Mandatory and Non Mandatory Accounting Standards issued by the ICAI
CA, CS, CMA : Discover the meaning of capitalization of expenses, types of expenses capitalized, criteria for capitalization, treatment in finan...
CA, CS, CMA : Navigate the complexities of foreign exchange with Ind AS 21, guiding the translation and reporting of foreign currency transactio...
CA, CS, CMA : Explore the essentials of Ind AS 20: accounting for government grants and detailing disclosure of government assistance for compli...
CA, CS, CMA : Explore Ind AS 16's guidance on accounting for property, plant, and equipment, covering recognition, measurement, depreciation, an...
CA, CS, CMA : Understand Ind AS 12 for managing income taxes. Learn about accounting treatment, scope, deferred tax assets, liabilities, and com...
CA, CS, CMA : Stay updated on Indian Accounting Standards (Ind AS) amendments. Accounting Standards Board seeks your input on Lack of Exchangeab...
CA, CS, CMA : Clarification provides the level of authority of various documents issued by ICAI e.g. Accounting Standards, Auditing Standards, G...
CA, CS, CMA : The Accounting Standards Board issues an Exposure Draft of International Tax Reform—Pillar Two Model Rules, proposing Amendments...
CA, CS, CMA : As per LLP Act 2008, accounts of Limited Liability Partnership shall be audited in accordance with Rules prescribed under LLP Rule...
CA, CS, CMA : In case of corporate entities, the users or primary users of financial information are shareholders, regulators, potential investo...
Income Tax : ITAT Bangalore held that Comparable Uncontrolled Price (CUP) is the most appropriate method for determining the Arm’s Length Pri...
Income Tax : Aadarh Developers Vs ACIT (ITAT Rajkot) Admittedly, the assessee is a developer and not a works contractor. Therefore, the revenue...
Income Tax : Veolia India Pvt. Ltd. Vs DCIT (ITAT Delhi) Ground- Learned CIT(A) has erred in considering amounts aggregating to Rs.26,839,975 t...
Income Tax : The issue under consideration is whether the change in method of valuation of inventory is allowed if it is based on AS 2 as presc...
Income Tax : The fact that bills were not raised did not stop accrual of income under the mercantile system of accounting. Therefore, the clai...
Company Law : National Financial Reporting Authority (NFRA) issues an order imposing a penalty on CA Gautam Guha of Rupees One Lakh (Rs. 1,00,00...
CA, CS, CMA : The objective of this Standard is to prescribe the manner in which Prior Period Adjustments including errors once identified shall...
Company Law : NFRA Circular on Non-Accrual of interest on borrowings by the companies in violation of Indian Accounting Standards (Ind AS) It ha...
Company Law : ICAI has sent its Approach Paper for revision of existing ASs and the proposed texts of 18 revised ASs out of a total of 32 revise...
Company Law : MCA has notified Companies (Accounting Standards) Rules, 2021 on 23rd June, 2021. vide this notification has amended definition of...
Discover the meaning of capitalization of expenses, types of expenses capitalized, criteria for capitalization, treatment in financial statements, and its impact
Navigate the complexities of foreign exchange with Ind AS 21, guiding the translation and reporting of foreign currency transactions and operations in financial statements.
Explore the essentials of Ind AS 20: accounting for government grants and detailing disclosure of government assistance for compliance and financial clarity.
Explore Ind AS 16’s guidance on accounting for property, plant, and equipment, covering recognition, measurement, depreciation, and impairment to ensure clarity on an entity’s asset investments.
Understand Ind AS 12 for managing income taxes. Learn about accounting treatment, scope, deferred tax assets, liabilities, and compliance guidelines for private limited companies.
Explore Ind AS 10’s guidance on adjusting financial statements for post-reporting period events, including crucial disclosures and adjustments.
Learn about Ind AS 8 – Accounting Policies, Changes in Accounting Estimates, and Errors. Understand its purpose, scope, and how it affects financial reporting, including accounting policies, changes, and corrections.
Learn about Ind AS 7 – Statement of Cash Flows, its objectives, principles, and key requirements for classifying cash flows into operating, investing, and financing activities. Understand how it helps assess an entity’s financial health.
Explore how CA, CS, Auditors & Audit Firms can prevent Indian and Multinational Companies from Non-Compliance of AS 15 (Revised 2005) & IndAS 19. Key insights on NFRA rules, applicability, and actuarial valuation.
Explore practical insights into inventory auditing for manufacturing/trading companies. Learn key audit considerations, from physical counts to valuation, ensuring compliance with AS 2 and IND AS 2.
