01 June 2010
Standards lay down standards in its raw form. Often we require clarifications or explanations. Guidance notes acts as a guide in such situations.
01 June 2010
we dont have GN ans SA on same topics.First ICAI comes out with Guidance on certain queries or topics in the form of GN.If the issue develops further and requires further clarifications and assume new dimensions ,then AS or SA is brought out.
Consider GN on treatement of expenditure during construction period.The various issues dealt in it were coved more deeply in vaious AS like AS 26,AS 10 etc.Then the GN was withdrawn.
01 June 2010
Please note that guidance notes are not necessarily restricted to Accounting standards. It may relate to any topic of professional interest.
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