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The possible transition towards accrual accounting has been planned incremental and in phases spanning from 10–12 years. The central government and the majority of Indian state governments have accepted the idea of accrual accounting. The Committee on Accounting Standards for Local Bodies is reviewing IPSAS with a view to their adoption.
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]
Business and economy G20 summit Leaders from Germany, France and the United Kingdom hold an emergency meeting at the 2010 G-20 Seoul summit after panic selling of Irish debt spreads to Spain and Portugal. (Reuters) The leaders agree to avoid "competitive devaluation" and to develop "indicative guidelines" to tackle trade imbalances. (BBC) Brazil begins auctioning parts of the Amazon Rainforest ...
The U.S. Preventive Services Task Force is looking to update its recommendations for screening for cervical cancer. The task force has introduced a recommendation that women over the age of 30 ...
The U.S. Food and Drug Administration (FDA) now classifies eggs as a “healthy, nutrient-dense" food, according to a new proposed rule. Registered dietitians react to the change.
Stock indexes drifted to a mixed finish on Wall Street as some heavyweight technology and communications sector stocks offset gains elsewhere in the market. The S&P 500 slipped less than 0.1% ...
International relations Newly released cables from Australian intelligence show the intelligence assessment that charges of sodomy laid against Malaysian opposition leader Anwar Ibrahim are due to a "set up job" that he "walked into". Others refer to Malaysia as a "confused and dangerous" state, Thai politicians as corrupt and Crown Prince Maha Vajiralongkorn as "very erratic and easily ...
The European Union promises €500 million towards the 2010/11 budget of Kenya, the largest economy in East Africa. (Reuters Africa) Chinese Buddhist monks and archaeologists revealed what they believe to be a part of the skull of Siddartha Gautama, the founder of Buddhism, in east China's Jiangsu Province.