The Companies (Indian Accounting Standards) (Amendment) Rules, 2016
mauli...@in.pwc.com
Dear All
The MCA has issued the Companies (Indian Accounting Standards) (Amendment)
Rules, 2016. These rules contain Ind AS roadmap for NBFCs and also notified
Ind AS 11, Construction Contracts and Ind AS 18, Revenues
and omitted Ind AS 115, Revenue from Contracts with Customers.
The rules have also amended following standards:
Ind AS 101: First time adoption of Indian
Accounting Standards
Ind AS 103: Business Combinations
Ind AS 104: Insurance Contracts
Ind AS 105: Non-current Assets Held for Sale and Discontinued Operations
Ind AS 107: Financial Instruments: Disclosures
Ind AS 109: Financial Instruments
Ind AS 110: Consolidated Financial Statements
Ind AS 112: Disclosure of Interests in Other entities
Ind AS 1: Presentation of Financial Statements
Ind AS 2: Inventories
Ind AS 19: Employee Benefits
Ind AS 23: Borrowing Costs
Ind AS 28: Investments in Associates and Joint ventures
Ind AS 32: Financial Instruments: Presentation
Ind AS 34: interim Financial Statements
Ind AS 36: Impairment of Assets
Ind AS 37: Provisions, Contingent Liabilities and Contingent Assets
Ind AS 38: Intangible Assets
Ind AS 40: Investment Property
These amendment rules will come into
force on the date of their publication in the Official Gazette. For full
text of the notification please refer link given >>>
http://mca.gov.in/Ministry/pdf/Notification_30032016_I.pdf
Regards
Maulik Shah
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