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SOX – Sarbanes Oxley Act

SOX – Sarbanes Oxley Act

Sarbanes Oxley Act is also known as ‘Public Company Accounting Reform and Investor Protection Act’, ‘Corporate and Auditing Accountability and Responsibility Act’, SOX & SARBOX. The possible questions that strike our mind while studying any law are Why, Who, When, What and How. So let’s look into the affairs of the act and try to find out the answers which ...

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E-Filing Balance Sheets in XBRL Format with MCA

E-Filing Balance Sheets in XBRL Format with MCA

XBRL (Extensible Business Reporting Language) is another advanced reporting language of the XML family. XBRL ensures that the figures reported to government authorities and other organisation does not remain dormant piece of printed papers but these figures can be used in data analysis. ICAI took initiative in 2001 for implementation of XBRL as a first step towards Digital data reporting, ...

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MCA 21 – Services Available and Benefits

MCA 21 – Services Available and Benefits

With the opening of the economy towards globalisation, our corporate world requires world-class governance system. The essence of corporate world lies in promoting compliance of the law in letter and spirit, transparency, accountability and above all, fulfilling the fair expectations of all the stakeholders. The process of economic reform and liberalisation that started in 1991 has entered a crucial phase, ...

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Director Identification Number (DIN No.)

Director Identification Number (DIN No.)

The concept of a Director Identification Number (DIN) was introduced for the first time in India with the insertion of Section 266A to 266G of Companies Amendment Act, 2006. The DIN is a unique identifier for an existing or a future Director containing personal information about him. The need for introducing the unique identifier arose from The need to create ...

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IIM’s to give more preference to Females & Non-Engineers

IIM’s to give more preference to Females & Non-Engineers

The most common thing at most of India’s premier institutes is that most of the students are males. And when we talk about IIM’s – those males have another thing in common – that most of them belong to the engineering fraternity. It is now a known and a joked fact that most of the students at IIM’s are males ...

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Good News: Now all Students can view their Answer Sheet: Supreme Court

Good News: Now all Students can view their Answer Sheet: Supreme Court

In a landmark judgement which would be thanked by the Student Fraternity across India, Supreme Court on 9th August 2011 has announced that any Student aggrieved by the marks awarded to him/her in the Exams can now make an application and have a look at how the marks have been awarded. All Students irrespective of whether in School, College or ...

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Now get Admission into IIM directly after Class XII

Now get Admission into IIM directly after Class XII

IIM aspirants will not have to wait for a Graduation Degree anymore as IIM Indore has launched a Integrated 5 year Post Graduate Diploma in Management with the eligibility for the same being Class 12th. It will be a 3 year degree program followed by Masters Program and the students would have the option of dropping out after completing the ...

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What is a Limited Liability Partnership (LLP)?

What is a Limited Liability Partnership (LLP)?

A new trend that has been observed of-late is that more and more entreprenuers have started opting for Limited Liability Partnerships. But What is a Limited Liability Partnership? Before answering this question we’ll explain you reasons behind the emergence of LLP’s. Till a few years back there used to be only 2 forms of Organisations Limited Liability Organisations i.e. Companies ...

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What is Human Resource Accounting?

What is Human Resource Accounting?

Human Resource Accounting is the process of identifying and measuring data about Human Resources and communicating this information to the interested parties. It is an attempt to identify and report the Investments made in Human Resources of an organisation that are currently not accounted for in the Conventional Accounting Practices. Thus, Human Resource Accounting is a term applied by the ...

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