These topics will be covered
- Reducing license cost by finding and fixing misconfigurations and superfluous accounts
- How do CCB and CCX licenses really work?
- Understanding the DLAU tool and how to best utilize it
- Tips for common problem areas, like team mailboxes, functional/test users, etc
- Practical examples and best practices to implement right away
How to Get CNIC Information System with Paksim Ga.pptx
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UiPath Test Automation using UiPath Test Suite series, part 6
Welcome to UiPath Test Automation using UiPath Test Suite series part 6. In this session, we will cover Test Automation with generative AI and Open AI.
UiPath Test Automation with generative AI and Open AI webinar offers an in-depth exploration of leveraging cutting-edge technologies for test automation within the UiPath platform. Attendees will delve into the integration of generative AI, a test automation solution, with Open AI advanced natural language processing capabilities.
Throughout the session, participants will discover how this synergy empowers testers to automate repetitive tasks, enhance testing accuracy, and expedite the software testing life cycle. Topics covered include the seamless integration process, practical use cases, and the benefits of harnessing AI-driven automation for UiPath testing initiatives. By attending this webinar, testers, and automation professionals can gain valuable insights into harnessing the power of AI to optimize their test automation workflows within the UiPath ecosystem, ultimately driving efficiency and quality in software development processes.
What will you get from this session?
1. Insights into integrating generative AI.
2. Understanding how this integration enhances test automation within the UiPath platform
3. Practical demonstrations
4. Exploration of real-world use cases illustrating the benefits of AI-driven test automation for UiPath
Topics covered:
What is generative AI
Test Automation with generative AI and Open AI.
UiPath integration with generative AI
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
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#MongoDB #VectorSearch #AI #SemanticSearch #TechInnovation #DataScience #LLM #MachineLearning #SearchTechnology
HCL Notes und Domino Lizenzkostenreduzierung in der Welt von DLAU
Webinar Recording: https://www.panagenda.com/webinars/hcl-notes-und-domino-lizenzkostenreduzierung-in-der-welt-von-dlau/
DLAU und die Lizenzen nach dem CCB- und CCX-Modell sind für viele in der HCL-Community seit letztem Jahr ein heißes Thema. Als Notes- oder Domino-Kunde haben Sie vielleicht mit unerwartet hohen Benutzerzahlen und Lizenzgebühren zu kämpfen. Sie fragen sich vielleicht, wie diese neue Art der Lizenzierung funktioniert und welchen Nutzen sie Ihnen bringt. Vor allem wollen Sie sicherlich Ihr Budget einhalten und Kosten sparen, wo immer möglich. Das verstehen wir und wir möchten Ihnen dabei helfen!
Wir erklären Ihnen, wie Sie häufige Konfigurationsprobleme lösen können, die dazu führen können, dass mehr Benutzer gezählt werden als nötig, und wie Sie überflüssige oder ungenutzte Konten identifizieren und entfernen können, um Geld zu sparen. Es gibt auch einige Ansätze, die zu unnötigen Ausgaben führen können, z. B. wenn ein Personendokument anstelle eines Mail-Ins für geteilte Mailboxen verwendet wird. Wir zeigen Ihnen solche Fälle und deren Lösungen. Und natürlich erklären wir Ihnen das neue Lizenzmodell.
Nehmen Sie an diesem Webinar teil, bei dem HCL-Ambassador Marc Thomas und Gastredner Franz Walder Ihnen diese neue Welt näherbringen. Es vermittelt Ihnen die Tools und das Know-how, um den Überblick zu bewahren. Sie werden in der Lage sein, Ihre Kosten durch eine optimierte Domino-Konfiguration zu reduzieren und auch in Zukunft gering zu halten.
Diese Themen werden behandelt
- Reduzierung der Lizenzkosten durch Auffinden und Beheben von Fehlkonfigurationen und überflüssigen Konten
- Wie funktionieren CCB- und CCX-Lizenzen wirklich?
- Verstehen des DLAU-Tools und wie man es am besten nutzt
- Tipps für häufige Problembereiche, wie z. B. Team-Postfächer, Funktions-/Testbenutzer usw.
- Praxisbeispiele und Best Practices zum sofortigen Umsetzen
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Building Production Ready Search Pipelines with Spark and Milvus
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Main news related to the CCS TSI 2023 (2023/1695)
An English 🇬🇧 translation of a presentation to the speech I gave about the main changes brought by CCS TSI 2023 at the biggest Czech conference on Communications and signalling systems on Railways, which was held in Clarion Hotel Olomouc from 7th to 9th November 2023 (konferenceszt.cz). Attended by around 500 participants and 200 on-line followers.
The original Czech 🇨🇿 version of the presentation can be found here: https://www.slideshare.net/slideshow/hlavni-novinky-souvisejici-s-ccs-tsi-2023-2023-1695/269688092 .
The videorecording (in Czech) from the presentation is available here: https://youtu.be/WzjJWm4IyPk?si=SImb06tuXGb30BEH .
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As 06
- 1. ACCOUNTING STANDARD - 6 DEPRECIATION ACCOUNTING J.P., KAPUR & UBERAI