Page 3 - Accounting
Govt releases Natural Resource Accounting to track mineral, energy deposits
The asset accounts would help identify alternate economic and energy-based resources, and aid in developing an ecosystem for containing illegal mining
 "Govt releases Natural Resource Accounting to track mineral, energy deposits")
Compliance, risk management, audit weaknesses of banks, says RBI's MK Jain
RBI's MK Jain observed that the compliance setup was not resourced adequately with required number and quality of staff in many cases.
 "Compliance, risk management, audit weaknesses of banks, says RBI's MK Jain")
NFRA asks ICAI to reconsider structure of its accounting standards proposal
Standards are for firms that are not required to follow Indian Accounting Standards. Most of these would be private, with very small net worth or turnover or indebtedness, according to NFRA
 "NFRA asks ICAI to reconsider structure of its accounting standards proposal")
Twitter appointed officers in compliance with new IT Rules: Centre
The Centre has informed the Delhi High Court that Twitter has appointed Chief Compliance Officer (CCO), Resident Grievance Officer (RGO), and Nodal Contact Person in compliance with the new IT Rules.
 "Twitter appointed officers in compliance with new IT Rules: Centre")
Govt notifies accounting standards for SMEs under Companies Act, 2013
The government has notified the accounting standards for small and medium companies that revise the turnover and borrowing limits as well as help in making disclosure requirements less onerous.
 "Govt notifies accounting standards for SMEs under Companies Act, 2013")
Govt defers mandatory use of transparent accounting software use by year
This comes as relief to businesses across the spectrum
 "Govt defers mandatory use of transparent accounting software use by year")
ICAI to set standards for forensic investigations and accounting
Will issue draft guidelines by December to invite public comments and also seek views of MCA, Sebi, RBI, CAG and various investigation agencies
 "ICAI to set standards for forensic investigations and accounting")
This start-up is making accounting easier, helping small traders go digital
The mobile version is free for simple accountings, but premium subscribers pay according to tariff plans
After nearly 8 decades, RBI to change its accounting year to April-March
The RBI, which currently follows July-June calendar, usually transfers dividend after closing its accounts in August
 "After nearly 8 decades, RBI to change its accounting year to April-March")
New accounting norms likely to hit finances of retail companies
IndAS 116 rules will lead to rise in notional assets & liabilities, say companies
 "New accounting norms likely to hit finances of retail companies")
Aviation to telecom: New accounting norms may alter debt math of companies
Companies will have to treat their obligation to meet long-standing operational expenses as debt liabilities.
 "Aviation to telecom: New accounting norms may alter debt math of companies")
