Tag: Guidance Note ICAI
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 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 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 Multiple Choice Questions (MCQs) on Guidance Note on CARO 2020 The Ministry of Corporate Affairs issued the Companies (Auditor’s Report) Order, 2020 (CARO 2020) on 25th February 2020 which was initially applicable for the financial years commencing on or after the 1st April, 2019. However, due to …
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. 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 …
ICAI releases Guidance Note on “Subsequent Events –Key Audit Considerations amid COVID-19” ICAI has released an Auditing Guidance on “Subsequent Events –Key Audit Considerations amid COVID-19” for the benefit of the members. The guidance note highlights the key areas where focus is desired due to Covid-19 pandemic on …
ICAI Guidance Note and FAQ on Going Concern Key Considerations for Auditors amid COVID-19. The going concern concept is a fundamental principle of accounting. It assumes that an entity will remain in business for the foreseeable future. An entity is assumed to be a going concern in the absence …
ICAI issues an addendum and revises its Guidance Note on Audit of Banks 2020 Edition ICAI issues Addendum to Guidance Note on Audit of Banks, 2020 Edition ICAI, in view of the RBI circular no. RBI/2019-20/186DOR.No.BP.BC.47/21.04.048/2019-20 dated March 27, 2020 and RBI Circular dated 17th April, 2020 …
ICAI Guide and FAQ on Indian Accounting Standards 20, Accounting for Government Grants and Disclosure of Government Assistance Educational Material on Indian Accounting Standards 20 The Ministry of Corporate Affairs (MCA) vide its notification dated 16th February, 2015 notified Ind AS 20, Accounting for Government Grants and Disclosure …
