Accounting standards
This query is : Resolved
26 July 2012
What is the difference bwtn Accounting Standards(AS) issued by ICAI and Indian Accounting Standards(Ind AS)?
26 July 2012
In India Accounting standard issuing authority is ICAI. so Accounting standards issued by ICAI will be treated as Indian Accounting standard.
27 July 2012
But Sir, there are 32 AS issued by ICAI where as there are 35 Ind AS and also they are regulated through MCA.
Plz Clarify?
Plz Clarify?
28 July 2012
Yes. In India Accounting Standard issued authority is ICAI.the same shall be approved by Ministry of company affairs. till now the MCA approved 29 Accounting standards please refer the link
https://www.mca.gov.in/Ministry/notification/notification_comp_Acct.html
or visit MCA website. but all the accounting standards are issued by ICAI only.
may be you got confused between the number of standards
Indian accounting standards issued by ICAI, but regulating & approved authority is MCA. once MCA will approve the standards will be mandatory applicable
https://www.mca.gov.in/Ministry/notification/notification_comp_Acct.html
or visit MCA website. but all the accounting standards are issued by ICAI only.
may be you got confused between the number of standards
Indian accounting standards issued by ICAI, but regulating & approved authority is MCA. once MCA will approve the standards will be mandatory applicable
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Last year TDS Claim
- GST Registration Horse racing
- Small dealers gst returns filing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Free lancer income
- Long Term Service award taxability in hands of company
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
