As-15 (revised)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 August 2012
Dear Experts
Our auditor says that since in last FY 2010-11 our turnover crossed 50 crores, we need to obtain Actuary's certificate for Leave Encashment & Gratuity provision for Mar'12. Is it correct. We are a limited closely held co.
What is the applicability criteria for AS-15 (Revised).
Please guide.
Our auditor says that since in last FY 2010-11 our turnover crossed 50 crores, we need to obtain Actuary's certificate for Leave Encashment & Gratuity provision for Mar'12. Is it correct. We are a limited closely held co.
What is the applicability criteria for AS-15 (Revised).
Please guide.
Ankit Varia
(Expert)
11 August 2012
AS 15 applies to the below entities
and is mandatory from 01/04/06
(i) Enterprises whose equity or debt securities are listed whether in
India or outside India.
(ii) Enterprises which are in the process of listing their equity or
debt securities as evidenced by the board of directors’ resolution
in this regard.
(iii) Banks including co-operative banks.
(iv) Financial institutions.
(v) Enterprises carrying on insurance business.
(vi) All commercial, industrial and business reporting enterprises,
whose turnover for the immediately preceding accounting period
on the basis of audited financial statements exceeds Rs. 50 crore.
Turnover does not include ‘other income’.
(vii) All commercial, industrial and business reporting enterprises
having borrowings, including public deposits, in excess of Rs.
10 crore at any time during the accounting period.
(viii) Holding and subsidiary enterprises of any one of the above at
any time during the accounting period.
For more details please refer
https://icai.org/resource_file/257accounting_standards_as15new.pdf
and is mandatory from 01/04/06
(i) Enterprises whose equity or debt securities are listed whether in
India or outside India.
(ii) Enterprises which are in the process of listing their equity or
debt securities as evidenced by the board of directors’ resolution
in this regard.
(iii) Banks including co-operative banks.
(iv) Financial institutions.
(v) Enterprises carrying on insurance business.
(vi) All commercial, industrial and business reporting enterprises,
whose turnover for the immediately preceding accounting period
on the basis of audited financial statements exceeds Rs. 50 crore.
Turnover does not include ‘other income’.
(vii) All commercial, industrial and business reporting enterprises
having borrowings, including public deposits, in excess of Rs.
10 crore at any time during the accounting period.
(viii) Holding and subsidiary enterprises of any one of the above at
any time during the accounting period.
For more details please refer
https://icai.org/resource_file/257accounting_standards_as15new.pdf
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
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
