List of Accounting Standards of ICAI
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 …
Tag: ICAI
Mention of FRN mandatory for UDIN Generation by ICAI Members
ICAI has issued an Announcement on 31/01/2022, stating that it is mandatorily required from Members to mention the Firm Registration Number (FRN), during the process of generating the UDIN …
Key Considerations in Selection of Accounting Policies as per AS-1
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 …
Alternative Accounting Treatments and AS-1 of ICAI
Get a comprehensive overview of alternative accounting treatments and disclosure requirements under AS-1 of ICAI, with real-world examples.
Overview of AS-1 of ICAI: Disclosure of Accounting Policies
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.
Fundamental Accounting Assumptions as per AS-1
Learn about the fundamental accounting assumptions that shape financial reporting, i.e. going concern, consistency and accrual basis accounting.
Nature of Accounting Policies and Disclosure Requirements of AS-1
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’s Revised Guidance Notes on Ind AS Compliance by Companies/ NBFCs
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’s Implementation Guides on SA 210 and SA 560
ICAI has come out with the Implementation Guides on Auditing Standards ‘SA-560: Subsequent Events’ and ‘SA-210 : Agreeing the Terms of Audit Engagements, as under: ICAI’s Implementation Guide on …
Exposure Drafts of Revised Accounting Standards of ICAI
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 …