Accounts News

Ind AS 116, Leases - A New Era of Accounting for Lease contracts by Lessees

01 April 2019 at 22:49

In the larger interest of the Indian economy and industries, the ICAI always endeavours to ensure that Indian Accounting Standards (Ind AS) Framework remains converged at all time with globally acceptable IFRS Standards. The ICAI continuously monitor

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Ind AS applicable from 1st April 2019

01 April 2019 at 11:37

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,SECTION 3, SUB-SECTION (i)]GOVERNMENT OF INDIAMINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 30th March, 2019G.S.R��. (E).� In exercise of the power

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Ind AS 116 on Leases applicable from 1st April,2019

30 March 2019 at 11:44

The stakeholders may note that Ind AS 116, Leases shall be applicable with effect from 01st April, 2019 and necessary notification for the same shall be issued in due course after complying with the necessary procedure.http://www.mca.gov.in/

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RFP by Insolvency board for appointment of accounting support and related services

11 March 2019 at 11:29

1 INTRODUCTIONa. The Insolvency and Bankruptcy Board of India was established on 1st October, 2016 under the Insolvency and Bankruptcy Code, 2016 (Code). It is a key pillar of the ecosystem responsible for implementation of the Code that consolidates

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Exposure draft of ASLB 23, 'Revenue from Non-Exchange Transactions (Taxes and Transfers)

17 August 2018 at 11:27

The Committee on Accounting Standards for Local Bodies (CASLB) has been formulating Accounting Standards for Local Bodies (ASLBs) since March, 2005. So far, the Committee has issued fifteen ASLBs. Moving forward in this

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Indian Accounting Standards(Ind AS) an overview ebook

04 July 2018 at 11:04

This edition contains an overview of various aspects related to IFRS-converged Indian Accounting Standards (Ind AS) such as roadmap for the applicability of Ind AS, carve-outs from IFRS/IAS, changes in financial reporting under Ind AS compared to fin

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ICAI issues Accounting Standard for Local Bodies

30 May 2018 at 16:20

The Committee on Accounting Standards for Local Bodies (CASLB) is formulating Accounting Standards for Local Bodies (ASLBs) since March, 2005 to improve financial reporting for local bodies. So far, the Committee has issued thirteen ASLBs including o

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FAQ on IndAS by ITFG

06 April 2018 at 11:22

Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 15Ind AS Transition Facilitation Group (ITFG) of Ind AS Implementation Group has been constituted for providing clarifications on timely basis on various issues related to the applica

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Issuance of New Revenue Standard Ind AS 115

31 March 2018 at 12:22

An important development in Ind AS Framework i.e. a new Ind AS in the area Revenue recognition has been notified by Ministry of Corporate Affairs which was formulated based on recommendation made by The Institute of Chartered Accountants of India.The

Posted in Accounts | 1 comments | 6162 Views

ICAI group for examining SC judgement on MNC accounting firms

28 March 2018 at 10:41

No.M-626/08/MAF&PWC/2018 ALL MEMBERS OF THE COUNCILMadam/Dear Sir,Sub.: Constitution of a Group to examine the issues arising out of the Judgement dated 23.02.2018 of the Hon’ble Supreme Court in the matter of operation of Multinational A

Posted in Accounts | 1 comments | 4470 Views