Accounting Standards
This query is : Open
29 June 2011
Dear Sir,
Whenever there is a conflict between the Accounting Standards issued by ICAI, statute and Revised schedule VI, which one should be followed in priority.
Whenever there is a conflict between the Accounting Standards issued by ICAI, statute and Revised schedule VI, which one should be followed in priority.
29 June 2011
Provisions of Schedule VI will prevail over Accounting Standard
30 June 2011
Hi,
First of all let me clarify that statute here is referred to Companies Act 1956.
And I hv been told by my A/c's teacher that prority should be as follows:
1.AS
2.Co. Act 1956
3.Revised Shcedule VI
If you can validate your answer with some reference, please.
First of all let me clarify that statute here is referred to Companies Act 1956.
And I hv been told by my A/c's teacher that prority should be as follows:
1.AS
2.Co. Act 1956
3.Revised Shcedule VI
If you can validate your answer with some reference, please.
30 June 2011
Accounting Standard will prevail over Provisions of 'Revised Schedule VI'
i didnt see the word revised in your quest,,
i didnt see the word revised in your quest,,
01 July 2011
Sir,
kindly give some refference regarding this matter,to validate this answer.
Their is a long discussion going on this issue among my colleagues.
kindly give some refference regarding this matter,to validate this answer.
Their is a long discussion going on this issue among my colleagues.
01 July 2011
http://www.primeacademy.com/murugappa-prime-scheduleVI-vt.pdf
GREEN COLOUR TEXT ARE NEW PROVISIONS
GREEN COLOUR TEXT ARE NEW PROVISIONS
04 July 2011
Sir,
what about the Co.Act 1956, where does it ranks.
what about the Co.Act 1956, where does it ranks.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Sale of property furniture sale
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
