Category: Accounting
Financial Statements are prepared based on certain assumptions which are neither disclosed nor required to be disclosed, so they are called Fundamental Accounting Assumptions, like Going Concern, Consistency & …
Once an ASLB is issued, the Local Bodies should follow the ASLB and not the corresponding Accounting Standard issued by the ICAI.
Primary considerations in selection of accounting policies of an enterprise should be that the financial statements should represent a true and fair view of the state of affairs and …
ICAI has released Quick Referencer on Indian Accounting Standards (Ind AS), which provides summarised basic understanding on the scope/ applicability of Ind AS to find relevant guidance on specific …
ICAI has issued Guidance Note on Ind AS Compliance by NBFCs, for preparation and presentation of Financial Statements in line with requirements of Division III of Ind AS Schedule …
SEBI notifies revised procedure/ formats for Limited Review/ Audit Reports of Listed Entities (including those entities whose accounts are to be consolidated with the listed entity), applicable applicable with respect to …
ICAI has published fourth edition (July 2019) of the "Ind AS - An Overview" a booklet which provides an overview of the various aspects related to IFRS-converged Indian Accounting …
ICAI has published the revised/ second edition (July 2019) of the Guidance Note on Division I (Non Ind AS) of the Schedule III to the Companies Act, 2013, for …
ICAI has published the revised/ second edition (July 2019) of the Guidance Note on Division II (Ind AS) of the Schedule III to the Companies Act, 2013, for benefit …
Accounting Standards (AS 1~32) are issued/ amended by the Accounting Standards Board of ICAI, to establish uniform standards for preparation of financial statements, in accordance with Indian GAAP (Generally …