Accounting standards issued by the ICAI, Accounting standards issued by NACAS, Accounting standards / IFRS issued by IASB
Accounting standards issued by the ICAI – Since 1979 when the first accounting standard, Institute of Chartered Accountants of India has issued 32 accounting standards (upto December 2009). Some of them have been revised. In some cases, ICAI has issued Accounting Standards Interpretation (ASI) and issued some clarification.
near final drafts of Indian Accounting Standards (Ind-AS) submitted to MCA in line with IAS/IFRS for necessary changes or suggestions and to be notified by Govt. of India
near final drafts of Indian Accounting Standards (Ind-AS) submitted to MCA in line with IAS/IFRS for necessary changes or suggestions and to be notified by Govt. of India
Accounting standards issued by the ICAI – Since 1979 when the first accounting standard, Institute of Chartered Accountants of India has issued 32 accounting standards (upto December 2009). Some of them have been revised. In some cases, ICAI has issued Accounting Standards Interpretation (ASI) and issued some clarification.
Accounting standards issued by the National Advisory Committee on Accounting Standard (NACAS) (Government of India). Generally the standards issued by NACAS are in line with AS issued by the ICAI exempt few cases
International accounting standard board (IASB) has been set up to to develop a single set of high quality, understandable, enforceable and globally accepted international financial reporting standards (IFRSs), to promote the use and rigorous application of those standards, to take account of the financial reporting needs of emerging economies and small and medium-sized entities (SMEs); and to bring about convergence of national accounting standards and IFRSs to high quality solutions.
Cost Accounting Standards as issued by The Institute of Cost & Works Accountants of India (ICWA)
