Mandatory and Non Mandatory Accounting Standards issued by the ICAI
CA, CS, CMA : Understand the key principles of AS 10 for Property, Plant, and Equipment (PPE), including recognition, cost treatment, depreciati...
SEBI : Failure to comply with accounting standards may violate LODR regulations, affecting financial transparency, director accountabilit...
CA, CS, CMA : Explore illustrative accounting policies for non-company entities as per ICAI standards, covering preparation, revenue recognition...
Income Tax : A guide on Income Computation and Disclosure Standards (ICDS) and its reconciliation with Accounting Standards (AS) for taxable in...
CA, CS, CMA : Learn the accounting treatment for derecognition, retirement, and disposal of PPE under AS 10, including recognition, measurement,...
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...
CA, CS, CMA : The Accounting Standards Board issues an Exposure Draft of International Tax Reform—Pillar Two Model Rules, proposing Amendments...
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...
Coffee Day Enterprises Limited (CDEL) operates in various sectors, including coffee retailing, logistics, financial services, and hospitality. NFRA has issued orders against auditors for alleged financial irregularities. This article discusses the case and the issue of provisioning interest on NPAs.
लेखांकन परंपराएँ:- लेखांकन परंपराएँ जटिल और अस्पष्ट व्यावसायिक लेनदेन के लिए कुछ दिशानिर्देश हैं, हालाँकि यह अनिवार्य या कानूनी रूप से बाध्यकारी नहीं है, फिर भी, ये आम तौर पर स्वीकृत सिद्धांत वित्तीय विवरणों में स्थिरता बनाए रखते हैं। वित्तीय रिपोर्टिंग प्रक्रिया को मानकीकृत करते समय ये संयुक्त रूप से तुलना, प्रासंगिकता, लेनदेन के पूर्ण […]
The Accounting Standards Board issues an Exposure Draft of International Tax Reform—Pillar Two Model Rules, proposing Amendments to AS 22 for deferred tax asset and liability recognition. Comment by August 25, 2023.
Discover the concept of Deferred Tax and its impact on balance sheets and profit and loss accounts. Explore the two approaches used by companies to calculate deferred tax amounts: AS-22 and IND AS-12. Learn how timing differences, such as depreciation, unabsorbed depreciation, MAT credit, and income received in advance, create deferred tax liabilities or assets.
Discover the concept of accounting standards, their purpose, and their role in enabling stakeholders to compare financial data across entities. Explore the global history of accounting standards, including the transition from International Accounting Standards (IAS) to International Financial Reporting Standards (IFRS).
National Financial Reporting Authority (NFRA) issues an order imposing a penalty on CA Gautam Guha of Rupees One Lakh (Rs. 1,00,000) for failure to report the non-compliance of M/s Nicco Uco Alliance Credit Limited with Accounting Standards (AS). The NFRA initiates an investigation into the role of statutory auditors based on irregularities observed in the […]
Companies (Indian Accounting Standards) Amendment Rules 2023 have revamped the accounting for leases, aligning with IndAS 116 and IFRS 16. The amendments introduce changes to lease recognition, measurement, and presentation. The rules cover the objective, scope, and identification of leases, impacting lessees and lessors.
Get a comprehensive guide on auditing and disclosure requirements for trade receivables in AS and Ind AS compliant entities under the Companies Act, 2013. Ensure accurate financial reporting with step-by-step procedures and comply with the latest amendments. Contact us for expert assistance.
Learn the crucial steps to establish and maintain a correct accounting process in your company. From clear policies to ongoing monitoring, ensure accuracy and compliance.
Unlock the complexities of Accounting Standards, Ind AS, and IFRS with our comprehensive overview. Navigate the global standards shaping financial reporting and understand the significance of IFRS in todays interconnected markets. Delve into the Conceptual Framework, Recognition, Measurement, Presentation, and Disclosure principles. Stay informed about the adoption and convergence of Ind AS in India. Explore the latest amendments and modifications to Indian Accounting Standards.
