Applicability of acconting standards - very urgent
This query is : Resolved
24 July 2012
Hi,
If in any Company AS-3 Cash flow and AS-20 Earning per share
were not applicable as per old schedule VI because it doesnot satisfy the condition required for preparing Cashflow and EPS, is the company under obligation to adhere with AS-3 and AS-20 as per revised schedule VI even if the conditions mentioned in the relevant AS is not satisfied.
If the relevant AS is not applicable does it require any disclosure in notes to accounts.
Thanks in advance
If in any Company AS-3 Cash flow and AS-20 Earning per share
were not applicable as per old schedule VI because it doesnot satisfy the condition required for preparing Cashflow and EPS, is the company under obligation to adhere with AS-3 and AS-20 as per revised schedule VI even if the conditions mentioned in the relevant AS is not satisfied.
If the relevant AS is not applicable does it require any disclosure in notes to accounts.
Thanks in advance
24 July 2012
Accounting standards will precide over revised schedule VI requirements. It is part of its preface.
Thus if the standards were not applicable in old schedule VI, it will continue to be not applicable even under Revised Schedule VI, unless it falls into those particular standards.
Thus if the standards were not applicable in old schedule VI, it will continue to be not applicable even under Revised Schedule VI, unless it falls into those particular standards.
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
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
