If there confliction between companies act and accounting standard for specific transaction which one prevails AS or Companies Act. pls reply
1 Replies
Deepak Gupta
(CA Student)
(15922 Points)
Replied 01 February 2014
| Originally posted by : Bimal Bansal | ||
 |
If there confliction between companies act and accounting standard for specific transaction which one prevails AS or Companies Act. pls reply |  |
Accounting standards cannot override the statute.
.
Accordingly, a requirement of an accounting standard is not applicable to the extent it is in conflict with the requirement of the relevant law.
Recent Topics
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
- NAME CHANGE OF HUF
- Advisory for Reporting TDS Deducted by scrap Deale
- Section 194 J Technical Service/Professional Servi
- Solving of Export Related Problems
- Need your valueble insight.
Related Threads
CAclubindia
