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: cpt :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: VAT Audit :: articles on VAT and GST in India :: VAT RATES :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment
 
 
News Headlines »
 Infosys to configure GST network for filing returns
 Save income tax through mutual fund investment. All you need to know
 Income tax returns (ITR): On sale of property, here is what you should know
 Section 35 of the Income-tax Act?
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961
 Income tax returns filing: No tax on gift received from relatives in form of cash

ICAI proposes increased disclosure by listed cos
February, 03rd 2012

Accounting authorities are considering a proposal that will ask listed companies to disclose the extent of their holdings in risky regions or in volatile financial instruments, on the grounds that stakeholders need to be informed about the impact of such exposures.

The proposal, which will have to be prepared by the Institute of Chartered Accountants of India (ICAI), the nodal accounting body, may make it mandatory for companies to mention the disclosure either in the form of a summary or as an annexure to their financial statements and will also contain a prudent assessment of the challenges, said a person familiar with the development.

The modalities of such disclosures will, however, have to be worked out in detail as it is still not clear how risky regions will be estimated and who will do the study on the perception of the risk, said auditors. Currently, companies voluntarily disclose sensitivity analysis for each currency where they have significant exposure and also mention the extent of their exposures in troubled regions.

Typically on such issues, the ICAI recommends its proposal to the ministry of corporate affairs which, along with markets regulator Sebi, makes the final notification. Recently, the institute had also given its recommendations on the issue of extending relief for companies burdened with mark-to-market losses on forex loans, after the rupee dipped. "The Institute encourages making necessary disclosures.

It may be mentioned that Accounting Standard 11 asks entities to disclose their foreign currency risk management policy," said ICAI president G Ramaswamy. "We have already issued an announcement which requires disclosures in financial statements with regard to unhedged foreign currency exposures," he added.

The proposal on increased disclosures may have been mooted after Indian companies suffered huge losses due to their investments in some countries.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

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