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NEW ACCOUNTING STANDARD ISSUED ON 30 th March 2016 #pdf
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lTo Bu PtJtlt.lsltED IN |l t (iAZtirlr o| INI)1A. l,X'l'RAOltl)lNn R.Y PART tl- Slr("l lON 3, StJB-Sl(ll lON (i)l Ministry of Corporate Affairs NoTIT'I(JA1'ION 1,1.1Ne$ I)elhi. rhr ).r'l.l)120I6 (;.S.R.-.-... (E)- tn e\d.i\c oJ the po\|a^ .ot1/!rr!d bt.ldrse n, oflth.\cction /l) 01 sectk,t 612 of tlle ('t,Dl)unics icl, 19)6 (l t,/ 195()) rc d *ilh sLttidj ]l0A and srb- scctkrt (3C) ol section 2l I an.l4 he sditl /1.1 th( (itnftl Gownmcnt, in consulk ion trith Nationdl ,,ldvilor.y (onl,1itte. an At:co nrng Stttulods, harchy ndkei tht .lolhwing ntle! to umand the (:unNhies (tlLtx)rnting Stdn.lu ds) ltulct, 20A6, nanatui L Shon litle and connrencement.'(l) lhcsc rules nay be called the Companies (AccounlingStandards) Anrcndment Rulcs, 2016. (2)'lhq. shall comc into lbrce on the date ofrlrcif publicalion in drc Official Gazene. 2. In the Companie( Accounting Sranda s) I(Lrles.2006 (hereirraficr.cf￿rred ro as thc principal rulcs), in rule 2,- (i) lbr clauses (d and (b). the foLlowing chuses sh!ll bc subslilured. namelv:- 'ld) Account tng Stun.tu ds ea^ thc skn.latlrs ofarcoltntln't ot any otldcndunl tllercto ar specilie.l in rule 3 ol thes! rulet (h) tc! medns thc (ihpahict Act. I 9i6 ( I .'l 1 956) or thc (onponics Act. 20 1 3(tB o[2013), os rhc cuse nm be: : (ii)lor.tauses kt) dn.t(a), the loth^t, ius L kn6cs sh.tllbt) bstit ed.na ety:- 'k, 'l.inonci.tl Statct cnts nefit linuntrul ltatenants as dclined in sub-scction (.10) oj scctknl 2 tt the Cahipahi.,! /lrt, 2t)13: (c) Lnterprisc ntans u corlttut us tcline{ id 'th&ctk"1 (20) ofsaction 2 ol Ihe Con\1uni<,s /tct, 2013 ot as l.'tu1!.1 in saclion 3 ofthc (i,npanies *1, 196. as the rav nkt] h": i. In the pfincipal fulcs. in rulc 4. ir1 sub-rulc (2). tlre ords 'Concral Purpose" shall bc L In tlre principals rulcs. in the ANNI.:Xtil{ll. under dre headirg "ACCOtlNl'tNo STANI)ARl)S". undcf thc sublrading '4. Ceneml Instruc(ions", aller paragmph 4, lhc fbtlowing pamgmph shall bc nNcrcd I |l]clr-:, 5. lhe rcfercncc to Schedule Vl or '&rnpanies Acr, i956' shall nulatis 'nLrtandis mcan Schcdulc III and Conrl)Ilnies Act.201i', rcspectively. 5. ln the principal rulcs, in rhe "ANNEX(jltl-1". undef the hcading "ACCOUNTIN(j S I ANI)ARDS ' fof "AccoLrrrting Standard (AS) 2 '. rhc following Accounting Standafd shall be bstilutcd. ||an]clv:- "Accornting Strnd.lrd (AS) 2 Valuation ol lnlc torics (lhis lc.auntina Stdn.lar.l it1.ht.Ls pttligtut)h \.t in bold italic \pc an.I ploin ty)., tthi.:ll hdvc eqtu drthoritr ParuEraphs h boll it. i. hpe inllicotc th! tltik pritlciples. This lccomting Skx1.lo1l rhonl.l hc rcud in thc




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