Category: Accounting
ICAI has issued revised/updated Guidance Notes (2022 Edition) on Ind AS Compliance by ‘Non Ind AS Companies’ (Division I), ‘Ind AS Companies’ (Division II), and ‘NBFCs’ (Division III) for …
ICAI has decided to revise the Accounting Standards applicable to entities to which Ind AS are not applicable and has accordingly issued the Exposure Drafts of various Revised Accounting …
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 …
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 ICAI’s IND AS Implementation Committee has published the 2019 edition of the ‘Quick Referencer on Indian Accounting Standards (IND ASs)’ issued by the MCA, which provides a concise …
The ICAI’s IND AS Transition Facilitation Group (ITFG) has published a ‘Compendium (January 2019 Edition) of 132 Clarifications issued upto 31/12/2018 (Bulletin #1 to Bulletin #17)’ regarding concerns or …
The ICAI has issued a Clarification regarding Applicability of MCA Notification dt. 30 March 2017 on ‘SBN Transactions’ in respect of financial statements for FY 2017-18 (i.e. disclosure requirements …
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ICAI has withdrawn Guidance Note on Accounting for Real Estate Transactions (applicable to Ind AS entities), originally issued based on principles of Ind AS 11 (Construction Contracts) and Ind …
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 …