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Reinstating Fair Value Option (Amendments to Ind AS 40, Investment Property)

June 12, 2018 1287 Views 0 comment Print

Following is the Exposure Draft of changes proposed in Ind AS 40, Investment Property, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments.

Long-term Interests in Associates and Joint Ventures (Amendments to Ind AS 28)

June 12, 2018 690 Views 0 comment Print

Following is the Exposure Draft of Long-term Interests in Associates and Joint Ventures (Amendments to Ind AS 28) issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments.

Prepayment Features with Negative Compensation (Amendments to Ind AS 109, Financial Instruments)

June 12, 2018 984 Views 0 comment Print

Following is the Exposure Draft of Amendments to Ind AS 109, Financial Instruments, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India for comments.

Plan Amendment, Curtailment or Settlement (Amendments to Ind AS 19, Employee Benefits)

June 12, 2018 1158 Views 0 comment Print

Following is the Exposure Draft of the Amendments to Ind AS 19, Employee benefits, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India for comments.

Annual Improvements to Ind AS (2018) (Corresponding to Annual Improvements to IFRS Standards 2015–2017 Cycle issued by IASB)

June 12, 2018 948 Views 0 comment Print

Following is the Exposure Draft of Annual Improvements to Ind AS (2018) issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments.

List of Indian Valuation Standards effective from 1st July, 2018

June 11, 2018 4038 Views 0 comment Print

Indian Valuation Standards as issued by ICAI effective for the valuation reports issued on or after 1st July, 2018 The Institute of Chartered Accountants of India (ICAI) issues Valuation Standards as a benchmark for Valuation Practices applicable for Chartered Accountants Recognising the need to have the consistent, uniform and transparent valuation policies and harmonise the […]

Standard on Auditing (SA) applicable for Financial Year 2017-18 & 2018-19

June 11, 2018 29565 Views 1 comment Print

This Article explains Standard on Auditing (SA) which are applicable for Audit of Financial Year 2017-18 and Financial year 2018-19.

The IBC (Amendment) Ordinance, 2018 and the Homebuyer

June 10, 2018 1209 Views 0 comment Print

The new IBC (Amendment) Ordinance, 2018 equates an allottee of a real estate project to be a person having a commercial effect of borrowing. He is now treated as financial creditor. He can initiate a corporate insolvency for a resolution against the errant developer.

Facebook to explain over reports of data sharing without consent

June 9, 2018 783 Views 0 comment Print

Recently there are media reports claiming that Facebook has agreements which are allowing phone and other device manufacturers’ access to its users’ personal information, including that of their friends without taking their explicit consent. The Government of India is deeply concerned about reports of such lapses / violations.

CBDT dedicates fortnight for pending appeal effect – rectification matters

June 9, 2018 1368 Views 2 comments Print

Redressal of public grievances and taxpayer service is an area of top priority for the CBDT and the Income Tax Department. In this connection, a fortnight from 1st June to 15th June, 2018 has been dedicated for expeditious disposal of pending appeal effect and rectification matters.

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