Standards applicable to service providers

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Moksha (Querist)
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22 October 2013 Hi,
Can anyone please tell me what are the Accounting Standards and IFRS applicable to service providers like commission agents?

Thanks in advance

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 October 2013 applicability of Accounting standards in not based on the business you are in. It is the nature and quantum of your activities that determine which Accounting Standard is applicable.

For eg, AS 21 won't apply if you are not a holding company!

AS 3 is not applicable if you are not a level I entity.

So you need to analyse your activities to determine the application of AS to your case.

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