Accounting Standards for Local Bodies (ASLB) by ICAI
Once an ASLB is issued, the Local Bodies should follow the ASLB and not the corresponding Accounting Standard issued by the ICAI.
Tag: Accounting Standards
ICAI’s Guidance Note on Division I (Non Ind AS) of Schedule III to Companies Act, 2013
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 …
List of Accounting Standards (AS 1~32) of ICAI: Download PDF Copy
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 …
Companies (Accounting Standards) Amendment Rules, 2018 notified by MCA: AS 11 amended
The MCA has notified the Companies (Accounting Standards) Amendment Rules, 2018, to amend Accounting Standard (AS) 11: The Effects of Changes in Foreign Exchange Rates (revised 2003) applicable w.e.f. 1 April, 2018.
ICAI’s FAQs/ Clarification on Accounting Treatment of Enhanced Gratuity Ceiling (AS-15/ Ind AS-19)
The ICAI has issued a set of FAQs to clarify accounting treatment of the increased liability arising from enhancement of gratuity ceiling from Rs. 10 Lac to 20 Lac, …
AS-30, AS-31, AS-32 withdrawn by ICAI
ICAI has announced withdrawal of 'AS 30 on Financial Instruments: Recognition and Measurement', 'AS 31 on Financial Instruments: Presentation' and 'AS 32 on Financial Instruments: Disclosures'.
ICAI Amends AS 2, AS 4, AS 10, AS 13, AS 14, AS 21, AS 29 and withdraws AS 6
ICAI makes Amendments to AS 2, AS 4, AS 10, AS 13, AS 14, AS 21, AS 29 and withdraws AS 6; pursuant to MCA's Companies Accounting Standards Amendment …
MCA’s amended Accounting Standards Rules, 2016 & their Applicability
The Ministry of Corporate Affairs (MCA) has notified Companies Accounting Standards (AS) Amendment Rules, 2016 vide Notification dt 30th March 2016, applicable from financial year 2016-17.
ICAI Guidance Note- Depreciation Accounting in Companies (Sch. II Companies Act)
To solve issues arising out of Schedule II to the Companies Act, 2013, the ICAI has formulated Guidance Note on Accounting for Depreciation in Companies in the context of …
AS-1 of ICAI : Disclosure of Accounting Policies
AS 1 issued by the ICAI is mandatory in nature and deals with the disclosure of significant accounting policies followed in preparing and presenting the financial statements.