The Institute of the Chartered Accountants of India, (ICAI), India's standard setting body, is increasingly attempting to provide this transparency by revisions and additions to accounting standards, and by Exposure Drafts which aim to bring India more in line with International Financial Reporting ...
• On the recommendations of the NACAS, the Government has notified all the Accounting Standards issued by ICAI, which have come into force in respect of accounting periods commencing on or after 7th December 2006. Convergence of Accounting Standards What is Convergence ? Convergence means ...
2. Prudence vs. rules:The Institute of Chartered Accountants of India (ICAI) has been structuring Accounting Standards based on the International Accounting Standards ( IAS) , which employ concepts and`prudence'as the principle in contrast to the US GAAP, which are "rule oriented", detailed and...
When you create a project contract in a foreign currency and then create a project invoice proposal that has a different invoice date, a balance issue occurs for the posting, accounting, and reporting currencies. Additionally, there are issues that are related to multiple funding sources for a ...
Total FDI inflows in the power sector reached US$ 15 billion during April 2000 to March 2020, accounting for 3.5% of total FDI inflows in India.How to Research the Power Sector (Key Points)Supply Reliable supply remains low in the country. The energy deficit is...
In the prestigious landscape of business education, the Indian Institutes of Management (IIMs) are renowned for their rigorous academic standards and
Finance and Accounting Courses in Spain Master Courses in Spain along with course name, fees, intake, Duration and eligibility Course Name Fees (per year) Intake Duration Eligibility MSc in International Business €3,000 - €20,000 Fall 1-2 years Bachelor’s degree, English proficiency...
up with corrections wherever required. Currently, it is the statements issued by FASB (Financial Accounting Standards Board) that are accepted as norms by the accounting firms in the country. The provisions in US GAAP are somewhat different from the International Financial Reporting Standards (IFRS)...
The paradigm shift in the economic environment in India during last few years has led to increasing attention being devoted to accounting standards as a means towards ensuring potent and transparent financial reporting by any corporate.ICAI, being a premier accounting body in the country, took upon...
These rules emanate from AS 30 accounting standard that has been issued by the ICAI in line with the International Financial Reporting Standards (IFRS). As per the rules, financial instruments unless held-to-maturity (HTM) are required to be marked to market (MTM). The paper argues that ...