Tag: Accounting Standards
Once an ASLB is issued, the Local Bodies should follow the ASLB and not the corresponding Accounting Standard issued by the ICAI.
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 …
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 …
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.
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, …
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 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 …
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.
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 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.