AS 31

Queries are being received from various quarters as to whether in today’s context, Accounting Standard(AS)-30, Accounting Standard(AS)-31 and Accounting Standard(AS)-32 are required to be studied thoroughly for the examinations of the Institute, as they are included in the respective syllabus. Full Article

The CA institute favours a regime where depreciation rates for company law purposes are based on the useful life of an asset. The depreciation rates should also be indicative and not prescriptive as is the case now, Mr Amarjit Chopra, President of Institute of Chartered Accountants of India (ICAI), has said. Full Article