Standards applicable to service providers
This query is : Resolved
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
Can anyone please tell me what are the Accounting Standards and IFRS applicable to service providers like commission agents?
Thanks in advance
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.
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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