Accounts News
ICAI to adopt global standards from 2011
23 July 2007 at 03:36The Institute of Chartered Accountants of India (ICAI) has decided to fully converge with the international financial reporting standards (IFRS) from April 1, 2011. The IFRS are issued by the International Accounting Standards Board. A work plan woul
AS 30 , AS 31 ... two new accounting standard formulated
28 June 2007 at 01:54The Accounting Standards Board of the Institute of Chartered Accountant of India, which sets the standard for the country, has formulated two new Standards on Financial Instruments - AS 30 (Financial Instruments: Recognition and Measurement) and AS 3
Accounting norms change to take a toll on SBI profit
20 June 2007 at 02:30State Bank of India's profits are expected to take a hit of Rs 800 crore for each of the next five years with the bank needing to make additional provision of around Rs 4,000 crore due to changes in accounting norms for employees' retirement benefits
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