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ICAI »
 ICAI-Convocation - 2017-18
 Invitation for expression of interest from Social Media Networking Service providers/online marketing solution providers for providing social media solution/ online marketing solutions for publicizing the contents/ activities/other works of the Career Counselling Sub-group under BOS, ICAI by 25th August, 2017.
 Educational Material on Ind AS 16, Property, Plant and Equipment
 The Last Date of Online Filing of Multipurpose Empanelment Form (MEF) for the year 2017-18 is extended from 15th August, 2017 to 25th August, 2017.
 Empanelment of Members to act as Observers at The Examination Centres for The Chartered Accountants Examinations November / December 2017.
 ICAI Awards for Excellence in Financial Reporting' - Invitation to participate in the Competition for the year 2016-17
 ICAI Awards for Excellence in Financial Reporting' - Invitation to participate in the Competition for the year 2016-17
 December, 2017 - Common Proficiency Test (CPT)
 Result of the Chartered Accountants Intermediate (Integrated Professional Competence) Examination held in May 2017 declared.
 Result of the International Taxation - Assessment Test held in May 2017 declared.
 President's Message - August 2017

Amendment to AS 2, 4, 6, 10, 13, 14, 21 and 29 issued by the Institute of Chartered Accountants of India, pursuant to issuance of amendments to Accounting Standards by the MCA (September 2016)
September, 29th 2016

Amendment to AS 2, 4, 6, 10, 13, 14, 21 and 29 issued by the Institute of Chartered Accountants of India, pursuant to issuance of amendments to Accounting Standards by the MCA

1.     The Council of the Institute of Chartered Accountants of India (ICAI) at its 359th meeting held on August 16-17, 2016 noted that the Ministry of Corporate Affairs (MCA) has notified Companies (Accounting Standards) Amendment Rules, 2016 (G.S.R. 364(E) dated 30.03.2016) and amended the following Accounting Standards and omitted AS 6,Depreciation Accounting, issued under Companies (Accounting Standards) Rules, 2006:

  • AS 2, Valuation of Inventories
  • AS 4, Contingencies and Events Occurring After the Balance Sheet Date
  • AS 10, Property, Plant and Equipment
  • AS 13, Accounting for Investments
  • AS 14, Accounting for Amalgamations
  • AS 21, Consolidated Financial Statements
  • AS 29, Provisions, Contingent Liabilities and Contingent Assets

2.     With the view to harmonise Accounting Standards issued by the ICAI for non-corporate entities and the amendments to the Accounting Standards notified by the Central Government, the Council decided that the amendments notified by the Central Government after appropriate changes shall also be incorporated in the Accounting Standards issued by the ICAI. 



3.     In view of the above, following changes are made in Accounting Standards issued by the ICAI:

  • AS 6, Depreciation Accounting stands withdrawn.
  • The following Accounting Standards are amended:
    • AS 2, Valuation of Inventories
    • AS 4, Contingencies and Events Occurring After the Balance Sheet Date
    • AS 10, Property, Plant and Equipment
    • AS 13, Accounting for Investments
    • AS 14, Accounting for Amalgamations
    • AS 21, Consolidated Financial Statements
    • AS 29, Provisions, Contingent Liabilities and Contingent Assets
The amendment can be accessed at below link: http://resource.cdn.icai.org/43440asb33184a.pdf

4.     These amendments will come into effect in respect of accounting periods commencing on or after April 1, 2017.
 
 
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