Mandatory and Non Mandatory Accounting Standards issued by the ICAI
CA, CS, CMA : Recurring accounting errors in non-corporate financials and audit assignment limits for Chartered Accountants are outlined, impact...
CA, CS, CMA : Discover frequent errors in corporate financial statements, including misclassifications, incorrect depreciation, revenue recognit...
CA, CS, CMA : Understand AS 4 on events occurring after the balance sheet date, distinguishing adjusting and non-adjusting events and their impa...
CA, CS, CMA : ICAI issues new financial statement formats for non-corporate entities, effective FY 2024–25, standardizing reporting and disclo...
CA, CS, CMA : Understand the key principles of AS 10 for Property, Plant, and Equipment (PPE), including recognition, cost treatment, depreciati...
Company Law : NFRA highlights auditor responsibilities in related party transactions, emphasizing compliance with Ind AS 24, SEBI regulations, a...
CA, CS, CMA : ICAI announces new classification criteria for non-company entities' Accounting Standards, effective April 1, 2024. Learn about MS...
CA, CS, CMA : ICAI amends AS 22 for non-company entities, introducing exceptions and disclosure requirements for deferred tax related to Pillar ...
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...
Income Tax : ITAT Ahmedabad rules in favor of Aaryan Buildspace LLP, holding that Section 43CB does not apply to real estate developers recogni...
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...
Company Law : The Ministry of Corporate Affairs amends Companies (Ind AS) Rules, introducing new leaseback regulations. Effective from 9th Septe...
Company Law : MCA penalizes Sri Subhalakshmi Infra Pvt Ltd for improper related party disclosures in FY 2014-15 and 2016-17, imposing a total fi...
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...
Explore illustrative accounting policies for non-company entities as per ICAI standards, covering preparation, revenue recognition, depreciation, and more.
A guide on Income Computation and Disclosure Standards (ICDS) and its reconciliation with Accounting Standards (AS) for taxable income computation in India.
ICAI amends AS 22 for non-company entities, introducing exceptions and disclosure requirements for deferred tax related to Pillar Two income taxes. Effective April 1, 2024.
Learn the accounting treatment for derecognition, retirement, and disposal of PPE under AS 10, including recognition, measurement, and journal entry examples.
MCA penalizes Sri Subhalakshmi Infra Pvt Ltd for improper related party disclosures in FY 2014-15 and 2016-17, imposing a total fine of ₹8 lakhs.
Discover a comprehensive FAQ on Ind AS 115, covering revenue recognition principles, key concepts, and implementation challenges. Gain insights into how this standard impacts financial statements.
Understand AS 13 Accounting for Investments: Learn about investment types, properties, carrying amounts, reclassification, and essential financial disclosures.
Explore AS 17 Segment Reporting: its scope, definitions of business and geographical segments, allocation methods, and criteria for reportable segments.
Understand Accounting Standard 10 (AS 10) for “Property Plant and Equipment” covering recognition, measurement, valuation, depreciation, and disclosures, ensuring accurate financial reporting.
Understand AS 2 and its guidelines for inventory valuation. Learn about costs, net realizable value, exclusions, and comparisons with examples.
