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Difference between corporate and non corporate entities

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30 January 2015 dear sir

what is the difference between corporate entities and non corporate entities .

30 January 2015 corporates are those who are company registered either under co act 1956 or under 2013.

all other entities are non corporate entities.

30 January 2015 sir why accounting standards apply to non corporate entities only?




30 January 2015 Accounting standards are applicable only to Corporate Entities not to non corporate Entities.

30 January 2015 even if small proportion of activities of non corporate entities are having any business aspect then all applicable accounting standard shall also apply to non corporate entities.

30 January 2015 Can you please refer any clarification/notification for the same.

30 January 2015 http://mhrd.gov.in/sites/upload_files/mhrd/files/document-reports/Report_IASEI_0.pdf

refer page 4 in link just above the point no 2 background in this link.

this link says even if small proportion of activities of non profit organisation has business activites then it is applicable.

30 January 2015 Tushar Sir, Thanks a lot for sharing this link.




03 February 2015 You are welcome navin.............



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