Tag: Accounting Standards
Accounting Standards formulated by the ICAI do not override the statute/ law that govern the preparation and presentation of general purpose financial statements of a particular Local Body. Accounting Standards …
NFRA has published its comments on the Regulatory Impact Assessment (RIA) conducted by ICAI for revision of existing Accounting Standards for adherence by the micro entities which are not …
Effect of Uncertainties on Revenue Recognition may either result in postponement of recognition of revenue in full or partial adjustment thereof by way of provisions for a particular accounting …
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, …
To clarify the accounting treatment of the additional liability resulting from an increase in the gratuity ceiling under AS-15/Ind AS-19, the ICAI has released a list of frequently asked …
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’, as under: ICAI …
The Ministry of Corporate Affairs (MCA) has notified Companies (Accounting Standards) Amendment Rules, 2016 (G.S.R. 364(E) dated 30.03.2016) and amended the following Accounting Standards and omitted AS 6, Depreciation …
MCA notifies the Companies Accounting Standards (AS) Amendment Rules, 2016 vide Notification dt 30/03/2016, which are applicable from the financial year 2016-17. Accounting Standard 6 on Depreciation Accounting has …
Accounting for depreciation is generally a significant matter for the purpose of true and fair determination of the operating results of a company as reflected in its statement of …
The ICAI has issued ‘Accounting Standards Interpretations (ASI)’ from time to time in connection with it’s different accounting standards. These interpretations are intended to apply only to material items. …
