The BRI is also a Chinese solution to global development issues, which aims to advance modernization in participating countries in tandem, make economic globalization more dynamic, inclusive and sustainable, and ensure that more of the fruits will be shared more equitably by people across the world....
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The Securities Exchange Board of India (SEBI)—the regulatory body for securities markets in India—has now designed the new BRSR to be interoperable with other internationally accepted reporting frameworks. Such as the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB)...
issued by the IFRS Foundation and the International Accounting Standards Board (IASB). Current harmonization revolves around the chronological adoption of past IFRS with an emphasis on closing the gap between Indonesia’s adoption status and the most up-to...
India’s national average salary in May 2022 amounts to the per month salary and indicates its living costs and standards. An average salary is the total of salaries divided by the number of respondents and is dependent both on the salaries and the numbers in a particular group. For exampl...
IFRS currently has complete profiles for 168 jurisdictions, including those in the European Union. The United States uses a different system, thegenerally accepted accounting principles(GAAP).1 The IFRS is issued by the International Accounting Standards Board (IASB). ...
July 1, 2017: GST officially launches across India, replacing multiple indirect taxes with a unified “One Nation, One Tax” system. Key Principles of Goods and Services Tax (GST) Now that you have an idea of what is goods and service tax, let’s discuss its principles: ...
What is SAC Code? SAC stands for Service Accounting Code, a unique six-digit code used to classify services under theGSTregime in India. SAC codes, issued byCBIC, help in identifying and categorizing services for tax calculation, with the first two digits (99) representing the service category...
In the past, processing payroll was a time-intensive process. Calculating hours worked, rates of pay, accounting for taxes and writing checks are just the basic tasks in order to accurately pay employees for their work. Fortunately, payroll software streamlines the process from start to finish,...
Although the majority of the world uses IFRS standards, it is not part of the financial world in the U.S. The SEC continues to review switching to the IFRS but has yet to do so.2 Special Considerations Some major differences exist between the two sets of accounting standards. These include...