Mandatory and Non Mandatory Accounting Standards issued by the ICAI
CA, CS, CMA : Learn the accounting treatment for derecognition, retirement, and disposal of PPE under AS 10, including recognition, measurement,...
CA, CS, CMA : Discover a comprehensive FAQ on Ind AS 115, covering revenue recognition principles, key concepts, and implementation challenges. ...
CA, CS, CMA : Understand AS 13 Accounting for Investments: Learn about investment types, properties, carrying amounts, reclassification, and ess...
CA, CS, CMA : Explore AS 17 Segment Reporting: its scope, definitions of business and geographical segments, allocation methods, and criteria fo...
CA, CS, CMA : Understand Accounting Standard 10 (AS 10) for "Property Plant and Equipment" covering recognition, measurement, valuation, depreci...
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...
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...
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...
Following is the Exposure Draft of the Indian Valuation Standard 103 Valuation Approaches and Methods issued by the Valuation Standards Board of the Institute of Chartered Accountants of India, for comments.
Following is the Exposure Draft of Valuation Bases issued by the Valuation Standards Board of the Institute of Chartered Accountants of India, for comments.
Following is the Exposure Draft of the Indian Valuation Standard 101 Definitions issued by the Valuation Standards Board of the Institute of Chartered Accountants of India, for comments.
Temporary differences between carrying amount and tax base of net assets of subsidiaries, branch or associate consolidated in consolidated financials may lead to recognition of deferred tax. This presentation explains the recognition of deferred tax in cases where the temporary difference may be different from the temporary difference associated with that investment in the parent’s […]
PPT covers 1.Ind As road Map & its applicability 2.Salient features of Ind AS 3.Summary of Ind AS 4.Transition to Ind As and 5.Impact of Ind AS transition
Scheduled Commercial Banks (SCBs), excluding Regional Rural Banks (RRBs), were required to implement Indian Accounting Standards (Ind AS) from April 1, 2018 vide our Circular dated February 11, 2016.
Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 15 „Ind AS Transition Facilitation Group‟ (ITFG) of Ind AS Implementation Group has been constituted for providing clarifications on timely basis on various issues related to the applicability and /or implementation of Ind AS under the Companies (Indian Accounting Standards) Rules, 2015, raised by preparers, users and […]
Ind AS Implementation Group has come out with Educational Material on Ind AS 103, Business Combinations which by way of Frequently Asked Questions (FAQs) explains the principles enunciated in the Standard. This publication will provide significant guidance to the stakeholders in how to account for the Business Combinations and its disclosures.
Vide Notification number S.O. 529(E), dated the 5th February, 2018 it was specified that provisions of Accounting Standard 22 or Indian Accounting Standard 12 relating to deferred tax asset or deferred tax liability shall not apply, for seven years to certain Government companies with effect from the 1st April, 2017. Now Government has vide this […]
An important development in Ind AS Framework i.e. a new Ind AS in the area Revenue recognition has been notified by Ministry of Corporate Affairs which was formulated based on recommendation made by The Institute of Chartered Accountants of India.
