NEWS & BLOGS EXCLUCIVELY FOR INFORMATION TO ENGINEERS & VALUERS COMMUNITY
IMPORTANCE OF UNDERSTANDING SALE OF GOODS AND AGREEMENTS TO SELL The Importance of Understanding Sale of Goods and Agreements to Sell in India In India, the Sale of Goods Act, 1930, governs the contracts involving the sale of goods. This legislation lays down crucial principles and guidelines that both buyers and sellers must adhere to. […]
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TRANSFER OF TITLE BY NON-OWNER: RISKS AND LEGAL CONSEQUENCES In India, the transfer of title by a non-owner is a contentious issue that can lead to various legal complications and consequences. Whether it’s through fraud, misrepresentation, or mistake, such transfers pose significant risks to both parties involved. Here are some key points to consider: 1.
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MULTIPLE-CHOICE QUESTIONS WITH ANSWERS RELATED TO TRADING ACCOUNT; PROFIT AND LOSS ACCOUNT; INCOME AND EXPENDITURE ACCOUNT What financial statement records the buying and selling activities of a business entity? a) Trading account b) Profit and loss account c) Income and expenditure account d) Balance sheet Answer: a) Trading account Which account summarizes the revenues, expenses,
TECHNIQUES FOR BUDGETARY CONTROL IN ORGANIZATIONAL MANAGEMENT Techniques for Budgetary Control in Organizational Management Budgetary control is a vital aspect of organizational management, especially in India’s dynamic business landscape. By employing effective techniques, businesses can monitor, evaluate, and control their financial performance. Here are some key techniques for budgetary control in Indian organizations: Incremental Budgeting:
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ADVANTAGES AND DISADVANTAGES OF BUDGETING IN BUSINESS Advantages and Disadvantages of Budgeting in Business Budgeting is a crucial aspect of financial planning for businesses, serving as a roadmap for allocating resources and achieving financial goals. However, like any tool, it comes with both advantages and disadvantages. In the context of India, where businesses operate in
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STRATEGIES FOR CREATING AN EFFECTIVE BUDGET PLAN Strategies for Creating an Effective Budget Plan in India Creating a budget plan is crucial for individuals, families, and businesses to manage their finances effectively. In India, where economic conditions and expenses vary widely, devising a solid budget plan becomes even more critical. Here are key strategies to
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THE IMPORTANCE OF BUDGETING FOR PERSONAL FINANCE MANAGEMENT Budgeting plays a crucial role in managing personal finances effectively. In India, where financial planning is becoming increasingly important, budgeting serves as a cornerstone for individuals to achieve their financial goals and secure their future. Here are the key points highlighting the significance of budgeting for personal
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VALIDITY OF VALUATION REPORTS: IMPORTANT DECISION BY DELHI HIGH COURT NEW DELHI (BUREAU REPORTER): The division Bench of the Delhi High Court in Pr.Commissioner of Wealth Tax vs. Raghu Hari Dalmia held that a valuation report made by a registered valuer once adopted shall be in effect for four assessment years unless an event has
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MULTIPLE-CHOICE QUESTIONS WITH ANSWERS RELATED TO FIXED ASSETS AND DEPRECIATION Which of the following is considered a fixed asset? a) Inventory b) Land c) Accounts receivable d) Marketable securities Answer: b) Land Depreciation is the process of: a) Increasing the value of assets over time b) Reducing the value of liabilities over time c) Allocating
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EVALUATING THE ECONOMIC BENEFITS OF ASSET REPLACEMENT VERSUS REPAIR In India, as in many developing nations, infrastructure plays a pivotal role in economic growth and societal development. However, the constant wear and tear of infrastructure assets necessitates decision-making regarding whether to repair or replace aging infrastructure. This article delves into the economic implications of this
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ROLE OF FIXED ASSET ACCOUNTING IN FINANCIAL STATEMENT ANALYSIS Fixed assets form a substantial portion of a company’s balance sheet and play a crucial role in financial statement analysis. In India, where industries are rapidly evolving and infrastructural development is ongoing, understanding the nuances of fixed asset accounting is paramount for accurate financial analysis. Here’s
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REGULATORY COMPLIANCE AND REPORTING REQUIREMENTS FOR DEPRECIATION Regulatory Compliance and Reporting Requirements for Depreciation in India Depreciation is a critical aspect of financial reporting for businesses in India, governed by various regulatory frameworks. Understanding and complying with these regulations is essential for accurate financial reporting and maintaining transparency. Below are the key points regarding regulatory
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