Category: Accounting
The ICAI has issued an updated publication titled “Indian Accounting Standards (Ind AS): Disclosures Checklist (2022 Edition),” which includes approximately 3000 disclosures for companies preparing Ind AS-based financial statements …
The accounting method known as “double entry” is based on the analogy that each transaction is comprised of two or more components, each of which needs to be recorded …
NFRA has issued a Circular/ Advisory against Companies not accruing the Interest Liability on NPA Borrowings in violation of the IND AS 109. During a disciplinary proceeding u/s 132(4) …
The ICAI’s Guidance Notes on Accounting/ Auditing Aspects are intended to provide members with guidance on matters that may arise in the course of their professional work and on …
MCA has notified the Companies (Accounts) Second Amendment Rules, 2022 to further defer the date of applicability for the requirement relating to Audit Trail feature in the Accounting Software …
The “Companies Indian Accounting Standards Rules 2015,” or the convergent Indian Accounting Standards (nd AS), have been notified by MCA. Additionally, MCA has included information in the Annexure at …
The National Financial Reporting Authority (NFRA) has issued ‘Financial Reporting Quality Review (FRQR)’ Report in the case of Financial Statements of M/s Prabhu Steels Industries Limited (PSIL) for FY …
Accounting Standards for non-corporate entities, such as Small and Medium-sized Enterprises (SMEs), in India are determined by the Accounting Standards Board (ASB) of ICAI. These standards adhere to Indian …
When it comes to preparing financial statements, selecting appropriate accounting policies is crucial to ensure accuracy and transparency. The Institute of Chartered Accountants of India (ICAI) has issued Accounting …
Get a comprehensive overview of alternative accounting treatments and disclosure requirements under AS-1 of ICAI, with real-world examples.