Tally for CAs in Industry Silver Edition (Single User) Tally Renewal (Auditor Edition) Need Tally for Clients? (Tie-up with us!!!)
Open DEMAT Account with in 24 Hrs and start investing now!
Professional Updates »
Open DEMAT Account in 24 hrs
 Exposure Draft of Disclosures of Accounting Policies Amendments to Ind AS 1, Presentation of Financial Statements
 ICAI International Sustainability Reporting Awards 2020-21 for Excellence in Sustainable Initiatives and Innovations organized by SRSB, ICAI (Last Date: November 15th,
 Result of the Online Examination of the Certificate Course on Ind AS held on 27th June, 2021.
 Further extensions regarding the validity of Peer Review Certificate in the wake of COVID -19 spurt across the country
 Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS) - Adv. Information Technology Test
 Publication: Handbook on Personal Guarantors to Corporate Debtors under The Insolvency and Bankruptcy Code, 2016 by CIBC of ICAI
 Guidance Note on Accounting for Derivative Contracts (Revised 2021)
 1st Online Batch of Certificate Course on Fundamental Analysis & Technical Analysis Including Equity
 Announcement regarding FAQs on Circular regarding Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 issued by the Ministry of Corporate Affairs on 03.05.2021-Revised by CL&CGC ICAI
 Announcement regarding List of Forms where additional fees has been waived off as per Circular 11/2021 and 12/2021 issued by the Ministry of Corporate Affairs by CL&CGC ICAI
 Important Announcement - CA July 2021 Examination - Kathmandu-Nepal
 Companies (Creation and Maintenance of databank of Independent Directors) Amendment Rules, 2021
 Companies (Meetings of Board and its Powers) Amendment Rules, 2021
 ICAI Board of Studies (Academic) is announcing mobile application ICAI BOS on the occasion of CA Day 1st July 2021 for students of Foundation, Intermediate and Final course.
 Foundation, Intermediate (IPC), Intermediate, Final and Final-New Examination Admit Cards

Guidance Note on Accounting for Derivative Contracts (Revised 2021)
July, 07th 2021

The Research Committee of ICAI issued the Guidance Note on Accounting for
Derivative Contracts to establish uniform accounting principles for accounting
of derivative contracts. In view of global developments in respect of Interbank
Offered Rates (IBORs), the same has been revised. A report on “Reforming
Major Interest Rate Benchmarks” was issued by Financial Stability Board
(FSB). Consequently, some major interest rate benchmarks will cease to be
published across the globe after December 2021. The ongoing reform in IBORs,
will impact the way financial information is accounted for in the financial
statements. Therefore, Guidance Note has been revised primarily to address
replacement issues relating to hedge accounting arising from Interest Rate
Benchmark Reform.


I congratulate the Accounting Standards Board in taking this initiative and
coming out with revised Guidance Note


I appreciate CA. M P Vijay Kumar, Chairman, Accounting Standards Board and
CA. (Dr.) Sanjeev Singhal, Vice-Chairman, Accounting Standards Board and
all members of the Accounting Standards Board including other colleagues in
the Council who have contributed immensely towards bringing out this
publication.


I am confident that this Guidance Note would be of immense use to the
professionals and other stakeholders for fulfilling their financial reporting
requiirements.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2021 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting