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Clarity Behind the Numbers
Insights for Smarter Financial Decisions
Practical accounting and financial insights for business owners who value clarity, structure, and confident decision-making.
Aryan Consultancy specializes in crafting efficient financial systems that improve your business's operational clarity. With a focus on reconciliation backlog fixes, we streamline reporting and compliance processes, ensuring your business stays ahead in the competitive market. From startups to enterprises, our expertise in financial management drives sustainable growth. Experience the difference with Aryan Consultancy — your partner in achieving financial clarity and success.
What Your Chart of Accounts Is Actually Telling You — And Why Most QuickBooks Files Get It Wrong
When I open a new client's QuickBooks file, the first thing I look at is the Chart of Accounts — not the P&L, not the bank balance. Everything downstream is built on top of it. And in most QuickBooks files I review, the structure is wrong in at least three places.
CA Siddhartha Agrawal
Aug 28, 20235 min read
Travel Agency - Internal Controls
Travel Agency Internal Controls Today we are going to discuss internal control and review points specific to travel agency business These complexities are not limited to operations and controls but also extend to revenue recognition challenges in subscription-based businesses where timing and accuracy are critical. 1. Transaction Accuracy: Review the accuracy of booking and payment transactions to ensure they match the agreed-upon terms and rates. Accurate reporting also depe
CA Siddhartha Agrawal
Aug 13, 20233 min read
The Bookkeeping and Accounting Advantage: Expert Insights and Outsourcing Benefits
Outsourcing bookkeeping and accounting removes compliance risk and frees your team for decisions that actually move the business. When it makes sense, what to look for in a partner, and how the engagement model should be structured.
CA Siddhartha Agrawal
Jul 26, 20233 min read
Enhancing Organizational Integrity: Benefits of Outsourced Internal Audit Department
An independent internal audit department is not just a compliance measure. Staffed by external professional experts with no vested interest in outcomes, it provides the unbiased assessment, regulatory expertise, and specialist credibility that in-house teams struggle to replicate.
CA Siddhartha Agrawal
Jul 17, 20233 min read
Transforming Attendance Management with AI Multi-Location Organization | Payroll Outsourcing Success Story
180 branches. Manual attendance tracking across every one. Payroll processing that took weeks and was still unreliable. How AI-enabled workflows, Google Forms, and automated controls transformed attendance management as part of a broader payroll outsourcing engagement.
CA Siddhartha Agrawal
Jul 2, 20232 min read
BONANZA OR GIMMICK! - Analysis of Corporate Tax Rate, Tax Advisory by Aryan Consultancy
Corporate Tax The Govt. of India, in the year 2019, offered reduced tax rate of 22% to domestic companies, subject to certain conditions. Here we do a simple layman reading of the provisions. The Taxation Law (Amendment) Ordinance 2019 (the Ordinance) promulgated by the President of India on September 20, 2019, inserted a new provision, viz. Section 115BAA in the Income Tax Act (the Act) with effect from Assessment Year 2020-21, giving an option to a domestic company to pay
CA Siddhartha Agrawal
Oct 22, 20203 min read
Tax-ing Provisions - Joint Development Agreement - Tax Compliance and Advisory by Aryan Consultancy
GST Advisory The arrangement of Development Agreement [‘DA’] or Joint Development Agreement [‘JDA’] has emerged as a popular arrangement wherein property owner and developer enter in to a joint development agreement to develop the property. Generally, under this type of arrangement, in lieu of land owner surrendering his land in favour of the developer may get monetary or non-monetary consideration in the form of either lump sum consideration or certain percentage of future s
CA Siddhartha Agrawal
Oct 11, 20207 min read
Overview of new provisions under Section 206C(1H) for TCS on Goods - Aryan Consultancy
New TCS Provisions on sale of goods 1H Finance Act 2020 introduced a new provisions under Section 206C(1H) for the Tax Collected at Source (TCS) on Goods With effect from 1st of October 2020. 206C(1H) Every person, being a seller, who receives any amount as consideration for sale of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, other than the goods being exported out of India or goods covered in sub-section (1) or sub-sec
CA Siddhartha Agrawal
Oct 4, 202010 min read
Automobile Dealer Daily Audit, Compliance, fraud risk - by Aryan Consultancy
Every automobile dealership carries a specific set of fraud and compliance risks that intensify under operational stress. A daily audit protocol — covering inventory, cash, documentation, and vendor controls — is the foundation of resilient dealership management.
