Accounts News

Notification on AS by CG under Companies Act

16 May 2008 at 10:46

The Government recognises the importance of financial reporting in providing essential financial information about the company to its shareholders and other stakeholders, as an integral and important part of good corporate governance. Such informatio

Posted in Accounts | 9795 Views

ICAI Board Okays AS-32

02 May 2008 at 16:23

ICAI BOARD OKAYS AS-32 The ICAI’s Accounting Standards Board (ASB) has cleared the proposed accounting standard on disclosure of ‘financial instruments’ (AS-32). This standard would now be considered for final approval by

Posted in Accounts | 5964 Views

'SARAL' format for small cos soon

05 April 2008 at 10:16

'SARAL' format for small cos soonNew Delhi April 4, 2008Small-and medium-sized companies (SMCs) may soon have a `SARAL' format for disclosing their financial statements. For ensuring better compliance by all categories of companies with disclosure no

Posted in Accounts | 9750 Views

ICAI to launch a new course

04 April 2008 at 19:47

Dear All, New Delhi, Apr 3 Spurred by a huge demand from the industry, especially from the IT-enabled services, the Institute of Chartered Accountants of India (ICAI) has decided to launch a 15-month “accounting technician” course fr

Posted in Accounts | 5 comments | 25074 Views

ACCOUNTING FOR DERIVATIVES

31 March 2008 at 00:56

Certain issues have been raised with regard to the foreign currency derivative exposures of various corporates that are not being fully accounted for. These exposures may translate into heavy losses due to fluctuations in the foreign exchan

Posted in Accounts | 3 comments | 20604 Views

Supreme Court UPHELDS AS 22

21 November 2007 at 08:04

Apex court upholds new accounting standardsNew Delhi November 21, 2007The Supreme Court has upheld the revised accounting standards AS 22 issued by the Institute of Chartered Accountants of India which has been made mandatory for all the companies li

Posted in Accounts | 2 comments | 15027 Views

Option to an entity to adopt alternative treatment in AS 15 - by ICAI

06 November 2007 at 21:58

An amendment by way of limited revision to Accounting Standard (AS) 15, Employee Benefits (revised 2005), has been made with a view to provide, inter alia, an option to an enterprise to charge additional liability arising upon the first application o

Posted in Accounts | 9330 Views

ICAI comes out with new Accounting Standard

15 October 2007 at 15:05

Corporates houses, banks and financial institutions have got just 18 months to begin the changeover to a new set of transparency, inducing accounting standards that will have a major impact on their financial statements. The new norms to classify, va

Posted in Accounts | 10215 Views

ICAI to clarify AS for real estate co's-SEBI!!

14 October 2007 at 14:47

The Securities and Exchange Board of India (Sebi) has asked the Institute of Chartered Accountants of India (ICAI) to clarify the accounting standards that real estate companies have to follow.The capital market regulator has noticed that different r

Posted in Accounts | 5160 Views

Change in Accounting mode for municipalities!!

29 September 2007 at 12:15

Statesman News Service"The accounting procedures of all the municipalities should change from the existing single entry system to a double entry mercantile system, and even the government ought to switch over to the practice," said Mr Sunil Talati, p

Posted in Accounts | 4110 Views