As compliance
This query is : Resolved
07 September 2013
What all as is applicable on company having turnover more than 50 crores?
CA. Sunil Kumar
(Expert)
07 September 2013
As the Company is not a SMC
Hence all accounting standard will be applicable to the company as per Section 211(c) of Companies Act,1956
Hence all accounting standard will be applicable to the company as per Section 211(c) of Companies Act,1956
07 September 2013
As on date we have 29 accounting standards. Out of that AS 8 is withdrawn consequent to issuance of AS 26.
Therefore, the company has to check the applicability of the 28 standards and follow which ever is applicable so as to comply with the provisions of section 211(3C) of the Companies Act,1961.
Therefore, the company has to check the applicability of the 28 standards and follow which ever is applicable so as to comply with the provisions of section 211(3C) of the Companies Act,1961.
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