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Payroll processing and calculation

Payroll processing consist of calculation of payments to employees for their work in the company – whether it is based on time or productivity, calculation of benefits, and statutory deductions. Payroll needs to be processed by each company periodically. It may be processed weekly, bimonthly, monthly or daily .
Payroll calculation is a complicated process that varies from company to company. Each company may have its own payroll structure consisting of various payroll components that may be unique to that company only. In addition, many location specific laws such as labor welfare act, Payment of salary and wages act, and … Read more

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Need of business valuation

There are many reasons to have an up-to-date business valuation. You may need debt or equity financing for expansion or due to cash flow problems. Potential financiers or investors will want to see that the business has sufficient worth. You may be adding shareholders (or one or more shareholders may wish a buyout). In this case, share value will need to be determined.
How much your business is worth depends on many factors, from the current state of the economy through your business’s balance sheet. If for example, similar businesses in your area have recently sold, the value of … Read more

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Financial statements analysis

Financial statements represent a formal record of the financial activities of an entity. These are written reports that quantify the financial strength, performance and liquidity of a company. Financial statements reflect the financial effects of business transactions and events on the company.

Statement of financial position, also known as the Balance Sheet, presents the financial position of an entity at a given date. It is comprised of the following

  • Assets: Something a business owns or controls (e.g. cash, inventory, plant and machinery, etc)
  • Liabilities: Something a business owes to someone (e.g. creditors, bank loans, etc)
  • Equity:
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Financial Planning process

Financial Planning is the process of estimating the capital required and determining it’s competition. It is the process of framing financial policies in relation to procurement, investment and administration of funds of a company.

Capital requirements  will depend upon factors like cost of current and fixed assets, promotional expenses and long- range planning. Capital requirements have to be looked with both aspects: short- term and long- term requirements. The capital structure is the composition of capital, i.e., the relative kind and proportion of capital required in the business. This includes decisions of debt- equity ratio- both short-term and long- term. … Read more

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How to Register a Trademark in India

When an outsider looks for startup business, the first thing they notice is the trademark. A trademark is  the identity of a business lies. It is the name and symbol under which a business undertakes its trade and commerce, which represents the company.

In India, trademarks are regulated by the Trade Marks Act of 1999. The Act aims to provide registration and better protection towards trademarks while preventing the use of fraudulent marks.

How to Choose a “Good” Trademark?

  • The mark(s) should be easy to remember.
  • It should be short and easy to spell and write.
  • It may
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Powerful Ways to Grow Your Business

Running your own business is often hard work, specially till you manage to build momentum and getting things moving smooth.
If you’re ambitious for your business, you won’t want to hang about. So here are nine growth strategies to help you get the most from your time and effort as a business owner or as an entrepreneur.

Before you give in to frustration, here is some advice that can help you to grow your small business successfully.

1. Patience Is Necessary

You’ll need to be patient. Contrary to what you see and hear, there is no such thing as a … Read more

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Business Opportunities In INDIA

India has emerged as the number one FDI destination in the world during the first half of 2015.With FDI capital inflows of US$30.8b, India has outpaced all other economies, moving up to the premier position from being in the fifth spot during the corresponding period of the previous year.
In FY15, India’s growth was 7.3 per cent, which would increase to 7.5 percent each in the next two years of 2016-17 and 2017-18.

Why invest in India?
India is a large and rapidly growing consumer market constituting up to 300 million people for branded consumer goods.

  • This market is estimated
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Why One Should Do Business In India

Reserve Bank of India recently painted quite a gloomy picture for the Indian economy and rating house Moody’s too pointed out how corruption and scams are hampering the country’s business environment.

According to research firm Dun and Bradstreet, India will become a $5.6 trillion economy by 2020. The firm has also predicted a three-fold jump in the country’s gross domestic product, from $1.7 trillion last fiscal, on the back of rapid investment and growing consumer expenditure.

1. India’s GDP is on a roll
India’s gross domestic product is reaching new heights every year. India is now the 10th biggest economy … Read more

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Developing Asia – Accelerate Growth Through Partnership

Growth Outlook
Developing Asia is facing considerable headwinds. Delayed recovery in major industrial economies and moderating prospects for the large economies of the People’s Republic of China and India weigh on region’s project growth forecasts. With the european economy meltdown, asian economy continues to grow.

