GLG News by Exploration & Production Financial Statement Analysts

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Transfer Pricing and International Taxation Policy - Some Aspects of The Debate

September 28, 2010

Analysis of:The Send Jobs Overseas Act | online.wsj.com

Tax policy and transfer pricing is gaining in importance. The present debate on changing the US tax law on overseas profits brings into focus a number of aspects. I touch on a few of these aspects in my analysis presented below.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Indian Tax Procedures - Corporate Tax Returns - Extension of Last Date

September 27, 2010

Analysis of:CBDT Circular of 27th September 2010 | www.icai.org

The CBDT has issued a circular extending the last date of filing corporate tax returns in India. This comes as a welcome reprieve. The reason given for the extension is the environment. Another unstated reason is software problems. In this analysis below I look at some of  the effects of this circular.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Indian Tax Procedures - Impact of Recent Changes in Corporate Tax Returns

September 15, 2010

The Indian Income Tax Department has recently introduced a provision for mandatory filing with PAN based digital signature on Corporate Tax Returns. In my analysis below I discuss the implications of the same from a procedural viewpoint.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

International Taxation - Transfer Pricing - The Grey Area of Tax Leakage Control

August 5, 2010

Analysis of:IRS Reorganizes Unit to Focus on International Tax Evasion | www.nytimes.com

International Taxation is an area where major tax leakages take place away from the prying eyes of authorities. Transfer pricing helps companies to keep funds away from multiple tax jurisdictions. It also helps multiple tax jurisdictions tax the same income across countries simultaneously. The Double Taxation Avoidance Treaties between nations in this regard help in the development of international trade and commerce. In this analysis I look at some of these aspects of international taxation.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Convergence of Accounting Standards - The Looming Challenge

July 14, 2010

Analysis of:Major Accounting Changes:When Will They Hit? | www.cfo.com

Convergence has been in the news and is proceeding at a marathon pace. Europe is already following IFRS. In Asia all the major economies want to follow IFRS - because it helps them raise capital and aids in the development of their capital markets. America  has major concerns concerning the principles rather than general rules of IFRS.  In this analysis I look at why convergence will come about and the revised timetable is not really a major departure.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Budgeting - An approach for recessionary times

July 13, 2010

Analysis of:From Adversity, Better Budgets | www.cfo.com

A budget is a planning tool and helps management guide the company through its business. A general economic recession with sales declining for most businesses lays  emphasis on budgets and increases their importance. In a recession financial and cost planning come to the forefront. A budget has to help the business achieve its objective and help it stay afloat. In this analysis I look at how budgeting needs to be adapted especially in recessionary times to enable a business to sustain itself.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Environment Liability Accounting - Measurement Problems for Company Accounting

June 18, 2010

Analysis of:BP Chief on Hot Seat | online.wsj.com

The BP oil rig disaster has shown that companies can have problems arising overnight for unforeseen reasons. The oil rig disaster raises questions for all kinds of companies and how they should provide for their environment liabilities. Coming at about the same time that  the judgment in the Bhopal gas disaster case of 1984 which is far from over, the impact of environmental liabilities can be long term and substantial. In this analysis I look at some factors that companies should consider.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Hedge Funds - The Benefits - Accounting Conundrums

June 13, 2010

Analysis of:Learning to Love Hedge Funds | online.wsj.com

Hedge Funds play a major role as risk stabilizers in the economy. At the same time they create accounting conundrums. In this analysis I examine these two aspects.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

The Emerging Accounting Complication - Credit Default Swaps

May 21, 2010

Analysis of:Naked Truth on Default Swaps | www.nytimes.com

The emerging legislation and rules both in the US and Germany are bound to make Credit Default Swaps an area of confusion and accounting jugglery for some time to come. In this analysis I take a look at some of the possible confusion which may arise in this area.

Nitish GroverPrincipal, OwnerNitish Grover and Associates

Gold - The enigma - Accounting - Fair Value - Where Are We Headed

May 12, 2010

Analysis of:Gold Prices Extend Climb | online.wsj.com

The CDO crisis followed by the mortgage meltdown and now the Greek enigma are having a cascading effect on the price of gold. This in turn means that greater investible resources are flowing into the yellow metal - some in paper securities backed by gold and increasingly into the yellow metal itself. In this analysis I take a look at how this may impact fair value and its possible reflection on corporate earnings.

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