accounting standards in brief

News

Accounting code for payment of Krishi Kalyan Cess


Circular No 194 04 2016 ST F No 354 31 2016 TRU Government of India Ministry of Finance Department of Revenue Tax Research Unit To Principal Chief Commissioners of Customs and Central Excise All Princ

Full Story

New and revised standards on auditing


Revised SA 700 Forming an Opinion and Reporting on Financial Statements New SA 701 Communicating Key Audit Matters in the Independent Auditors Report Revised SA 705 Modifications to the Opinion in the

Full Story

Road Map for implementation of Indian Accounting Standards


The Road Map for implementation of Indian Accounting Standards Ind AS for commercial Banks Banks Insurance Companies Insurers and Non Banking Financial Companies NBFCs was announced on 18 01 2016 and

Full Story

Applicability of Accounting Standards amended by MCA


Applicability of Accounting Standards amended by MCA vide Notification dated March 30 2016 1 The Ministry of Corporate Affairs Government of India vide Notification No G S R 739 E dated 7th December 2

Full Story

Mrs Aruna Sethi appointed as head of Indian cost accounting service


Mrs Aruna Sethi ICoAS 1985 Principal Adviser Cost took over the charge of Indian Cost Accounts Service ICoAS as head on 1st February 2016 She is the first lady ICoAS officer who has achieved this laur

Full Story

More News

Experts Opinions

Fd interest calculation & accounting entry in tally


Dear Sir Madam how to calculate FD bank interest accounting treatment in balance sheet P L what is bank interest entry Bank interest certificate needed for accounting

Read Expert Opinion

Accounting and audit of telecom distributors.


Dear sir madam My client is a telecom distributor who has many sources of income like 1 Sale of e recharge flexi or talk time Under this he does a neft or rtgs of rs 100000 to the co The co Transfers

Read Expert Opinion

Accounting treatment for eefc a/c transactions - as 11


Here is an Example Professional Fees earned by my client in currency other than reporting currency Invoice dated 27 08 2016 amounting 9000 Exchange currency rate 65 same amount is deposited in my clie

Read Expert Opinion

Tcs accounting


How to account TCScollected from the buyer as per the new rule w e f 01 06 2016

Read Expert Opinion

Re- e-commerce accounting


Hello I have one query regarding e commerce business one of our group of companies is e commerce i e they are selling baby products online through there own website as well as from other websites also

Read Expert Opinion

Discussion

Chit fund accounting & auditing

I am accounting for a chit fund company Whether discounting done at auction will be treated as income of the company If yes will dividend distribution out of such discounting be treated as expense or

Read full discussion

Cost accounting of granite

Hi We are facing a problem with accounting of Granite Blocks quantity The problem is that how to account the excess quantity of material received free of cost which is some times usable or a waste We

Read full discussion

Accounting treatment of nbfc for assets and provision

SIR I PLZ HELP FOR HOW WE MAKE PROVISION FOR ASSETS OF NBFCAND ACCOUNTING TREATMENT ALSO AND PROVISION RATE

Read full discussion

Accounting treatment of foc voucher

My company purchases Fixed asset Heavy Vehicles from X Ltd against which we recieve FOC vouched worth Rs 5 lacs which can be redeemed against spare parts purchase from its agent Y Ltd We have been pur

Read full discussion

Accounting stds. for ca final nov. 2016

How to prepare Accounting Standards for November 2016 CA Final Exams Significance of Indian Accounting standards from exam point of view Should May 16 exam pattern of ICAI be continued in which they a

Read full discussion


More Messages




File Download

  • A note on GST

    brief introduction of GST

    Download

  • A note on krishi Kalyan Cess

    A brief on new levy of Krishi kalyan cess

    Download

  • NCLT Covered Sections

    A brief list on NCLT covered sections

    Download

  • IND AS 23-Borrowing Costs

    Borrowing costs that are directly attributable to the acquisition construction or production of a qualifying asset form part of the cost of that asset Other borrowing costs are recognised as an expense An entity shall apply this Standard in accounting for borrowing costs The Standard does not deal with the actual or imputed cost of equity including preferred capital not classified as a liability

    Download

  • IND AS 20-Accounting for Government Grants and Disclosure of Government Assistance

    This Standard shall be applied in accounting for and in the disclosure of government grants and in the disclosure of other forms of government assistance

    Download


More Files

Articles

Standards on Auditing - Not a choice but a compulsion


What are Auditing Standards The Standards on Auditing is an area which requires greater focus of CA in practice as well as our administrative bodies who are updating our members The Companies Act 2013


Full Article

Ind AS - IFRS Converged Accounting Standards applicable to India


On 16th February 2015 the Ministry of Corporate Affairs MCA has notified Companies Indian Accounting Standard Rules 2015 for applicability of Indian Accounting Standards Ind AS which shall come into f


Full Article

Income Computation and Disclosure Standards


Income Computation Disclosure Standards ICDSs ICDSs vis vis AS and ICDSs vis vis Judicial Rulings There are significant deviations between the notified ICDSs Accounting Standards Judicial Rulings whic


Full Article

Hedge Accounting as per IND-AS


Purpose of the Article Hedge accounting is a method of accounting where entries for the ownership of a security and the opposing hedge are treated as one Hedge accounting attempts to reduce the volati


Full Article

IND-AS, Indian Accounting Standards


Indian Accounting Standards OBJECTIVEThe basic objective of Accounting Standards is to remove variations in the treatment of several accounting aspects and to bring about standardization in presentati


Full Article

More Articles


Updated on : 6/7/2016 8:55:25 PM


close x