Accounts News

Exposure Draft of Proposed Improvements to IFRSs

10 September 2008 at 12:04

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

Posted in Accounts | 6243 Views

Changing over from GAAP to IFRS-1: Are we ready yet?

11 August 2008 at 16:29

A single implementation date for the new regime would be desirable, The Institute of Chartered Accountants of India (ICAI) and the Government of India have affirmed

Posted in Accounts | 1 comments | 12333 Views

GAAP: a Game All Accountants Play

06 August 2008 at 11:48

June quarter has seen a host of companies adjusting profits, In the quarter ended June 30, 2008, Jet Airways declared a net profit of Rs 143 crore.

Posted in Accounts | 5 comments | 14250 Views

Is India Inc ready for IFRS?

14 June 2008 at 11:39

India is among 150-odd countries that have decided to adopt IFRS from 2011 onwards, Come 2011 and India Inc will experience drastic changes in the way financial statements are reported.

Posted in Accounts | 11247 Views

ICAI council Approves Accounting Standard (AS) 32,

19 May 2008 at 16:49

The Council of the Institute has approved Accounting Standard (AS) 32, Financial Instruments: Disclosures. The objective of this Accounting Standard is to require entities to provide disclosures in their financial statements to enable users to evalua

Posted in Accounts | 18036 Views

Notification on AS by CG under Companies Act

16 May 2008 at 10:46

The Government recognises the importance of financial reporting in providing essential financial information about the company to its shareholders and other stakeholders, as an integral and important part of good corporate governance. Such informatio

Posted in Accounts | 9645 Views

ICAI Board Okays AS-32

02 May 2008 at 16:23

ICAI BOARD OKAYS AS-32 The ICAI’s Accounting Standards Board (ASB) has cleared the proposed accounting standard on disclosure of ‘financial instruments’ (AS-32). This standard would now be considered for final approval by

Posted in Accounts | 5859 Views

'SARAL' format for small cos soon

05 April 2008 at 10:16

'SARAL' format for small cos soonNew Delhi April 4, 2008Small-and medium-sized companies (SMCs) may soon have a `SARAL' format for disclosing their financial statements. For ensuring better compliance by all categories of companies with disclosure no

Posted in Accounts | 9618 Views

ICAI to launch a new course

04 April 2008 at 19:47

Dear All, New Delhi, Apr 3 Spurred by a huge demand from the industry, especially from the IT-enabled services, the Institute of Chartered Accountants of India (ICAI) has decided to launch a 15-month “accounting technician” course fr

Posted in Accounts | 5 comments | 24987 Views

ACCOUNTING FOR DERIVATIVES

31 March 2008 at 00:56

Certain issues have been raised with regard to the foreign currency derivative exposures of various corporates that are not being fully accounted for. These exposures may translate into heavy losses due to fluctuations in the foreign exchan

Posted in Accounts | 3 comments | 20466 Views