Tag: icai guidance note
ICAI issue Technical Guide on Internal Audit of Pharmaceutical Industry the Indian pharmaceutical industry is the world’s 13th largest by value and third largest in the world by volume. The pharmaceutical industry in India was valued at an estimated US $42 billion in 2021 and is estimated to …
ICAI Handbook on Pre-packaged Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016 Micro, small, and medium enterprises (MSMEs) contribute significantly to gross domestic product and provide employment to a sizeable population. In view of the COVID-19 pandemic to provide an efficient alternative insolvency resolution process under …
Indian Accounting Standards-An Overview. ICAI releases 6th edition (Revised 2021) The Institute of Chartered Accountants of India (ICAI) has released fifth edition of Indian Accounting Standards (IndAS): An Overview (Revised 2021). The publication gives a glance on the basic aspects of applicable Ind AS in a summarised manner, …
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 Technical Guide on Revised Formats of Long Form Audit Report (LFAR) In bank and bank’s branches audit, the auditors are required to report on certain matters prescribed by the RBI. LFAR is a separate report to be submitted to the bank’s management in the format prescribed by …
ICAI Educational Material on IndAS 105 Non-current Assets Held for Sale & Discontinued Operations ICAI releases Educational Material on IndAS 105, Non-current Assets Held for Sale and Discontinued Operations Ind AS 105 prescribes the accounting treatment for non-current assets held for sale and, and the presentation and disclosure …
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. 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 Handbook on Role of Women Directors in Companies As per the statement given in the Govt., Rajya Sabha as on as on 31.03.2017, 25.01% of the directors on the boards of companies were women directors. Section 149 of the Companies Act 2013 provides that every company shall …
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 …
