The US subsidiary of Glenmark pharmaceuticals Ltd. (Glenmark) has signed a deal with Paul Capital Partners’ Royalty fund, worth $27-million to finance the development of its dermatological portfolio for the US market. The legal advisors of Glenmark in the deal were, DSP Merrill Lynch & Greenberg Traurig LLP. Glen Saldanha, the managing director & CEO [...]

[An informative article on Sales Audit by by Paul Lemberg specially for forum4ca. Business Coach and Strategist, Paul Lemberg is the President of Quantum Growth Coaching, the world's only fully systemized business coaching program designed to create More Profits and More Lifeâ„¢ for entrepreneurs.] Last week, one of my clients–we’ll call him Rick–had a demo [...]

INDIAN ACCOUNTING STANDARDS COMPLIANCE CHECKLIST Objective of the checklist The checklist is designed to verify compliance with Accounting Standards issued by the Institute of Chartered Accountants of India (ICAI) and can be used by accountants, auditors, audit committee members, etc. When a more thorough understanding of a Standard is needed, reference should be made to [...]

Prior to budget, it pained to see that the credit of MAT (Minimum Alternate Tax) could not be taken. But the situation has imporved post budget as our FM Mr P. Chidambaram has been little kind to the corporates in this regard. The MAT credit shall be available in respect of MAT paid under Section [...]

2006 Revised Guidance Note on Audit of Banks New guidance The Council of the ICAI, at its last, 258th meeting held on March 8, 2006 finalised the 2006 edition of the Revised Guidance Note on Audit of Banks. The 2006 edition of the guidance note enshrines the impact of the various circulars of the RBI [...]

I could hear many of complaining us chartered accountant freinds complaining about the very low audit fees for the audit of a cooperative bank. The audit fees for a co-operative bank was as low as Rs 10000 irrespective of the size of the bank. But now many of us have a reason to rejoice as [...]

The Financial Accounting Standards Board has issued a proposal providing companies with the option to report financial assets and liabilities at fair value. The board said that the change is aimed at simplifying accounting, as well as reducing the earnings volatility caused by differences in existing accounting rules. The new standard would allow companies to [...]

At present we have different types of accounting satndards and audit practices prevelant all around the globe. Though they are more or less similar but there are many differences too. They have different disclosure requirements and different treament in some cases. This leads to maintaining different sets of books and financial statements for many Multinational [...]

Any one seeking help or informations on preperation of American Financial Statements, Please visit this site here. It has useful informations as well as various downloads which can be used for guidence as a basis of preparations… Other useful site you can visit if you are looking for US Government Accounting, Please visit International Federation [...]

Dear Professional Colleagues You all must now be aware that the Ministry of Finance has decided to allow Board of Directors of Public Sector Banks to directly appoint their statutory central auditors and branch auditors. Under the new system, banks would directly source names of the auditors from the panel of CAG for statutory central [...]