Category: Accounting
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 …
The MCA had notified the Ind AS via the Companies (Indian Accounting Standards) Rules, 2015. Subsequently, the MCA has notified the Companies (Indian Accounting Standards) (Amendment) Rules, 2016/2017 to carry …
ICAI’s Guidance Note on Audit of Consolidated Financial Statements (Revised 2016 Edition) relating to procedures for preparation and presentation of consolidated financial statements under AS/ Ind AS, has been …
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 ASB of ICAI has issued Clarifications/ FAQs on Dividend Distribution Tax (DDT) to clarify the requirements relating to presentation of Dividend and DDT as per Ind AS, as …
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 …
List of Interpretations issued by the IFRS Interpretations Committee (IFRIC)/ Standards Interpretations Committee (SIC) included in Appendix to relevant Indian Accounting Standards (Ind AS): Sl. No. IFRIC/ SIC No. …
Sl. No. IFRS/ IAS Ind AS Subject 1 IAS 1 Ind AS 1 Presentation of Financial Statements 2 IAS 2 Ind AS 2 Inventories 3 IAS 7 Ind AS …
ASB of ICAI has replied to the question raised by Ind AS Transition Facilitation Group as to “whether the accumulated depreciation and provision for impairment under previous GAAP would …
The ICAI has clarified on FAQs regarding the requirements to prepare Consolidated Financial Statements in accordance with the applicable Companies Rules and the Accounting Standards, as under: These FAQs …
