The difference between financial accounting and managerial accounting is as clear as the name suggests. Financial accounting is concerned with maintaining business transactions and documenting data so that users can make valuable financial decisions. Management accounting, also known as managerial accounting, is a relatively new branch of accounting that deals with managerial issues. It is…

The Company Law Committee’s (2022) report suggests a number of amendments to the Companies Act, 2013, in order to recognise new ideas, speed up corporate procedures, strengthen compliance requirements, and eliminate ambiguities in current laws. The Report also contains recommendations for incorporating producer organisations under the Limited Liability Partnership Act, 2008. Table of Content Key Abstract…

Stamp duty is a tax levied by the state government on the sale of real estate or documents. It varies from state to state. The amount of stamp duty to be charged depends on the value of the instrument or property on which it is levied. Earlier, stamp duty was to be charged only on…

There are 2 types of shares in any company firstly Equity share or Common Stock and secondly Preference shares or Preferred stock. Shareholders are considered to be the real owners of the Company as they have voting rights in the company while preferred shareholders do not have the right to vote in all decisions under…

Starting in July 2020, the Treasury introduced a new MSME Registration system and categories for Small and Medium Enterprises, Known as Udyam Registration; it allows new and existing companies to register on the MSME portal. This article emphasizes how to get an Udyam registration certificate. Table of Content Brief Overview Importance of Udyam Registration Certificate…

In this 21st century dynamism, the social responsibility of business is a developing sector in which it is gaining international fame and India is no different. However, it is not a new concept in India but has developed over time and is now being amended with the passing of the Companies Act 2013 so that…

Nidhi is a company recognized under Section 406 of the Companies Act 2013 as amended by the Nidhi Rules 2014. Their main functions are to lend and lend money between their members and they come under the non-banking Indian financial sector. It is a society founded for the express purpose of cultivating among its members…

Minutes are the official record of the proceedings of a meeting of the Board of Directors or the Annual General Meeting or any other meeting and the proceedings at that meeting. All companies incorporated in India are required to keep minutes of all board and committee meetings in a minute book. In this article, we…

India has emerged as a major exporter in the last few decades, driving India’s economy to a new level. The number of products exported from India has grown significantly and the market is bigger than before. Many foreign markets rely heavily on India to import certain goods into their country. This article focuses on the…

The Reserve Bank of India (RBI) reports that foreign Indians sent US $ 24.6 billion to India between 2005 and 2006. In this way, India continues to maintain its position as the largest recipient of international remittances. The World Bank estimates in 2005 that India leads with US $ 23.5 billion, followed by China and…

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