Tag: Guidance Note ICAI

ICAI issues Guidance Note on Accounting for Derivative Contracts

ICAI issues Guidance Note on Accounting for Derivative Contracts ICAI has formulated a ‘Guidance Note on Accounting for Derivative Contracts’ for uniform accounting principles for accounting of derivative contracts. The Guidance Note provides guidance on accounting for financial and commodity derivative contracts consistent with the extant international practices. …

ICAI Guidance Note on Audit of Banks, 2021 Edition

ICAI Guidance Note on Audit of Banks 2021 Edition ICAI has issued 2021  edition of the Guidance Note on Audit of Banks. The revised 2021 edition incorporates the impact of the various circulars of the Reserve Bank of India as well as certain important advisories, pronouncements of the …

ICAI Guidance Note on Accounting by E-commerce Entities

ICAI Guidance Note on Accounting by E-commerce Entities. In view of increased number of online transactions for buying and selling of products / services, ICAI has revised its ‘Guidance Note on Dot-Com companies’ as the ‘Guidance Note on Accounting by E-commerce Entities’. This revised Guidance note deals with …

ICAI Guidance Note on Accrual basis of accounting 2021

ICAI Guidance Note on Accrual basis of accounting 2021. The importance of Accrual basis of accounting assumes importance as one of the fundamental accounting assumption for preparing and presenting the financial statement is ‘Accrual’. The Institute of Chartered Accountants of India (ICAI) through its Research Committee has issued …

ICAI Hand book / Guidance Note on Audit of CSR Activities

ICAI Hand book on Audit of CSR Activities Under the provisions of section 135 of the Companies Act 2013 its is mandatory for Companies to take up Corporate Social Responsibility (CSR) projects on various social welfare activities provided and/or notified by MCA. ICAI Hand book on Audit of …

Accounting for Share-based Payments – ICAI Guidance Note

Accounting for Share-based Payments – ICAI Guidance Note  In an equity-settled share-based payment, the employer company offers equity shares (including share options) as consideration in lieu of services of the employees.  In India large number of entities in India are involved in share-based payment transactions.  Such payments are …

ICAI Technical Guide on Accounting for Expenditure on CSR Activities

ICAI Technical Guide on Accounting for Expenditure on CSR Activities ICAI has released the Technical Guide on Accounting for Expenditure on Corporate Social Responsibility Activities on 1st July, 2020. This Technical Guide provides guidance on accounting for expenditure on CSR activities in accordance with the requirements of the …

Judicial Pronouncements under IBC 2016-3rd Series by ICAI.

Judicial Pronouncements under IBC 2016 – 3rd Series by ICAI. The latest judgment incorporated in the publication is dated 03.12.2019.  ICAI has released its third series of Judicial Pronouncements under IBC 2016. The Series 1 and Series 2 of the publication were earlier published.  The latest judgment incorporated …