Mandatory and Non Mandatory Accounting Standards issued by the ICAI
Income Tax : This guide explains all ten Income Computation and Disclosure Standards (ICDS) and provides reconciliation formats between Account...
CA, CS, CMA : Explains how Indian Accounting Standards operate, covering transition to Ind AS, presentation of financial statements, and the reg...
CA, CS, CMA : This explains when investment values must be written down under AS 13 and Ind AS, and why recognising impairment is essential for ...
CA, CS, CMA : Breaks down the purpose and components of a CFS and highlights how it reveals a company’s real liquidity, not just accounting pr...
Finance : Summary of mandatory financial record-keeping periods under the Income Tax Act, GST Law (72 months), and Companies Act (8 ye...
CA, CS, CMA : ICAI issues Guidance Note for non-corporate financial statements, effective April 1, 2024, replacing 2022 Technical Guide with sta...
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...
Income Tax : ITAT held that Accounting Standard-19 governs accounting treatment but does not determine tax treatment under the Income-tax Act. ...
Income Tax : The issue was whether foreign exchange fluctuation loss recorded at year-end was notional and disallowable. The Tribunal upheld it...
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...
Company Law : The MCA amended AS 22 to incorporate provisions related to OECD Pillar Two global minimum tax rules. The amendment exempts compani...
Company Law : The adjudicating authority held that failure to disclose related party transactions violated statutory audit duties. The key takea...
CA, CS, CMA : A Chartered Accountant was found not guilty of professional misconduct by the ICAI Disciplinary Committee regarding allegations of...
CA, CS, CMA : A Chartered Accountant has been reprimanded by the ICAI Disciplinary Committee for professional misconduct, including an incorrect...
CA, CS, CMA : The ICAI Disciplinary Committee has fined CA Ankit A. Chokshi Rs. 25,000 after finding him guilty of professional misconduct for f...
Executive Summary: Construction contracting in India spans EPC, turnkey, design–build, BOT/BOOT service concessions, real estate development and long‑term project management consulting. Accounting for these arrangements has historically been governed by Accounting Standard (AS) 7 “Construction Contracts” under Indian GAAP and, for Ind AS reporters, by Ind AS 115 “Revenue from Contracts with Customers” read with relevant […]
A comprehensive guide to accounting for joint ventures and associates under Indian standards, including the equity method, joint arrangements, and key differences between AS and Ind AS frameworks.
A professional analysis of provisions, contingent liabilities, and contingent assets under AS 29, AS 4, and their corresponding Ind AS standards, highlighting key concepts and differences.
A professional analysis of interim financial reporting under AS 25 and Ind AS 34, covering key principles, regulatory context, and practical applications in India.
This analysis compares AS 24 and Ind AS 105 for discontinuing operations, examining their role in financial reporting, the going concern concept, and COVID-19’s impact.
A summary of EPS, a key financial metric, covering its calculation under AS 20 and Ind AS 33, including concepts like basic and diluted EPS and key adjustments.
A comparative analysis of AS 26 and Ind AS 38 for intangible assets in India. It covers recognition, measurement, and key differences for accountants and companies.
This article examines the shift in Indian accounting from AS 14’s dual-path approach for amalgamations to Ind AS 103’s fair-value based acquisition method, highlighting key differences.
his article presents an expert-level analysis of accounting for taxes on income, referring to the Indian Accounting Standard AS 22 (Accounting for Taxes on Income) and the corresponding Ind AS 12 (Income Taxes).
This article provides an in-depth comparative study of AS 19 and Ind AS 116, examines the underlying concepts, explores complexities through real-life examples, and analyses their implications on financial reporting.
