Quick Summary
The Institute of Chartered Accountants of India has released the fifth edition of amendments to Ind ASs, 2020 notified by the MCA vide notification dated 24 July 2020. Read the official announcement below:
Accounting Standards Board
The Institute of Chartered Accountants of India
6th October, 2020
ANNOUNCEMENT
Release of Indian Accounting Standards: An Overview (Revised 2020)
This is the fifth edition of our earlier issued publication which gives a glance on the basic aspects of applicable Ind AS in a summarised manner, differences between Ind AS and AS and Ind AS and IFRS. The said publication captures all the amendments to Ind ASs notified by the MCA vide notification dated 24 July 2020, as Companies (Indian Accounting Standards) Amendment Rules, 2020, comprising critical amendments to Ind AS which are applicable for the accounting year beginning on or after April 1, 2020.
Relevant link to download the said publication: Click Here
FAQ :
The ICAI has released the fifth edition of its publication titled 'Indian Accounting Standards: An Overview (Revised 2020)'.
The amendments to Ind ASs were notified by the Ministry of Corporate Affairs (MCA) via a notification dated 24 July 2020.
The publication provides a summary of basic aspects of applicable Ind AS, outlines differences between Ind AS and AS, and between Ind AS and IFRS.
The critical amendments are applicable for the accounting year beginning on or after April 1, 2020.
No, this is the fifth edition of an earlier issued publication.
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