Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: list of goods taxed at 4% :: due date for vat payment :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: form 3cd :: Central Excise rule to resale the machines to a new company :: empanelment :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: VAT Audit :: cpt
 
 
« News Headlines »
 Seven things you must do before 31st March
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017
 Tax and transparencya
 No decision yet on imposing tax on cash transactions

ICAI working on standards for derivatives
July, 13th 2006
The Institute of Chartered Accountants of India (ICAI) is in the final stage of formulating the accounting standard for financial instruments in India. 
 
T N Manoharan, president, ICAI said that the draft of the accounting standard will be released by September for consultation with different stake holders. 
 
Manoharan said, "The draft will be released by September for consultation. It will be finalised within this December. The accounting standard for financial instrument will also include derivative products." 
 
ICAI was taking into consideration views of the Reserve Bank of India (RBI) while finalising the accounting standard, he added. 
 
Meanwhile, ICAI has also initiated its work for framing accounting standard in agricultural income. 
 
"We have just started working on the accounting standard in agricultural income. It is in an initial stage," he added. 
 
On the other hand, ICAI is in final stage of submitting the road map for implementing 'accrual system of accounting' in government accounts. 
 
"Government of India adopts 'cash system of accounting' which is based on actually receipts and payment. We are in the process of formulating the road map for implement 'accrual based system of accounting," said Manoharan. The work is done by ICAI in a sub-committee under Government Accounting Standards Advisory Board (GASAB). 
 
"We have had two meetings with GASAB. The road map will be prepared by this month end," he confirmed.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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