Accounting standards issued for local bodies

Last updated: 25 October 2008

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 Bodies (ASLB) 4, Borrowing Costs. Presently in India,

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