Difference between corporate and non corporate entities
This query is : Resolved
30 January 2015
dear sir
what is the difference between corporate entities and non corporate entities .
what is the difference between corporate entities and non corporate entities .
30 January 2015
corporates are those who are company registered either under co act 1956 or under 2013.
all other entities are non corporate entities.
all other entities are non corporate entities.
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30 January 2015
sir why accounting standards apply to non corporate entities only?
30 January 2015
Accounting standards are applicable only to Corporate Entities not to non corporate Entities.
30 January 2015
even if small proportion of activities of non corporate entities are having any business aspect then all applicable accounting standard shall also apply to non corporate entities.
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30 January 2015
Can you please refer any clarification/notification for the same.
30 January 2015
http://mhrd.gov.in/sites/upload_files/mhrd/files/document-reports/Report_IASEI_0.pdf
refer page 4 in link just above the point no 2 background in this link.
this link says even if small proportion of activities of non profit organisation has business activites then it is applicable.
refer page 4 in link just above the point no 2 background in this link.
this link says even if small proportion of activities of non profit organisation has business activites then it is applicable.
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30 January 2015
Tushar Sir, Thanks a lot for sharing this link.
03 February 2015
You are welcome navin.............
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