a. The Insolvency and Bankruptcy Board of India was established on 1st October, 2016 under the Insolvency and Bankruptcy Code, 2016 (Code). It is a key pillar of the ecosystem responsible for implementation of the Code that consolidates and amends the laws relating to reorganizatio..
The Committee on Accounting Standards for Local Bodies (CASLB) has been formulating Accounting Standards for Local Bodies (ASLBs) since March, 2005. So far, the Committee has issued fifteen ASLBs. Moving forward in this direction, the Committee has finalised the Exposure Draft of ASLB 23, ..
This edition contains an overview of various aspects related to IFRS-converged Indian Accounting Standards (Ind AS) such as roadmap for the applicability of Ind AS, carve-outs from IFRS/IAS, changes in financial reporting under Ind AS compared to financial reporting under accounting standards, summa..
The Committee on Accounting Standards for Local Bodies (CASLB) is formulating Accounting Standards for Local Bodies (ASLBs) since March, 2005 to improve financial reporting for local bodies. So far, the Committee has issued thirteen ASLBs including one cash based ASLB that will facilitate transition..
Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 15
'Ind 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 applicability and /or implementation o..
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 the recommendation made by The Institute of Chartered Accountants of India.
The key amendment is the issuance of new Reve..
ALL MEMBERS OF THE COUNCIL
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 Accounting Firms in India
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 said that since the Insolvency and Ba..
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 certain transactions with shareholders/related par..
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 Reporting Standards (IFRS) w.e.f F.Y. 2016-17. MCA..