IASB Exposure Draft on Fair Value Measurement This Exposure Draft on Fair Value Measurement, has been issued by the International Accounting Standards Board keeping in view the following objectives: To establish a single source of gu
A clarification regarding tax treatment of the accounting option is warrantedAuthor : Suresh Surana/DNAIndia has been growing by 8-9% for the past few years and this outstanding growth has resulted in heavy inflow of foreign funds to the country. Man
Frequently Asked Questions on AS 11 notification – Companies (Accounting Standards) Amendment Rules, 2009 (G.S.R. 225 (E) dt. 31.3.09) issued by Ministry of Corporate Affairs ASB Guidance in the form of FAQs on AS 11 notification – Compan
The Council of the ICWAI at its 251st Meeting held on 12-13 February 2009 decided as below:Mandatory application of Cost Accounting Standards“RESOLVED THAT the following Cost Accounting StandardsCAS 1: Classifications of CostsCAS 2: Capacity De
Measures initiated by ICAI for revisiting Accounting Standard (AS) 11, The Effects of Changes in Foreign Exchange RatesCA. Uttam Prakash Agarwal, President, The Institute of Chartered Accountants of India (ICAI) re-iterated the Institute's desire
Accounting Standard-11 relating to “The Effects of Changes in Foreign Exchange Rates” earlier prescribed under the Companies (Accounting Standards) Rules 2006 has been now amended by the Central Government, in terms of the powers conferre
Author : Pallavi Pengonda/DNAReported profits of companies are likely to be better for the quarter ending March following the expected suspension of the revised Accounting Standard 11 (AS 11) mark-to-market (MTM) accounting rule.The National Advis
The Institute of Chartered Accountants of India (ICAI) has issued the first two Accounting Standards for Local Bodies, viz., Accounting Standard for Local Bodies (ASLB) 3, ‘Revenue from Exchange Transactions, and Accounting Standard for Local B
In its endeavors of converging with IASs/IFRSs, the Institute of Chartered Accountants of India (ICAI) has issued an exposure draft of revised Accounting Standard (AS) 3, Statement of Cash Flows on the lines of corresponding IAS 7 for public comments
Exposure Draft of Proposed Improvements to IFRSs - (09-09-2008)The International Accounting Standards Board (IASB) has issued Exposure Draft of Proposed Amendments to International Financial Reporting Standards (IFRSs) as part of its annual improveme
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