Accounts News

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 | 14730 Views

Accounting standards issued for local bodies

25 October 2008 at 16:26

The Institute of Chartered Accountants of India (ICAI) has issued the first two Accounting Standards for Local Bodies, viz., Accounting Standard for Local Bodies (ASLB) 3, ‘Revenue from Exchange Transactions, and Accounting Standard for Local B

Posted in Accounts | 1 comments | 17214 Views

Issuance of Exposure Draft of revised AS 3

15 October 2008 at 01:17

In its endeavors of converging with IASs/IFRSs, the Institute of Chartered Accountants of India (ICAI) has issued an exposure draft of revised Accounting Standard (AS) 3, Statement of Cash Flows on the lines of corresponding IAS 7 for public comments

Posted in Accounts | 1 comments | 9291 Views

Exposure Draft of Proposed Improvements to IFRSs

10 September 2008 at 12:04

Exposure Draft of Proposed Improvements to IFRSs - (09-09-2008)The International Accounting Standards Board (IASB) has issued Exposure Draft of Proposed Amendments to International Financial Reporting Standards (IFRSs) as part of its annual improveme

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Changing over from GAAP to IFRS-1: Are we ready yet?

11 August 2008 at 16:29

A single implementation date for the new regime would be desirable, The Institute of Chartered Accountants of India (ICAI) and the Government of India have affirmed

Posted in Accounts | 1 comments | 12372 Views

GAAP: a Game All Accountants Play

06 August 2008 at 11:48

June quarter has seen a host of companies adjusting profits, In the quarter ended June 30, 2008, Jet Airways declared a net profit of Rs 143 crore.

Posted in Accounts | 5 comments | 14340 Views

Is India Inc ready for IFRS?

14 June 2008 at 11:39

India is among 150-odd countries that have decided to adopt IFRS from 2011 onwards, Come 2011 and India Inc will experience drastic changes in the way financial statements are reported.

Posted in Accounts | 11304 Views

ICAI council Approves Accounting Standard (AS) 32,

19 May 2008 at 16:49

The Council of the Institute has approved Accounting Standard (AS) 32, Financial Instruments: Disclosures. The objective of this Accounting Standard is to require entities to provide disclosures in their financial statements to enable users to evalua

Posted in Accounts | 18072 Views

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 | 9693 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 | 5892 Views