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Accounting standard

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 July 2012 Can any one tell me the Accounting Standard which are applicable on companies are notified by NACAS(National Advisiory Committee on Accounting Standard)so while giving the reference of Accounting Standard in financial statement by company,the companies gives reference of ICAI instead of NACAS. e.g As per Accounting Standard 7 of ICAI.Why???

Plz rply as early as possible.
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aadish

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aadish (Expert)
31 July 2012 Because all the AS are issued by ICAI, and NACAS is a statutory body who just notified.
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SANYAM ARORA

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SANYAM ARORA (Expert)
31 July 2012 Agree with the reply
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