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New Accounting Standards

ROHIT CHATURVEDI (CA Final Student ) (2298 Points)

15 January 2011

hey friends india mein IAS aane wale the phir ye Final Indian Accounting Standards kya hain jiski list ki ICAI ne declararation di hai

follow this link:

https://www.icai.org/new_post.html?post_id=6856&c_id=219

thanks in advance

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23 Replies

CS LLB Pulkit Gupta (https://www.facebook.com/pages/Life-and-Promises/553962034682487) (16631 Points)
Replied 15 January 2011

Rohit dekhke btata hoon...

1 Like

CS LLB Pulkit Gupta (https://www.facebook.com/pages/Life-and-Promises/553962034682487) (16631 Points)
Replied 15 January 2011

Rohit According to me ab due to convergence with IFRS jo AS adopt hoonge uska naam Indian Accounting Standard hoga. Ye near finalization vo standards hai jo ICAI National Advisory Committee on Accounting Standards (NACAS) ko bhejegi before they are adopted as IAS.

3 Like

Manmohan ACA, CS (Chartered Accountant ) (14243 Points)
Replied 15 January 2011

These are the standards which will be applicable to specified Companies only by the virtue of section 211(3C), after they are approved by National Advisory Committee on Accounting Standards (NACAS) . The first set of Accounting Standards (i.e. converged accounting standards) will be applied from 1st April, 2011..... These companies are:-

a. Companies which are part of NSE – Nifty 50

b. Companies which are part of BSE - Sens*x 30

c. Companies whose shares or other securities are listed on stock exchanges outside India

d. Companies, whether listed or not, which have a net worth in excess of 1,000 crores.

2 Like

Hardik Dave (IPCC and CS Professional(FINAL) Student) (15533 Points)
Replied 15 January 2011

Originally posted by : Manmohan
	These are the standards which will be applicable to specified Companies only by the virtue of section 211(3C), after they are approved by National Advisory Committee on Accounting Standards (NACAS) . The first set of Accounting Standards (i.e. converged accounting standards) will be applied from 1st April, 2011..... These companies are:- a. Companies which are part of NSE – Nifty 50 b. Companies which are part of BSE - Sens*x 30 c. Companies whose shares or other securities are listed on stock exchanges outside India d. Companies, whether listed or not, which have a net worth in excess of 1,000 crores.

1 Like

CMA. CS. Sanjay Gupta ("PROUD TO BE AN INDIAN") (114215 Points)
Replied 15 January 2011

Thanks Rohit for this information.......

1 Like

ROHIT CHATURVEDI (CA Final Student ) (2298 Points)
Replied 15 January 2011

@ manmohan: Thanks a lot for giving this valuable information

Manmohan ACA, CS (Chartered Accountant ) (14243 Points)
Replied 15 January 2011

Originally posted by : ROHIT CHATURVEDI
	@ manmohan: Thanks a lot for giving this valuable information

welcome

Rahul Sharma (Student + A.M.- Finance) (2530 Points)
Replied 15 January 2011

Originally posted by : CMA. Sanjay Gupta
	Thanks Rohit for this information.......

1 Like

SUNNY (CA Final & CS Professional) (327 Points)
Replied 15 January 2011

thanks pulkit bhai for this.............

1 Like

Vikas Gupta (CHARTERED ACCOUNTANT) (16295 Points)
Replied 15 January 2011

Originally posted by : CMA. Sanjay Gupta
	Thanks Rohit for this information.......

1 Like

(Guest)

thanx a lot fr info!! had d same doubt wen i was reading abt IFRS!

1 Like

sahil schroff (CA Final (N10)) (116 Points)
Replied 16 January 2011

Is this relevant for May 2011 group 1 exam point of view or not?

1 Like

ROHIT CHATURVEDI (CA Final Student ) (2298 Points)
Replied 16 January 2011

Originally posted by : sahil schroff
	Is this relevant for May 2011 group 1 exam point of view or not?

no idea of icai notification regarding this

sahil schroff (CA Final (N10)) (116 Points)
Replied 16 January 2011

Well I hope not! We'll find out in Feb Or March students newsletter I guess. How sweet of them to keep us in the dark! How are we supposed to plan our studies along with their promised major changes to the "study material"??! : @

1 Like