CCI Online Learning
What do you want to learn today?

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Exposure draft of ASLB 23, 'Revenue from Non-Exchange Transactions (Taxes and Transfers)

Posted on 17 August 2018


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‘Revenue from Non-Exchange Transactions (Taxes and Transfers)’

Revenue is one of the key constituents of the financial performance of an entity. The Government receives revenue from both exchange as well as non-exchange transactions such as taxes and transfers. ASLB 9, ‘Revenue from Exchange Transactions’ has already been issued by the ICAI which is available at the website of the Institute, i.e., Keeping in view the significance and volume of non-exchange transactions in Government sector, the Exposure Draft of ASLB 23 is being issued which provide guidance on recognition & measurement principles and disclosure requirements in respect of revenue arising from non-exchange transactions in Local Bodies. 

The comments on the above Exposure Draft are invited which can be submitted using one of the following methods, so as to be received not later than September 20, 2018:

1. Electronically: Click on to submit comments online
2. E-mail: Comments can be sent to:
3. Postal: Secretary, Committee on Accounting Standards for Local Bodies,
The Institute of Chartered Accountants of India,
ICAI Bhawan, Post Box No. 7100,
Indraprastha Marg, New Delhi 110002
Phone: 011-30110449
Tags :

Trending Tags
unified portal
ca exams
shares stock
companies act 2013
corporate law
ca students
Service Tax
gst return
Professional Resource
tin nsdl
ca rankholder interview
gst council meeting
Info Technology
Financial Modeling

FM by Grant Thornton    |    x