Accounts News

FAQ on IndAS by ITFG

06 April 2018 at 11:22

Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 15Ind AS Transition Facilitation Group (ITFG) of Ind AS Implementation Group has been constituted for providing clarifications on timely basis on various issues related to the applica

Posted in Accounts | 6396 Views

Issuance of New Revenue Standard Ind AS 115

31 March 2018 at 12:22

An important development in Ind AS Framework i.e. a new Ind AS in the area Revenue recognition has been notified by Ministry of Corporate Affairs which was formulated based on recommendation made by The Institute of Chartered Accountants of India.The

Posted in Accounts | 1 comments | 6219 Views

ICAI group for examining SC judgement on MNC accounting firms

28 March 2018 at 10:41

No.M-626/08/MAF&PWC/2018 ALL MEMBERS OF THE COUNCILMadam/Dear Sir,Sub.: Constitution of a Group to examine the issues arising out of the Judgement dated 23.02.2018 of the Hon’ble Supreme Court in the matter of operation of Multinational A

Posted in Accounts | 1 comments | 4506 Views

Insolvency and Bankruptcy code has changed debtors and creditor relationship

21 August 2017 at 11:56

FM inaugurates the National Conference on Insolvency and Bankruptcy :Changing Paragdigm in Mumbai Creditors and Debtors perspective �Striking the balance �The Union Minister of Finance, Defence and Corporate Affairs, Shri Arun Jaitley sai

Posted in Accounts | 1 comments | 7941 Views

Relevant part of MAT-Ind AS Committee Report

28 July 2017 at 11:26

Relevant part of MAT-Ind AS Committee Report dated 17th June, 2017 containing recommendations regarding amendment to the provisions of the section 115JB of the Income-tax Act, 1961 in respect of Ind AS Compliant Companies.Under Ind AS, there are cert

Posted in Accounts | 5688 Views

Exposure Draft of Ind AS Taxonomy for Comments

11 January 2017 at 11:14

As per the roadmap issued by the Ministry of Corporate Affairs (MCA) in February 2015, certain class of companies have to prepare their financial statements as per Indian Accounting Standards (Ind AS) which are converged with International Financial

Posted in Accounts | 4746 Views

Nomination for Membership at the International Accounting Standards Board

08 November 2016 at 10:45

International Accounting Standards Board (IASB) is seeking applications for vacancies in the Board (A) IASB position summary:The International Accounting Standards Board is the independent standard-setting body of the IFRS Foundation. Members of the

Posted in Accounts | 4371 Views

Road Map for implementation of Indian Accounting Standards

30 April 2016 at 15:44

The Road Map for implementation of Indian Accounting Standards (Ind AS) for commercial Banks (Banks), Insurance Companies (Insurers) and Non-Banking Financial Companies (NBFCs) was announced on 18/01/2016 and implementation schedule is drawn as follo

Posted in Accounts | 1 comments | 15504 Views

Date for withdrawal of all old series banknotes extended

24 December 2015 at 11:06

RBI/2015-16/275DCM (Plg) No.G-8/2331/10.27.00/2015-16December 23, 2015The Chairman / Managing Director / Chief Executive OfficerAll Scheduled Commercial BanksPrimary (Urban) Co-operative Banks / RRBsMadam / Dear Sir,Withdrawal of all old series of Ba

Posted in Accounts | 2 comments | 20337 Views

Withdrawal of five Guidance Notes on Accounting

24 October 2015 at 11:20

The Council, at its Special (347th) meeting, held on October 14, 2015, has decided to withdraw the following five Guidance Notes on Accounting as the same are no longer relevant in the present day context in view of the requirements of the Companies A

Posted in Accounts | 3 comments | 22989 Views