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) …
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 …
MCA notifies the “Companies Indian Accounting Standards (Ind AS) Rules 2015”, i.e. the convergent Indian Accounting Standards.
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.
Learn about AS 1 of ICAI and its crucial role in promoting transparency and comparability of financial statements through the disclosure of significant accounting policies.
Learn about the fundamental accounting assumptions that shape financial reporting, i.e. going concern, consistency and accrual basis accounting.
