IndianTaxStudy.com
  • Knowledge Base
    • GST
    • Income Tax
    • Financial Management
    • Financial Reporting
    • Corporate Compliances
  • Search GST Tax Payer Details
  • Services Offered
    • GST/TDS/ITR – Efillings
    • GST Registration
    • Company Registration
  • Login
  • Register
No Result
View All Result
WhatsApp Support
IndianTaxStudy.com
  • Knowledge Base
    • GST
    • Income Tax
    • Financial Management
    • Financial Reporting
    • Corporate Compliances
  • Search GST Tax Payer Details
  • Services Offered
    • GST/TDS/ITR – Efillings
    • GST Registration
    • Company Registration
  • Login
  • Register
No Result
View All Result
WhatsApp Support
IndianTaxStudy.com
No Result
View All Result

Framework for the Preparation and Presentation of Financial Statements

Raj Kumar by Raj Kumar
4 years ago
in Financial Reporting
Reading Time: 11min read
A A
0

MorePosts

Value Added Statements – A way to Show Value added by organisation apart from Financials

Know how to calculate Treasury Bills, Bonds, etc. in Money Market Operations

How to calculate WDV Rates for Depreciation

Benefits and Limitations of Accounting Standards

Objectives of Accounting Standards

Load More

Institute of Chartered Accountants of India, which is the apex body of accountants in India has issued a framework on manner of presentation and preparation of Financial Statements in India and is called as [wiki slug=’framework-for-the-presentation-and-preparation-of-financial-statements-as-issued-by-icai’ /]. This framework sets out the concepts that underlie the preparation and presentation of financial statements for external users.

However, this Framework itself isn’t an Accounting Standard and hence does not define standards for any particular measurement or disclosure issue. Hence, it also cannot override any specific Accounting Standard. Wherever, there is any conflict between the Accounting Standard and this Framework, Accounting Standard shall prevail. However, Accounting Standards Board shall consider such conflicts and be guided for its review of existing Standards and development of future Accounting Standards. This way the number of conflicts between this Framework and this Accounting Standard will diminish through time. Also this Framework will be revised from time to time on the basis of the experience of the Accounting Standards Board of working with it,

Page 1 of 5
12...5Next
Tags: Financial Statements
Previous Post

Declaration and Payment of Dividends

Next Post

Computation of returns from Mutual Funds

Raj Kumar

Raj Kumar

I love blogging and studying taxation. I write articles related to Tax laws and common issues in handling taxation in India. Often, common but small mistakes make things complicated. I write and share them to save precious time of others.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Recent Articles

Compounding of Offences under GST Regime

What taxes you shall pay for the FY 2019-20 under Income-tax Regime?

TDS on Payment to Contractor u/s 194C after the amendments by Finance Act 2020

Value Added Statements – A way to Show Value added by organisation apart from Financials

Know how to calculate Treasury Bills, Bonds, etc. in Money Market Operations

Few reasons to move to cashless transaction under Income-tax Act, 1961

This is why you should always quote your PAN rightly for TDS deductions

Interest on Income Tax Refunds

IndianTaxStudy.com

© 2021 || Indiantaxstudy.com

Quick Links

  • Contact us
  • Privacy Policy
  • Terms & Conditions
  • Sitemaps

Follow Us

  • Login
  • Sign Up
No Result
View All Result
  • Knowledge Base
    • GST
    • Income Tax
    • Financial Management
    • Financial Reporting
    • Corporate Compliances
  • Search GST Tax Payer Details
  • Services Offered
    • GST/TDS/ITR – Efillings
    • GST Registration
    • Company Registration

© 2021 || Indiantaxstudy.com

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.