Deepfake videos of RBI Governor: RBI warns public to be careful
The Reserve Bank of India on Tuesday placed on its website that the deepfake videos of the Governor are being circulated on social media that claim the launch of or support for some investment schemes by the RBI. “These videos attempt to advise people to invest their money in such schemes, through the use of…
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What are various methods of depreciation, advantages, disadvantages and revaluation of assets?
(This article explains various methods of Depreciation such as the Straight Line Method, Diminishing Balance or Written Down Value (WDV), Unit of production method, MACRS method, group depreciation method, etc. Advantages and Disadvantages of Straight Line Method, Advantages and Disadvantages of Written Down Value Method, Units of Production Method, Sum of the Years’ Digits Method,…
Read article RBI carries out multiple amendments to KYC Norms effective from November 6.
RBI on a review amended KYC Master Direction on November 06, 2024. “The amendment has been necessitated to (a) align the instructions with the recent amendments carried out in the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 vide Gazette Notification dated July 19, 2024, (b) incorporate instructions in terms of the corrigendum dated…
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Bank Holidays for 2025: Telangana State
Following are Bank Holidays for the year 2025 in the Telangana State declared under the provisions of section 25 of NI Act 1884 Sr.No. Date Day Occasion/Festival 1 14.01.2025 Tuesday MAKARA SANKRANTI/PONGAL 2* 26.01.2025 Sunday REPUBLIC DAY 3 26.02.2025 Wednesday MAHASHIVARATRI 4 13.03.2025 Friday HOLI 5* 30.03.2025 Sunday UGADI 6 31.03.2025 Monday EID-UL-FITR (Ramadan)RAMZAN *…
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Meaning, causes, factors, and need of depreciation and revaluation of assets explained
This article explains the meaning of Depreciation, Causes of Depreciation, Need for Depreciation, Factors of Depreciation, and revaluation of assets by Accounting Entries Depreciation is an accounting method that determines the monetary value of an asset over its useful life due to use, wear and tear, obsolescence, and Legal or other limits on its use.…
Rectification of Errors when Books are Closed, Adjusting and Closing Entries
Before closing the ledger accounts, if the error is found you can rectify it without opening a suspense account. However, after closing the accounts, if the error is found you can record an accounting entry in the General Journal and post it to the relevant ledgers. If the amounts are significant, you can disclose the…
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