ICAI issues educational material on Indian Accounting Standard (Ind AS) 8, Accounting Policies, Changes in Accounting Estimates and Errors
According to the ICAI This Educational Material on Ind AS 8, Accounting Policies, Changes in Accounting Estimates and Errors will provide guidance to the stakeholders in understanding the criteria for selecting and changing accounting policies, together with the accounting treatment and disclosure of changes in accounting policies, changes in accounting estimates and corrections of errors.
In the announcement made ICAI has stated that Ind AS 8 is intended to enhance the relevance and reliability of an entity’s financial statements and the comparability of those financial statements over time and with the financial statements of other entities.
The Educational Material on Ind AS 8 covers all relevant aspects envisaged in the Standard by way of brief summary of the Standard and Frequently Asked Questions (FAQs) which are expected to be faced while implementing the Standard.
Penalty u/s 271B is not attracted in a case where books of account have not been maintained In a recent…
NALCO invites RFP for empanelment of Chartered Accountant Firms for verification of Stores/Spares and movable assets. NALCO has invited Request…
Sending or bringing currency of Nepal and Bhutan - RBI revises exiting regulations RBI has notified the Foreign Exchange Management…
Entire manufacturing process though by distinct units relevant for exemption from excise duty on account of manufacture without aid of…
High Court condoned delay in filing Form 10B as the failure was in the 1st Year of operation of the…
Penalty u/s 270A quashed as there was no satisfaction in the penalty order on what exactly was under reporting of…