Exposure Drafts of Guidance Note on Financial Statements of Non-Corporate Entities and Guidance Note on Financial Statements of Limited Liability Partnerships for comments
February, 07th 2023
Accounting Standards Board The Institute of Chartered Accountants of India 7th February, 2023
Exposure Drafts of Guidance Note on Financial Statements of Non-Corporate Entities and Guidance Note on Financial Statements of Limited Liability Partnerships for comments
The Accounting Standards Board (ASB) of the ICAI in June 2022 had issued Technical Guides on “Financial Statements of Non-Corporate Entities” and “Financial Statements of Limited Liability Partnerships” to deal with applicability of Accounting Standards and recommending formats of the financial statements to these entities.
The ASB has now proposed to prescribe the formats for presentation of financial statements of these entities in the form of Guidance Notes. The objective of proposed Guidance Notes is to further ensure that these formats of financial statements are followed to achieve standardisation and enhance the quality of the financial reporting by these entities.
The Exposure Drafts of Guidance Notes can be assessed at the following links for comments with the last date of comments being March 8, 2023:
Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi 110 002
Further clarifications on the Exposure Drafts may be sought by e-mail to asb@icai.in.
