Know Your Rights!!

IAS 39 mandates some financial assets and liabilities to be subsequently measured at ‘amortized cost’.  This measurement concept is a management theory put in accounting practice. It means that the contractual interest rate each period should be adjusted to amortize the transaction costs over the expected life of the financial instrument. The amortization is calculated on an effective interest rate (EIR) / yield-to-maturity (YTM) basis. The EIR is the rate that exactly discounts the stream of principal and interest cash flows excluding any impact of credit losses, to the initial net proceeds. It is important to note that EIR method does not take into account any future credit impairments anticipated on that instrument. The carrying amount of the financial instrument subsequently measured at amortized cost is computed as: Transaction costs are an integral part of the amortized cost calculation. They are defined as costs that are directly attributable to the acquisit...

The ICAI Entrepreneurship Cell, will foster entrepreneurship for all CAs who avoid incubating the latent entrepreneurial spirit.  The ICAI E-Cell will show Chartered Accountants of India the doors of opportunity but a dedicated team will also help walk through by providing mentoring, financial, networking with other entrepreneurs and knowledge inputs. The ICAI E-Cell will comprise of CA members, regulators, mentors and service providers from the industry who span a variety of functional areas, sectoral domains and are passionately committed to help aspiring entrepreneurs succeed commercially In all I wish to act as a “Founder & Chief Catalyst” to create “ecrats” (entrecrats) out of the present day “acrats” (accountcrats).