Tag: Accounting Standards

Get a comprehensive overview of alternative accounting treatments and disclosure requirements under AS-1 of ICAI, with real-world examples.

Learn about the fundamental accounting assumptions that shape financial reporting, i.e. going concern, consistency and accrual basis accounting.

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.

Accounting policies are crucial in financial statement preparation. Learn about their nature and how their disclosure requirements vary depending on the circumstances in which enterprises operate.

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 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 …