Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: VAT RATES :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: VAT Audit :: list of goods taxed at 4% :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: TDS
 
 
ICAI »
 Roll Nos. / Exam Centres of IRM Technical Exam, INTT AT, MAC(Part-I) & TMC(Part-I) Exams to be held in November, 2017
 Opportunity for IFAC CEO Job Position
 68th Annual Report and Audited Accounts of the Institute for the year 2016-17
 Change of Venue in respect of some of the Candidates of Intermediate (IPC) and Final Examinations at Mumbai, in respect of November 2017 exams
 CPE Events 9th October - 14th October 2017
 Exposure Draft of the Accounting Standard (AS) 23, Borrowing Costs (Comments to be received by October 31, 2017)
 Exposure Draft of the Accounting Standard (AS) 24, Related Party Disclosures (Comments to be received by October 31, 2017)
 ICAI Invites Suggestions for Pre-Budget Memorandum-2018
 CPE Events 2nd October - 7th October 2017
 President's Message - October 2017
 Discontinuation of Online Sales Portal www.icaionlinestore.org

Announcement regarding Non-application of AS 30, AS 31 and AS 32 in the Final Course Paper 1: Financial Reporting
November, 24th 2015

The entire IAS 39 “Financial Instruments: Recognition and Measurement”, on which AS 30 “Financial Instruments: Recognition and Measurement” was based, has been replaced by IFRS 9 “Financial Instruments”. Therefore, the Government of India opted to notify Ind AS 109 “Financial Instruments” in correspondence to IFRS 9 and not IAS 39. Also, AS 30, AS 31 and AS 32 on ‘Financial Instruments’ were earlier proposed to be made mandatory for Level I entities only. However, after notification of Ind AS in February, 2015, these entities will be applying the provisions stated in Ind AS 32, Ind AS 107 and Ind AS 109 and not AS 30, AS 31 and AS 32 for accounting of financial instruments. Therefore, it is felt appropriate to make applicable Ind AS 32, Ind AS 107 and Ind AS 109 in place of AS 30, AS 31 and AS 32 to the topic ‘Accounting for Financial Instruments’.



Accordingly, it has been decided to make Ind AS 32 “Financial Instruments: Presentation”, Ind AS 107 “Financial Instruments: Disclosures” and Ind AS 109 “Financial Instruments” applicable on the topic ‘Accounting for Financial Instruments’ instead of AS 30 “Financial Instruments: Recognition and Measurement”, AS 31 “Financial Instruments: Presentation” and AS 32 “Financial Instruments: Disclosures” from May, 2016 examinations for Paper 1 : Financial Reporting at the Final level.



Further, it may also be noted that existing Accounting Standards as already given in the study material will continue to be part of the syllabus alongwith the topic “Introduction of Indian Accounting Standards (Ind AS); Comparative study of ASs vis-a-vis Ind ASs; Carve outs/ins in Ind ASs vis- à-vis International Financial Reporting Standards (IFRSs)”, which has been recently included in the syllabus from May, 2016 examination and onward. Thus for the remaining topics of the syllabus of Financial Reporting paper, existing Accounting Standards will still be applicable.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions