CA. {Member Name} Ji,

FAQs on Ind – AS
3 Fastest replies with most correct answers will receive mementos.

Read the following questions and send the answers at voiceofca@gmail.com at the earliest.

S.No.

Questions

 

1

Who has the power to Notify Ind AS?

 

2

On which date Ind AS became applicable in India?

 

3

Ind AS is Adoption of IFRS or Converged with IFRS?

 

4

How Many Ind AS are prevailing today? (give no.)

 

5

Does Ind AS Prescribe any presentation format of Financial statements? (Yes/No)

 

6

Can Entity Rectify any inappropriate policy by giving disclosures in notes or by explanatory information? (Yes/No)

 

7

Whether it is Mandatory to apply all Ind AS during preparation of Financial statements? (Yes/No)

 

8

Indian Accounting Standards (Ind ASs) are Standards prescribed under Section ____of the Companies Act, 2013?

 

9

An entity shall not present any items of income or expense as extraordinary items, in the statement of profit and loss or in the notes? (Yes/No)

 

10

When items of income or expense are material, an entity shall disclose their nature and amount separately? (Yes/No)

                                                 Useful Updates on GST:

i)[ Contribution by : CA. Bimal Jain ]
ITAT allows deduction of CSR expenses incurred by Toyota
(Please click for detail)

ii) Sponsorship fees for Lifetime Achievement Awards not treated as Business Expenditure
(Please click for detail)
 

 

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