Mandatory and Non Mandatory Accounting Standards issued by the ICAI
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 : Explore Ind AS 10's guidance on adjusting financial statements for post-reporting period events, including crucial disclosures and...
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...
Explore the strategic benefits of Actuarial Valuation for Gratuity Accounting Provision. From compliance assurance to risk management, employee retention, and financial gains – uncover the multifaceted advantages. Enhance transparency, build trust, and navigate uncertainties
Article explains Actuarial Valuation Services in India, complying with AS 15 (Revised 2005) & Ind AS 19. Understand defined benefit plans, compliance criteria, and implications for Indian companies.
In this article, the authors have provided a brief discussion on the provisions of Section 188 of the Companies Act, 2013 and AS-18 as a comparative analysis.
Explore the differences between Indian Accounting Standards (IND AS) and the Income Tax Act in calculating taxable profit. Part 1 covers adjustments, additions, and deductions affecting entities under IND AS
Explore intricacies of closing stock valuation, including AS-2 standards, matching principle and tax considerations. Understand nuances of cost, net realizable value and impact on financial statements.
Stay updated on Indian Accounting Standards (Ind AS) amendments. Accounting Standards Board seeks your input on Lack of Exchangeability in Ind AS 21
Discover legal requirements for maintaining financial records under various acts and how it relates to Diwali’s significance. Learn implications of non-compliance.
Get insights into IND AS 34 & IAS-34, with changes as per the Companies (Indian Accounting Standards) Amendment Rules 2023. Explore the differences, scope, and more.
Discover difficulties faced by aspiring accountants and practical solutions to manage their responsibilities towards business entities. Learn why professional training is essential.
In this comprehensive guide, we provide answers to 71 frequently asked questions (FAQs) regarding Tax Audit Reports (TAR) and Accounting Standards (ASs) in India. From understanding the applicability of TAR to exploring the roles of auditors and reviewing boards, this article covers key aspects of tax audits and accounting standards.
