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Accounting standard


The Financial Accounting Standards Board published a updating of accounting standards Wednesday, which aims to improve the transparency of financial reporting by requiring companies to disclose information about certain types of government assistance they receive, such as cash grants and other assets, in the notes of their financial state. The changes require a certain amount …

LONDON (Project union) – The United Nations Conference on Climate Change (COP26) held this year in Glasgow brought about a marked shift in direction from the responsibilities of governments to the power of the private sector. If national governments fail to reconcile their interests and engage in collective action, can the private sector take over? …

NEW DELHI : The government has asked the accounting legislator, the Institute of Chartered Accountants of India (ICAI) to conduct an impact assessment of the revised accounting standards it is proposing for small businesses. These are the companies that are not required to follow Indian Accounting Standards or Ind AS, which are based on International …

A trader works on the floor of the New York Stock Exchange (NYSE) in Manhattan, New York, United States, September 24, 2021. REUTERS / Andrew Kelly September 24 (Reuters) – More than half of S&P 500 companies now use a common Value Reporting Foundation standard to report on topics such as carbon emissions and energy …

The Audit Quality Center, in a report published on August 20, reported 12 economies as potentially highly inflationary for purposes of US GAAP Accounting Standards Codification (ASC) 830, Foreign currency issues. The Center for Audit Quality is an independent public policy body affiliated with the American Institute of CPAs. Its Inflation Watch Report is intended …

Small businesses with an annual turnover of less than 250 crore will soon get an accounting standard on “share-based payments” to meet if the CA Institute is successful. The CA Institute has embarked on an exercise to develop an accounting standard also for unincorporated entities in the country which increasingly rely on share-based payments. In …

By Taj Adhav With everything retailers have endured since early 2020, ASC 842 is probably the last thing on your mind. You may even see the term “ASC 842” for the first time. And it’s good However, you may have some catching up to do. ASC 842 is the new accounting standard released by the …

The ATO has reported that the new amended AASB accounting standards will apply from July 1, 2021, which could affect the trust deeds of some SMSF when presenting financial statements. In June 2020, the ATO had informed that new amended accounting standards had been issued by the Australian Accounting Standards Board (AASB). The AASB 2020-2 …

The American Institute of CPAs Executive Financial Reporting Committee has released draft versions of its interpretations of the Financial Accounting Standards Board’s new long-term assurance accounting standard. The standard, which the FASB published in 2018, makes specific improvements to its existing assurance standards for the recognition, measurement, presentation and reporting requirements for long-term contracts issued …

The CA Institute has developed an exposure draft for a revised accounting standard on income taxes, applicable to entities that are not required to adopt Indian accounting standards (Ind AS) notified by the Department of Commercial Affairs. Currently, all listed and unlisted companies – with a net worth of 250 crore and above – are …