XBRL training is a big event happening in the corporate world – especially amongst the financial executives. Let us get somethings very clear. It is necessary to file your Annual Return in xbrl format. This is a company secretary’s responsibility, but the work will have to be done by an accountant. It is obvious that […]
The life insurance industry is in bad shape. Their past sins of over charging the customer are visiting them, and real hard. The Irda made some changes, the Income tax made some changes, they themselves made some mistakes, the customer unfortunately woke up, ….so in fine the industry is in trouble. So here is a […]
Those people who pretend they know how much they are earning, spending, investing or what is their net-worth either maintain detailed accounts or are lying! The mind is a poor accountant, and it creates facts in such a way that is palatable and is socially right sounding! For example if you have spent on some […]
Long ago I had done a posting about Asiad games. One of the friends of the government Hindustan Petroleum had ‘bought’ some guest houses in Delhi – one of hem was for Rs. 5 crores. When I asked them why are they not capitalising it, the accountant laughed and said the buildings will house the […]
There are a few companies even in the sensex which come with good results quite regularly. In fact the market likes such companies and gives it a high price earning ratio. So far this has been considered good behaviour and well rewarded. However the breaking of the Madoff scandal makes one feel uncomfortable about such […]
I recently got an offer on email. Somebody was offering me a news letter which promised to double my money every 2 years. Got me interested in the model. Here all I had to do was to put just Rs. 10 million into this scheme. In about 20 years time I would have about Rs. […]
Many of my friends, students, clients, relationship managers at banks, business development managers at life insurance companies concentrate on ‘r’ – or the return that they can get on the potential new investment. I really am amused. Let me tell you why. None, repeat none, except one brilliant uncle, knows their current income (unless it […]