The new law of Companies Act, 2013 has introduced major changes in the provisions related to Accounting and Financial Reporting. Some of the key changes related to Books of Accounts are as follows:   Broad Areas  The Companies Act, 2013 The Companies Act, 1956 Depreciation Schedule II –          It deals with depreciation of tangible assets as well...Continue Reading

  Comparison to be provided The new law of Companies Act, 2013 has introduced certain changes to declaration and payment of dividend.  Some of the key features related to Dividend are as follows:   Meaning of Dividend: Dividend has origin from Latin word “dividendum”, which means a thing to be divided. ‘Dividend’ is a payment...Continue Reading

The new law of Companies Act, 2013 has introduced different type of companies. Some of the key features of these entities are as follows: ONE PERSON COMPANY (OPC)- Section 3 read with Rule 3 to 18 of Companies Incorporation Rules, 2014 Defined under Section 2(62) of the Companies Act, 2013 Only a natural person who...Continue Reading

As part of our weekly update on the changes related to new Companies Act, 2013, today we update you on changes affecting Auditors of all type of companies. Some of the important provisions related to their Appointment, Resignation, Removal are as follows:     Appointment of first and subsequent Auditors   Applicability: Every Company Public or Private...Continue Reading