Accounts News

Joint meeting on implementation challenges of IFRS

07 August 2009 at 11:14

Joint meeting of the Core Group and the two sub-groups on the implementation challenges with regard to convergence of Indian Accounting Standards with IFRS expresses confidence in the issuance of the roadmap at an early date for convergence to enable

Posted in Accounts | 1 comments | 7890 Views

IASB Exposure Draft on Management Commentary

15 July 2009 at 16:55

IASB Exposure Draft on Management CommentaryThe International Accounting Standards Board (IASB) has issued Exposure Draft on type of disclosure labelled Management Commentary with the objective of determining whether the framework for the preparation

Posted in Accounts | 4902 Views

NBFCs -Treatment of Deferred Tax Assets/Deferred Tax Liabilities

10 June 2009 at 12:29

NBFCs - Treatment of Deferred Tax Assets/Deferred Tax Liabilities for Computaion of CapitalRBI/2008-09/494DNBS.PD/ CC.No. 142 / 03.05.002 /2008-09June 9, 2009All NBFCsDear Sir,Accounting for taxes on income- Accounting Standard 22- Treatment of defer

Posted in Accounts | 2 comments | 25185 Views

IASB Exposure Draft on Fair Value Measurement

06 June 2009 at 13:53

IASB Exposure Draft on Fair Value Measurement This Exposure Draft on Fair Value Measurement, has been issued by the International Accounting Standards Board keeping in view the following objectives: To establish a single source of gu

Posted in Accounts | 8499 Views

AS 11 will prevent forex-led distortions

22 May 2009 at 13:11

A clarification regarding tax treatment of the accounting option is warrantedAuthor : Suresh Surana/DNAIndia has been growing by 8-9% for the past few years and this outstanding growth has resulted in heavy inflow of foreign funds to the country. Man

Posted in Accounts | 10 comments | 16803 Views

Frequently Asked Questions on AS 11

18 May 2009 at 16:02

Frequently Asked Questions on AS 11 notification – Companies (Accounting Standards) Amendment Rules, 2009 (G.S.R. 225 (E) dt. 31.3.09) issued by Ministry of Corporate Affairs ASB Guidance in the form of FAQs on AS 11 notification – Compan

Posted in Accounts | 1 comments | 19014 Views

Mandatory application of Cost Accounting Standards

24 April 2009 at 14:13

The Council of the ICWAI at its 251st Meeting held on 12-13 February 2009 decided as below:Mandatory application of Cost Accounting Standards“RESOLVED THAT the following Cost Accounting StandardsCAS 1: Classifications of CostsCAS 2: Capacity De

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Measures initiated by ICAI for revisiting AS 11

09 April 2009 at 11:33

Measures initiated by ICAI for revisiting Accounting Standard (AS) 11, The Effects of Changes in Foreign Exchange RatesCA. Uttam Prakash Agarwal, President, The Institute of Chartered Accountants of India (ICAI) re-iterated the Institute's desire

Posted in Accounts | 1 comments | 23085 Views

AS 11 amended

03 April 2009 at 10:30

Accounting Standard-11 relating to “The Effects of Changes in Foreign Exchange Rates” earlier prescribed under the Companies (Accounting Standards) Rules 2006 has been now amended by the Central Government, in terms of the powers conferre

Posted in Accounts | 8 comments | 47559 Views

AS 11 breather

30 March 2009 at 14:09

Author : Pallavi Pengonda/DNAReported profits of companies are likely to be better for the quarter ending March following the expected suspension of the revised Accounting Standard 11 (AS 11) mark-to-market (MTM) accounting rule.The National Advis

Posted in Accounts | 1 comments | 14715 Views