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: articles on VAT and GST in India :: due date for vat payment :: TDS :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: VAT RATES :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: cpt :: empanelment :: Central Excise rule to resale the machines to a new company :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« News Headlines »
 A tax saver scheme with higher returns
 GST registration mandatory for TDS entities
 Govt rules out extension for filing GSTR-3B returns after December
 Tax department’s e-filing portal out of action for 2 hours
 Use ITR-2 to show salary and capital gains income
  TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
  How to file ITR for FY 2016-17 and all the links you need
 All about E-way Bill under GST
 Good and simple tax: on the GST regime
 Seeks to extend the time limit for filing of GSTR-1, GSTR-2 and GSTR-3
 Good news, find Tax Return Preparers soon at a place near you; 5 things to know

Indian accounting standards to match global norms
July, 26th 2007
Indian accounting standards will be fully in line with the International Financial Reporting Standards (IFRS) from April 1, 2011. This was decided by the Institute of Chartered Accountants of India (ICAI) at its 269th Council meeting here today.
 
To begin with, these standards will apply only to public listed companies. Other companies will be brought under IFRS ambit in a phased manner. "The International Accounting Standards Board (IASB) has come out with an exposure draft for small and medium enterprises. We need to give our suggestions for the draft to be finalised sometime late next year. Thereafter we will get to know when these standards can be applied for SMEs, said Sunil Talati, president, ICAI.
 
Once the new norms become applicable, all accounts prepared in India will be of uniform global standards. Indian chartered accountants will also be recognised world wide, Talati added. "It would ease a lot of problems faced during cross border mergers and acquisitions. This will also provide the necessary impetus to mutual recognition agreements currently under discussion with countries like the UK and Singapore and Australia, he added.
 
At present, of the 39 IASB accounting standards, 28 are already practised by Indian chartered accountants (CA), eight are under preparation, one is a guidance note already corresponding to IFRS and two do not hold relevance in the Indian context. Around 102 countries have already converged their accounting standards.
 
According to Talati, the date of implementation has been decided as 2011 because few standards require basic amendment in schedule 6, 14 and others in the Companys Act itself, besides few others that require cosmetic changes.
 
"ICAI will carry out massive training programmes across its branches, training centres, regional councils and chapters for all CAs to equip them with the knowledge of all the new standards," added Talati. ICAI in future will also look at convergence in auditing standards as well as internal audit.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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