Exposure Draft of Revised Guidance Note on Division III – Non Ind AS Schedule III to the Companies Act, 2013 by Corporate Laws & Corporate Governance Committee ICAI

ED/GN-Div-III/2019-2020/50

EXPOSURE DRAFT
ON
GUIDANCE NOTE ON DIVISION III
TO SCHEDULE III
TO THE COMPANIES ACT 2013
FOR NBFC THAT IS REQUIRED TO
COMPLY WITH INDIAN ACCOUNTING
STANDARDS (IND AS)
(Last date for Comments: September 8, 2019)

Issued by Corporate Laws & Corporate Governance Committee
THE INSTITUTE OF CHARTERED
ACCOUNTANTS OF INDIA
(Set up under an Act of Parliament)

Exposure Draft of Revised Guidance Note on Division III – Non Ind AS Schedule III to the Companies Act, 2013 by Corporate Laws & Corporate Governance Committee ICAI

Exposure Draft
Guidance Note
on
Division III to Schedule III
to the Companies Act, 2013 for NBFC that is required to
comply with Ind AS

Following is the Exposure Draft of the Guidance Note on Division III to Schedule III to the Companies Act 2013 for NBFC that us required to comply with Ind AS issued by the Corporate Laws & Corporate Governance Committee of the Institute of Chartered Accountants of India, for comments.

The Committee invites comments on any aspect of this Exposure Draft. Comments are most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.

Comments can be submitted using one of the following methods, so as to be received not later than September 8, 2019.

1. Electronically: Click on http: to submit comments online. (Preferred method): https://forms.gle/pfu8q2xBJvTFantP9

2. Email: Comments can be sent to comments.clcgc@icai.in

3. Postal: Corporate Laws & Corporate Governance Committee, The Institute of Chartered Accountants of India, ICAI Bhawan, A- 29, Sector- 62, Noida – 203209.

Further clarifications on any aspect of this Exposure Draft may be sought by e-mail to comments.clcgc@icai.in.

Index

1. Introduction

2. Objective and Scope

3. Applicability

4. Main Principles – Summary of Division III – ‘Ind AS Schedule III’

5. Structure of Ind AS Schedule III

6. General Instructions for Preparation of Financial Statements: Notes

7. Part I Notes – General Instructions for Preparation of Balance Sheet

8. Part I – Form of Balance Sheet and Notes – General Instructions for Preparation of Balance Sheet: Notes 6 to 11

9. Part II – Statement of Profit and Loss and Notes – General Instructions for Preparation of Statement of Profit and Loss:
Notes 1 to 10

10. Other Comprehensive Income

11. Additional information to be disclosed by way of Notes to Statement of Profit and Loss

12. Part III – General Instructions for Preparation of Consolidated Financial Statements

Annexures

Annexure A – Division III to Schedule III (‘Ind AS Schedule III’) to the Companies Act, 2013

Annexure B – Key Difference between Division I and Division III and Key Difference between Division II and Division III

Annexure C – Illustrative List of Disclosures required under the Companies Act, 2013

Annexure D – List of Indian Accounting Standards notified as on date

Annexure E –General Circular No. 39 / 2014 dated 14th October 2014

Download Exposure Draft on Guidance Note on Division III to Schedule III to the Companies Act 2013

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