Accounting Standards Questionnaire

Offered By  The Institute of Chartered Accountants of India
Accounting Standards Questionnaire image
About The Institute of Chartered Accountants of India

Session

Duration: 3 Weeks

Commitment: 2 Hours/Week

Language

English

Course Format

Community

What will you learn

 

About this Course

Financial statements are intended to meet common information needs of a wide range of users including shareholders, bankers, potential investors, creditors, regulators and public at large. Accounting Standards can be viewed as standarised language of business to communicate high quality information in financial statements based on principles of transparency, consistency and also comparability and reliability. Accounting standards are a set of principles which entities follows while preparing the financial statements providing a standardised way of describing the entity’s financial position and financial performance.

The Institute of Chartered Accountants of India (ICAI), being the premier standard-setting body in the country, has constituted Accounting Standard Board (ASB) on 21st April, 1977, with the objective to formulate accounting standards to enable the Council of ICAI to establish a sound and robust financial reporting standards framework in India. While formulating accounting standards, ASB is expected to keep in mind applicable laws, existing usages and economic environment in India. ASB shall also take into consideration the developments at international level in the accounting standards setting area so that the national standards are aligned with prevailing global accounting principles and conventions.

In India, there are many micro and small non-corporate entities such as, sole proprietorship, partnership firms, HUFs, Association of Persons, Trust, Society etc to which Accounting Standards may not mandatorily be applicable under any law. However, ICAI members auditing these financial statements are required to check application of the accounting standards in the same. Accordingly, we are conducting a survey for collecting information from practicing Chartered Accountants for providing their views and sharing their experience on application of Accounting Standards in context of their clients which are micro and small non-corporate entities.

Members submitting their views can claim 2 (two)Unstructured CPE hours after filling the complete questionnaire.

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Who would benefit?

  • Members of ICAI
  • NA
 

Course Syllabus

This course comprises the following modules:

 

Prerequisites

Members holding Certificate Of Practice

 

About Certification

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Instructor

NA
 
 

Publisher Book

Publisher Book

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