Tag: IndAS
SEBI issues Guidelines on Accounting as per IND AS of Mutual Funds Schemes SEBI vide notification dated January 25, 2022 had amended SEBI (Mutual Funds)Regulations, 1996(MF Regulations), which,inter-alia, mandated that the Asset Management Companies (AMCs) shall prepare the Financial Statements and Accounts of the Mutual Fund Schemes in …
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, …
The Companies (Indian Accounting Standards) Amendment Rules, 2021. Ministry of Corporate Affairs has notified the Companies (Indian Accounting Standards) Amendment Rules, 2021 to further amend the Companies (Indian Accounting Standards) Rules, 2015. The amendment shall become effective from 18th June 2021. The following Indian Accounting Standards ( Ind …
ICAI FAQs on Accounting for amounts to be incurred towards CSR pursuant to Companies (CSR Policy) Amendment Rules 2021 The Accounting Standards Board of the Institute of Chartered Accountants of India (ICAI) has issued the following FAQ: Frequently Asked Question on Accounting for amounts to be …
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 Applicability of AS 25 and Measurement of Income Tax Expense for Interim Financial Reporting ICAI Guidance Note – Applicability of AS 25 & Measurement of Income Tax Expense for Interim Financial Reporting ICAI has issued a combined Guidance Note revising its previous Guidance notes …
The Companies (Indian Accounting Standards) Amendment Rules, 2020 The Ministry of Corporate Affairs has notified the Companies (Indian Accounting Standards) Amendment Rules, 2020. The Rules amend the Companies (Indian Accounting Standards) Rules, 2015. Amendments have been made to the following IndAS notified so far: IndAS 1 related to …
RBI frames regulatory guidance on Implementation of IndAS by NBFCs/ARCs Non-Banking Financial Companies (NBFCs) covered by Rule 4 of the Companies (Indian Accounting Standards) Rules, 2015 are required to comply with Indian Accounting Standards (Ind AS) for the preparation of their financial statements. In order to promote a …
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 …
ICAI Quick Referencer on IndAS. It provides glance on basic aspects of applicable standards ICAI Quick Referencer on IndAS Literature of the Indian Accounting Standards (IndAS) is vast and going through the entire literature when in need of a particular aspect is a practical problem. Taking cognizance of …