Guidance Note on Accounting for Rate Regulated Activities (Second Edition : February, 2015) – (18-02-2015)
The ICAI has issued the Second Edition of the Guidance Note on Accounting for Rate Regulated Activities to make certain changes with respect to presentation requirements to make this Guidance Note consistent with the Ind AS 114, Regulatory Deferral Accounts formulated corresponding to IFRS 14. Further, this Guidance Note includes some illustrative examples for the effective and consistent application of the principles enunciated in it.
The said Guidance Note can be accessed/downloaded on the Institute’s website namely, www.icai.org at the following link:
We hope that this Guidance Note will go a long way in establishing sound accounting and reporting principles in the rate regulated entities.