Account & Audit

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February 24, 2024

NFRA Sums Up Mandatory Audit Procedures Under SAs for Verifying Revenue, While Penalizing & Debarring Auditor for Lapses

The National Financial Reporting Authority … Continue reading “NFRA Sums Up Mandatory Audit Procedures Under SAs for Verifying Revenue, While Penalizing & Debarring Auditor for Lapses”

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February 23, 2024

Case Study on Capitalization of Borrowing Cost When Construction Activity Is Being Carried Out by Another Co.

Para 17 of Ind AS … Continue reading “Case Study on Capitalization of Borrowing Cost When Construction Activity Is Being Carried Out by Another Co.”

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February 21, 2024

Impact and Disclosure Required in Financial Statements if Going Concern Assumption Is Not Appropriate

Ind AS 1, Presentation of … Continue reading “Impact and Disclosure Required in Financial Statements if Going Concern Assumption Is Not Appropriate”

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February 18, 2024

Cost Incurred to Maintain Status Quo of Construction Site of Warehouse Not to Be Capitalized

Para 16 of Ind AS … Continue reading “Cost Incurred to Maintain Status Quo of Construction Site of Warehouse Not to Be Capitalized”

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February 16, 2024

[Opinion] New Technical Guide of ICAI on Cash Basis of Accounting

CA. Srinivasan Anand G. – … Continue reading “[Opinion] New Technical Guide of ICAI on Cash Basis of Accounting”

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February 16, 2024

ICAI Issues Guidance Note on Audit of Banks | 2024 Edition

The Institute of Chartered Accountants … Continue reading “ICAI Issues Guidance Note on Audit of Banks | 2024 Edition”

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February 16, 2024

ICAI Issues Technical Guide on Preparation of Financial Statements under Cash Basis of Accounting

The Institute of Chartered Accountants … Continue reading “ICAI Issues Technical Guide on Preparation of Financial Statements under Cash Basis of Accounting”

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February 14, 2024

Consequences of Detection of Fraud After Reporting Date

Para 21 of Ind AS … Continue reading “Consequences of Detection of Fraud After Reporting Date”

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February 13, 2024

ICAI Issues Implementation Guide (Revised) on Reporting on Audit Trail

The Institute of Chartered Accountants … Continue reading “ICAI Issues Implementation Guide (Revised) on Reporting on Audit Trail”

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February 13, 2024

ICAI Can Refer Matter to Disciplinary Committee If Board of Discipline Disagrees With Director’s Opinion | SC

The Supreme Court has upheld … Continue reading “ICAI Can Refer Matter to Disciplinary Committee If Board of Discipline Disagrees With Director’s Opinion | SC”