CA Siddhartha Agrawal
May 12, 20202 min read
UNDERSTANDING TAX SHELTER SCAMS AND STEPS TO CURB THEM - Tax Advisory by Aryan Consultancy
Tax Advisory Let's, talk about the effects of tax shelter scams, explains what tax shelters are, types of tax shelters, abusive and non-abusive tax shelters, role of unscrupulous accounting firms and initiatives taken by the various Government bodies around the world to curb aggressive tax planning and tax evasion Tax shelters are any method of reducing taxable income resulting in a reduction of payment of tax to the Government. The methodology can vary depending on local and
CA Siddhartha Agrawal
May 7, 20204 min read
Internal audit considerations for used automobile dealership - Risk Advisory - Aryan Consultancy
Trading Business Internal Audit Let's discuss today, industry audit procedures performed for audits of used automobile dealerships. The used car industry is composed of new car dealers who accept trade-ins on the sale of new automobiles and can also purchase used vehicles directly from customers, other car dealers or independent auto dealers. These dealers not affiliated with an automaker and, their principal business is the sale of used vehicles. When examining an independen
CA Siddhartha Agrawal
Apr 22, 20202 min read
When Controls Break Down: Fraud and Business Risk Areas That Emerge in a Crisis - Aryan Consultancy
Fraud doesn't wait for stable conditions. When controls are relaxed, teams are dispersed, and oversight thins out, risk accelerates. The same vulnerabilities that surfaced during COVID-19 emerge in any operational disruption — and most businesses are still exposed to them.
CA Siddhartha Agrawal
Apr 18, 20204 min read
GST on Director's salary - Tax Management Consultancy by Aryan Consultancy
Update: 10-06-2020 In a welcome move, the Ministry of Finance, Policy Wing has come out with a clarification putting to rest all the confusion on applicability of GST on Directors remuneration. The Remuneration to Directors has been divided into two categories, payments to Independent Directors and Directors working as employees. Broadly, the payment of remuneration to the Independent Directors will attract GST on reverse charge basis, whereas the salary payments to employee
CA Siddhartha Agrawal
Apr 16, 20201 min read
Business Continuity Planning and the Internal Auditor's Role
When disruption hits, the internal auditor should be one of the first people in the room — not to audit what went wrong, but to help the organisation navigate what is happening right now. Business continuity is where internal audit proves its value beyond compliance.
CA Siddhartha Agrawal
Apr 15, 20204 min read
Internal Audit in a Remote and Hybrid Work Environment: What Changes and What Doesn't - Aryan Consultancy
Remote and hybrid work is now permanent, not exceptional. Internal audit has had to adapt — virtual techniques, cloud-based access, data analytics over physical observation. Here's what changed, what stayed the same, and where the real audit risk now lives.
CA Siddhartha Agrawal
Apr 14, 20204 min read
Internal Audit plan of automobile industry - Aryan Consultancy
#Risks to be Mitigated in an #Audit Plan The internal auditor is required understand the audit risk involved in a process prior to planning a review. Audit risks, therefore, influences the audit planning methodology in a significant manner. Audit risk is composed of Inherent Risks, Control Risks and Detection risks which are explained below: (i) Inherent Risks— Inherent risks are defined as the risks involved in the nature and volume of the business transaction; for instance,
CA Siddhartha Agrawal
Apr 12, 20204 min read
The top 10 #fraud #risk factors inherent in #dealerships - Aryan Consultancy
Auto dealerships are unique businesses — and uniquely susceptible to fraud. Keep your assets where they belong by monitoring these 10 fraud risk factors. There are a variety of fraud risk factors inherent in auto #dealerships; it’s just the nature of the beast. But that doesn’t mean there aren’t ways to control for them. The best defense? A good offense. Knowing what risks are out there better positions dealerships to guard against them. Multiple businesses mean multiplied ri
CA Siddhartha Agrawal
Apr 11, 20204 min read
GST on Director Remuneration, Tax Compliance and Advisory by Aryan Consultancy
The recent article in the economic times reporting that the remuneration paid by the Company to it's Director would attract GST under reverse charge mechanism under RCM has created lot of confusion and unrest among the corporates, this article aims at giving an insight on this subject. The levy of GST is governed by Section 9 of the Central Goods and Service Tax Act, 2017 (for brevity hereinafter referred to as ‘CGST Act’) and the respective Sate and Union Territory GST Act
CA Siddhartha Agrawal
Apr 9, 20206 min read
India Legalities - Legal Compliance by Aryan Consultancy
Legalities in India Business exigencies and compliances differ from country to country. You need to be aware of the cultural and legal implications of your business operations in India, because you could face heavy punishment for transgressing. It is therefore important to acquaint yourself with the law in India. There are legalities that you will have to comply with, certain laws or requirements from your country may not be applicable. Some of the areas to investigate when s
CA Siddhartha Agrawal
Apr 7, 20201 min read
Type of Business Entity considerations - Aryan Consultancy
The following types of business entities are usually used by foreign investors to set up a business in India: Corporations, of two types: Private Limited Company: A company limited by shares in which there can be maximum 200 shareholders, no invitation can be made to the public for subscription of shares or debentures, cannot make or accept deposits from Public and there are restriction on the transfer of shares. The liability of each shareholder is limited to the extent of t
CA Siddhartha Agrawal
Apr 6, 20202 min read
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