Welcome to Joy’s musings on accounting and valuation.
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Amendments to Indian Accounting Standards (Ind AS) issued in July 2020
Ministry of Corporate Affairs (MCA) has issued the Companies (Indian Accounting Standards) Amendment Rules, 2020 dated 24 July 2020. The rules are effective from the date of publication in the Official Gazette of India i.e. 24 July 2020. All amendments are effective for periods beginning 1 April 2020 or later. However, amendments relating to Ind…
Comparison of ICAI Valuation Standards 2018 with International Valuation Standards (effective 31 January 2020) – Part II
In this series of blog posts, I am writing about the Comparison of ICAI Valuation Standards 2018, effective 1 July 2018 (“ICAI VS”) with International Valuation Standards, effective 31 January 2020 (“IVS”). I have already written the first post introducing ICAI VS and IVS, and also covered their objectives, topics under various standards, types of…
Fair valuation and similar requirements in accounting standards
A number of accounting standards, whether Indian Accounting Standards included the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) or Accounting Standards Companies (Accounting Standards) Rules, 2006 (AS), require, or provide an option, to preparers of financial statements to measure various assets and liabilities at fair value. Further, a number of accounting standards require assets…
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Joy's musings on accounting and valuations 