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Mandatory and Non Mandatory Accounting Standards issued by the ICAI

Latest Articles


Ind AS 21: Effects of Changes in Foreign Exchange Rates 

CA, CS, CMA : Navigate the complexities of foreign exchange with Ind AS 21, guiding the translation and reporting of foreign currency transactio...

March 6, 2024 1242 Views 0 comment Print

Ind AS 20: Accounting for Government Grants & Disclosure of Government Assistance

CA, CS, CMA : Explore the essentials of Ind AS 20: accounting for government grants and detailing disclosure of government assistance for compli...

March 6, 2024 402 Views 0 comment Print

Ind AS 16 Property, Plant and Equipment

CA, CS, CMA : Explore Ind AS 16's guidance on accounting for property, plant, and equipment, covering recognition, measurement, depreciation, an...

February 28, 2024 936 Views 0 comment Print

Ind AS 12 – Income Taxes

CA, CS, CMA : Understand Ind AS 12 for managing income taxes. Learn about accounting treatment, scope, deferred tax assets, liabilities, and com...

February 28, 2024 681 Views 0 comment Print

Mastering Ind AS 10, Events after the Reporting Period

CA, CS, CMA : Explore Ind AS 10's guidance on adjusting financial statements for post-reporting period events, including crucial disclosures and...

February 27, 2024 609 Views 0 comment Print


Latest News


Exposure Draft of Lack of Exchangeability – Amendments to Ind AS 21

CA, CS, CMA : Stay updated on Indian Accounting Standards (Ind AS) amendments. Accounting Standards Board seeks your input on Lack of Exchangeab...

November 1, 2023 540 Views 0 comment Print

Amendment to Clarification Regarding Authority Attached to Documents Issued by ICAI

CA, CS, CMA : Clarification provides the level of authority of various documents issued by ICAI e.g. Accounting Standards, Auditing Standards, G...

August 21, 2023 918 Views 0 comment Print

Exposure Draft: International Tax Reform – AS 22 Amendments

CA, CS, CMA : The Accounting Standards Board issues an Exposure Draft of International Tax Reform—Pillar Two Model Rules, proposing Amendments...

July 25, 2023 402 Views 0 comment Print

Exposure Draft on Guidance Note on Financial Statements of LLPs

CA, CS, CMA : As per LLP Act 2008, accounts of Limited Liability Partnership shall be audited in accordance with Rules prescribed under LLP Rule...

February 9, 2023 14121 Views 0 comment Print

Exposure Draft on Guidance Note on Financial Statements of Non-Corporate Entities

CA, CS, CMA : In case of corporate entities, the users or primary users of financial information are shareholders, regulators, potential investo...

February 9, 2023 6648 Views 0 comment Print


Latest Notifications


Indian Government Accounting Standard on Prior Period Adjustments

CA, CS, CMA : The objective of this Standard is to prescribe the manner in which Prior Period Adjustments including errors once identified shall...

March 2, 2023 765 Views 0 comment Print

Companies (Accounting Standards) Rules, 2021

Company Law : MCA has notified Companies (Accounting Standards) Rules, 2021 on 23rd June, 2021. vide this notification has amended definition of...

June 23, 2021 54138 Views 0 comment Print

Companies (Indian Accounting Standards) Second Amendment Rules, 2019

Company Law : These rules may be called the Companies (Indian Accounting Standards) Second Amendment Rules, 2019. They shall come into force on ...

March 30, 2019 3396 Views 0 comment Print

Companies (Indian Accounting Standards) Amendment Rules, 2019

Company Law : GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th March, 2019 G.S.R. 273(E).— In exercise of t...

March 30, 2019 5679 Views 0 comment Print

Companies (Accounting Standards) Amendment Rules, 2018

Company Law : Amendment in Accounting Standard (AS) 11- An enterprise may dispose of its interest in a non-integral foreign operation through sa...

June 18, 2018 5670 Views 0 comment Print


Contingent Liabilities & Assets while Preparing Financial Statements as Per AS, IND AS & IFRS

December 29, 2022 21723 Views 0 comment Print

Understand Contingent Liabilities &amp Assets & how to treat them when preparing Financial Statements as per AS, IND AS & IFRS. Companies (Indian Accounting Standards) Amendments Rules 2021.

What is Impairment Loss? When & why does it occur? Why it’s required to be recorded?

December 7, 2022 3330 Views 0 comment Print

Uncover the intricacies of Impairment Loss in accounting through Ind AS 36. Delve into the objective of the standard, ensuring assets are valued appropriately. Explore how tangible and intangible assets face degradation over time and the significance of recording this in financial statements. Understand the factors contributing to impairment, such as technological changes or disposals.

Points to be considered in Annual Report Preparation of Companies – PART II

December 6, 2022 1479 Views 0 comment Print

Ensure compliance with accounting standards in annual report preparation. Learn about the importance of accurate cash flow statement disclosure.

Points to be considered in Annual Report Preparation of Companies – PART I

November 27, 2022 3864 Views 0 comment Print

Learn about the key points to consider in the preparation of annual reports for companies. Part I focuses on non-compliance related to accounting standards.

Non-Accrual of interest on borrowings by companies in violation of Ind AS

October 20, 2022 6792 Views 1 comment Print

NFRA Circular on Non-Accrual of interest on borrowings by the companies in violation of Indian Accounting Standards (Ind AS) It has come to the attention of the NFRA during  a disciplinary action under section 132(4) of the Act for professional misconduct of the statutory auditor (CA Som Prakash Aggarwal) of a listed company (Vikas WSP […]

Summary of Ind AS-16: Property, Plant And Equipment

October 15, 2022 61254 Views 0 comment Print

Understand Ind AS-16: Property, Plant And Equipment Amendments 2022. Simple insights on recognition, measurement, and disclosures. No major difference with IAS-16.

Non-Compliances of Financial Reporting – Assets (Part-2)

October 6, 2022 1932 Views 0 comment Print

Explore key observations on non-compliances in financial reporting, focusing on assets in part 2. Understand discrepancies and their impact on financial statements.

Common Non-Compliances of Financial Reporting (Part – 1)

October 2, 2022 2118 Views 0 comment Print

Learn about the common non-compliances in financial reporting observed by the Financial Reporting Review Board (FRRB). Part 1: Assets.

Financial Reporting Review Board

September 24, 2022 1965 Views 1 comment Print

Get to know the Financial Reporting Review Board (FRRB) and its objective of improving the overall quality of financial statements.

Exposure Draft of AS 113, Fair Value Measurement

September 19, 2022 825 Views 0 comment Print

Fair value is a market-based measurement, not an entity-specific measurement. For some assets and liabilities, observable market transactions or market information might be available. For other assets and liabilities, observable market transactions and market information might not be available.

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