It is no longer new that the advent of the Finance Act 2020, which is majorly a bulk of significant change in the Company Income Tax Act and its related allies in the tax family,(VAT etc.) has brought a shift…

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of…