CA CMA Syam sundar

 The Budget Process You always wanted to master the budgeting process in Finance? Here is what you need to know: The different steps of the budget: 1/ Set expectations with management 2/ Plan Sales 3/ Operational Plan 4/ Plan Resources 5/ Compute Standard costs 6/ Plan Overhead 7/ Transform budget into Financial Statements 1/ Set expectations: Understand expectations from management about - Growth - Implementation of strategy - Profitability - Lessons learned from the past 2/ Plan sales - Choose the most appropriate method - Plan with sufficient details to be able to run analysis - Pay attention to factors impacting changes - Ensure accuracy of phasing - Prepare what if analysis with impact on resources and profitability 3/ Operational plan - Plan production and delivery - Plan workload 4. Plan ressources - Plan direct headcounts & capacity - Plan material needs - Plan investments 5. Compute standard costs Compute: - Direct labor: hours/unit and hourly rate - Material: quantity...

  How Do You Protect Your Cash Flow?  Here are 10 Cash Flow Mistakes to Avoid. 1️⃣ Not having a rolling cash flow forecast  Forecasted cash flows show your company’s projected operating, investing and financing cash flows for the next fiscal period (and beyond for rolling cash flows), based on year-to-date results, fiscal year plans, and the ongoing effects of current strategic initiatives. 2️⃣ Paying suppliers early  With the exception of a few strategic reasons, making early payments to suppliers outside of contractual terms has little benefit for your company while putting unnecessary pressure on cash flows. 3️⃣ Not securing access to a short term working capital line of credit  Short term lines of credit for the financing of working capital assets are critical for growing companies or those with seasonal or irregular cash flow patterns. 4️⃣ Not negotiating sufficient access to short term working capital financing  A line of credit with an insufficient l...

Proposed changes in Direct Tax by ICAI (The Institute of Chartered Accountans of India) to Government (Pre-Budget Memorandum): Few Important Changes: 1) 80C Limit: Increase to Rs.3 Lacs from Rs.1.5 Lacs 2) Standard Deduction for a salaried person: Increase to Rs. 1 Lacs instead of Rs.50k 3) PPF: Raising the annual limit for the contribution to Public Provident Fund (PPF) from the current Rs 1.5 lakh to Rs 3 lakh 4) 80D : Apart from the deduction for health insurance premium, a separate deduction for medical expenses incurred should be made available 5) Tax Audit: Reduce Tax Audit 44AB limit from Rs.10 Crore 6) 44ADA Professional: Increase 44ADA limit to ₹1 CR with estimated income 30% instead of 50%. 7) Insurance Deduction (Other than LIC): ICAI also asked for a separate deduction for payments relating to travel insurance, home insurance, or personal accident insurance policy 8) Dividend Taxation: keep at 20% (plus applicable surcharge & cess) 9) Sec 80G : Donation ...

  The Employees’ Deposit Linked Insurance Scheme(EDLI) is an insurance cover provided by the Employees’ Provident Fund Organization (EPFO).   A nominee or legal heir of an active member of EPFO gets a lump sum payment of up to Rs. 7 Lakhs in case of death of the member during the service period. All organizations covered under Employees’ Provident Fund (EPF) and Miscellaneous Provisions Act, 1952 get enrolled for EDLI automatically.   This scheme works in combination with EPF and EPS.     EDLI ELIGIBILITY Beneficiaries of employees who are working in organizations enrolled under the EPF scheme are eligible to get the EDLI scheme benefits.     They get covered even if they shift jobs and work for another employer covered by the EDLI scheme before they complete one year of service.     EDLI CALCULATION:   For instance, suppose the average salary for the preceding 12 months, if the employee is at wage ceiling...

  https://m.rbi.org.in//Scripts/BS_PressReleaseDisplay.aspx?prid=54773 CENTRAL BANK DIGITAL CURRENCY (CBDC) RBI has started the pilot  #project for issuance and settlement of #digital   #currency (CBDC) in a closed group and environment. let's understand what it is and how it is different from UPI digital payments. For doing UPI transactions one needs a bank account and UPI ID. The transaction is done through a bank account in digital form. In case of CBDC or eR the transaction between two parties will not involve their bank account. CBDC is simply digital form of physical or paper currency. It will be issued in the same denomination as that of paper currency I.e 5,10,20 etc. It will be a legal tender having sovereign backing and will bear RBI governor signature. It can be kept in a mobile phone wallet which resembles your pocket wallet. It will not leave audit trail of transactions between two parties except at RBI. eR in Wallets will not earn interest as it is in y...

  ITAT DELHI M/S. NATMA SECURITIES LIMITED [NOW M/S. NATMA SECURITIES PVT. LTD.] VERSUS ACIT, CIRCLE : 76 (1) NEW DELHI.-No.- I.T.A. No. 6104/DEL/2019 Dated.- November 30, 2022                                                                                                                            FACTS:-The assessee Company is a non-banking Finance Company, engaged in acc...