accounting standards in brief


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

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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

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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

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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

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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

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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

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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

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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

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Tcs accounting

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

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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

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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

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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

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Accounting treatment of nbfc for assets and provision


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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

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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

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  • A note on GST

    brief introduction of GST


  • A note on krishi Kalyan Cess

    A brief on new levy of Krishi kalyan cess


  • NCLT Covered Sections

    A brief list on NCLT covered sections


  • 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


  • 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


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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

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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

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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

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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

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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

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

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