An audit trail (also called audit log) is a security-relevant chronological record, set of records, and/or destination and source of records that provide documentary evidence of the sequence of activities that have affected at any time a specific operation, procedure, event, or device. Audit records typically result from activities such as financial transactions, scientific research and health car......

Shareholders' Agreements are quite common in business. In India shareholders ' agreements have gained popularity with bloom in newer forms of businesses. There are multiple situations where such agreements are entered into- family companies, Joint Venture companies, venture capital investments, private equity investments, strategic alliances and so on. It is a contractual arrangement between the s......

It is important to understand the difference between sales and marketing because you need to integrate both functions in your organization. Understanding the thin line between them helps you make them work in tandem to increase the revenue of your organization. While preparing an organization's budget, you need to make a proper allocation for each business function. A good understanding of differe......

The goods and services tax (GST) is a value-added tax (VAT) levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services. In this article, we will discuss the introduction of GST in India and its aspects in the respective areas. Before we starting the main aspect, let's talk abo......

XBRL (extensible Business Reporting Language) is a language for the communication of financial and business data electronically used for business reporting around the world. XBRL means extensible Business Reporting Language. The XBRL filing provides benefits in analyzing, preparing, and communicating business information. The Ministry of Corporate Affairs (MCA) introduced XBRL filing of financia......

Capital budgeting is the process a business undertakes to evaluate potential major projects or investments. Construction of a new plant or a big investment in an outside venture are examples of projects that would require capital budgeting before they are approved or rejected. As part of capital budgeting, a company might assess a prospective project's lifetime cash inflows and outflows to determ......

Resolutions are generally passed in the meetings of the Company in order to arrive at a particular decision for any items of the businesses. It may so happen that at times there is some urgency for passing of resolutions, but it may not be possible for the directors to gather for the meeting or it may not be possible to wait till the approval of the item until the next meeting. In such cases compa......

According to the Section 2(31) of the Act read with Companies (Acceptance of Deposits) Rules, 2014, ‘deposit’ includes any receipt of money by way of deposit or loan or in any other form by a company, but does not include–– 1. Any amount received from the Central Government or a State Government, or any amount received from any other source whose repayment is guaranteed by......

In regard to developing a business many factors have played a very important role and to choose the right form of a business is also a very crucial activity because you have to take care of all ups and downs and have to look after all the factors so that your business may live long in the market. A temporary importance can't make a business rise in future, one has to focus on all the available fac......

The period during which investments are locked in is called lock-in period or lockup period. Investors cannot sell their investments during this period of time. Lock-in period is common to hedge funds, IPOs of private equity, startups and few mutual funds. In mutual funds, ELSS funds (tax saver funds) are the only open ended funds with a lock in period. In this article, we will read about, the me......

EARLIER, Section 90 of the Companies Act, 2013 provides that every individual acting alone or together or through one or more persons or trust, including a trust and persons resident outside India, holds beneficial interests of not less than twenty five percent or such other percentage as may be prescribed, in shares of a company or the right to exercise or the actual exercising of significant in......

A meeting of a company is generally defined as a gathering or assembly or getting together of a number of persons for transacting any lawful business. There must be at least two persons to constitute a valid meeting, therefore one shareholder cannot constitute a valid quorum alone even if he holds proxies for other shareholders. However in certain exceptional cases, one person may constitute a mee......

An initial public offering (IPO) refers to the process of offering shares of a private corporation to the public in a new stock issuance for the first time. An IPO allows a company to raise equity capital from public investors. Before an  IPO, a company is considered private. As a pre - IPO private company, the business has grown with a relatively small number of shareholders including early ......

Law is a set of rules that are created and are enforceable by social or governmental institutions to regulate human behavior in a general sense in relation to his social life and business life. Law is a command of the sovereign or an independent authority which serves its nature on the public and imposes a duty upon them to follow the said command which is further backed with sanction in case of v......

Section 177 of Companies Act, 2013 refers to an audit committee as a committee of an organization’s board of directors which is responsible for oversight of the financial reporting process, selection of the independent auditor, and receipt of audit results both internal and external. Every listed public company, or every public company having paid-up capital of Rs. 10 crore or more, or havi......

Share is a share in the share capital of the company which is basically issued by a company to generate funds in the normal course and in return, the holders of shares (who are the investors) in the company gains a share of ownership of the company. The term share capital refers to the amount which a company takes from the general public and terms those persons as “shareholders” of the......

Cryptocurrencies and demand has a positive relation as demand is the main reason diving the price of cryptocurrencies. Since its launch, cryptocurrencies has been characterized by its volatility. Over the many years, it has survived multiple down falls and crashes but then start to grow and reaches new heights. Cryptocurrencies are also known as digital currency, it was introduced back 1980s, at ......

The term share capital usually refers to the amount of money used to launch a firm, the money raised by the company by issuing its shares to the general public is referred as share capital. It’s a long term finance of the company invested by the shareholders and in return for their investment, they gain a share of the ownership of the company. Share capital is of two types, one is equity sha......

When we talked about taxation effect in our economy, an image is automatically create in our mind that Government is charges tax from general public as it is the most important part of the revenue of any state. In this article we will discuss the nature of tax and its effect on the economy. Tax is a compulsory contribution to public authorities to meet the expenses of the Government which have be......

As per AS 9, revenue recognition is the gross inflow of cash, receivables or other considerations arising in the business (in the course of ordinary activities). This standard was issued by ICAI in the year 1985, it was introduced for only level 1 enterprises (entities whose turnover for the immediately preceding accounting year exceeds 50 crore) but was made mandatory for all the other enterprise......