Emerging : Asia leads global growth
A key factor behind Asia’s rising influence is the size of its economy. In 1990, the top five economies were not among Asia. However, now the top three economies are Japan, China and India.

Asia’s share in world GDP in real US$ purchasing power parity (PPP) was 23.2 percent. … Read more

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Procedure, method and list of documents for deploying a Project workplace in Asian countries.

RBI has liberalized and simplified the the procedures for institution of Project Offices in Asian countries. General permission has been granted to foreign entities for fitting Project Office(s) in Asian country. This permission is subject to the adherence to the provisions of Regulation four, and Regulation five of the FEMA Regulation No. twenty two that bury alia includes the subsequent conditions to be glad.

(i) It’s secured from associate Indian company a contract to execute a project in India; and

(ii) The project is funded by inward remittal from abroad; or

(iii) The project is funded by a bilateral or … Read more

Director Responsibility Statement

To promote better disclosures and transparency, the 2013 Act, requires the company’s Annual Report to include a Director’s Responsibility Statement stating the following:

Applicable accounting standards had been followed in the preparation of the annual accounts
The directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company
Proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company … Read more

Clause 49: Executive Remuneration

The 2013 Act and Revised Clause 49 mandate the formation of a Nomination & Remuneration Committee comprising of at least three directors, all of whom shall be non-executive directors and at least half shall be independent. The Nomination and Remuneration Committee is to ensure that the level and composition of remuneration is reasonable and sufficient; the relationship of remuneration to performance is clear and meets appropriate performance benchmarks; and the remuneration to directors, key managerial personnel and senior management involves a balance between fixed and incentive pay reflecting short and long-term performance objectives appropriate to the working of the company … Read more

Clause 49: Whistle Blowing Mechanism

The 2013 Act and revised Clause 49 mandate establishing Whistleblower mechanism to let employees and directors blow whistles on financial and non-financial wrong doings and also that such mechanism should provide protection to the whistle blower from victimization and provide direct access to the Chairman of the Audit Committee in exceptional cases.

If you have any query regarding this Click Here.Read more

Role of Institutional Investors

Fast growing countries like India have attracted large shareholding by international investors and large Indian financial institutions with global ambitions.
So, if a company wants institutional investor participation, it will have to convincingly raise the quality of corporate governance practices. Indian companies thus need to adopt the best practices such as the OECD Corporate Governance Principles (revised in 2004) that serve as a global benchmark. In countries like India where corporate ownership still continues to be highly concentrated, it is important that all shareholders including domestic and foreign institutional investors are treated equitably.

If you have any query regarding this Read more

Clause 49: Stakeholders Relationship Committee

  • As one of its mandatory recommendations, the Kumar Mangalam Birla Committee propounded the need to form a board committee under the chairmanship of a non-executive director to specifically look into the redressing of shareholder complaints like transfer of shares, non-receipt of balance sheet, non-receipt of declared dividends etc.
    The Committee believed that the formation of shareholders’ grievance committee would help focus the attention of the company on shareholders’ grievances and sensitize the management to redress their grievances. The 2013 Act as well as the revised Clause 49 now mandate the formation of such a committee with broader remit to cover

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Steps Need To Follow For Processing Closing Reports In Quickbooks

1) Open Closing reports in PDF.
2) Go to website: qbo.intuit.com
3) Enter User ID and Password to Sign In.

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4) Following screen will display :-

quick2Select the Company on which you are working.

 

5) Before getting started with the processing of closing reports, you have to setup the Customer
and Vendor list. For that go to the customer list on the panel given on the left side of the
screen:-

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6) Then Click on New Customer :-

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7) Fill the following mandate fields and Click Save button.

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8) For creating … Read more

Categories Of Directors Series-31

RESIDENT DIRECTOR:

As per Section 149 sub section 3 of Companies Act 2013, Board of Directors of a company, must have at least one resident director i.e. (A person who has lived at least 182 days in India in the previous calendar year)

As per General Circular No. 25/2014 The residence requirement would be reckoned from the date of commencement of section 149 of the Act i.e. 1st April, 2014, The first previous calendar year, for compliance with these provisions would, therefore, be Calendar year 2014. The period to be taken into account for compliance with these provisions will be … Read more