Author Archives: Rohitashva

Some Important Aspect About Supply Chain: Switch Bill of Lading and their types

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VAT(Identification of Designated Zones)

VAT treatment of Free Zones VAT is a general consumption tax imposed on most supplies of goods and services in the UAE. By default, it is chargeable on supplies of goods and services throughout the territorial area of the UAE. … Continue reading

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Easiest way to learn Income Statement & Balance Sheet

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SFAS 78 With Summary

SUMMARY OF STATEMENT NO. 78 CLASSIFICATION OF OBLIGATIONS THAT ARE CALLABLE BY THE CREDITOR—AN AMENDMENT OF ARB NO. 43, CHAPTER 3A (ISSUED 12/83) Summary This Statement amends ARB No. 43, Chapter 3A, “Current Assets and Current Liabilities,” to specify the … Continue reading

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How does a magnetic stripe on the back of a credit card work?

The ­stripe on the back of a credit card is a magnetic stripe, often called a mags-tripe. The mags-tripe is made up of tiny iron-based magnetic particles in a plastic-like film. Each particle is really a very tiny bar magnet about 20 … Continue reading

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Transfer Pricing

What is Transfer Pricing? Transfer pricing is the setting of the price for goods and services sold between controlled (or related) legal entities within an enterprise. For example, if a subsidiary company sells goods to a parent company, the cost of those goods … Continue reading

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Brief Overview of IFRS & How it’s different from US GAAP

“What’s the fuss over IFRS?” providing a brief overview of the transition to adoption of IFRS and convergence with US GAAP. While we realize that IFRS will become a future reality, the question lingered regarding the differences between the two … Continue reading

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IFRS Standard & Interpretation Updates

Financial statement considerations in adopting new and revised pronouncements Where new and revised pronouncements are applied for the first time, there can be consequential impacts on annual financial statements, including: Updates to accounting policies. The terminology and substance of disclosed … Continue reading

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Learn and understand how to easily perform a break even analysis

The break-even point (BEP) in economics, business—and specifically cost accounting—is the point at which total cost and total revenue are equal. There is no net loss or gain, and one has “broken even,” though opportunity costs have been paid and … Continue reading

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Introduction to the Accounting Equation

From the large, multi-national corporation down to the corner beauty salon, every business transaction will have an effect on a company’s financial position. The financial position of a company is measured by the following items: Assets (what it owns) Liabilities … Continue reading

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