ICAI releases Exposure Drafts of Guidance Notes on Financial Statements of Non-Corporate Entities and Financial Statements of LLPs
ICAI – Exposure – Exposure Drafts – Financial Statements – Non-Corporate Entities – Financial Statements of Non-Corporate Entities – Financial Statements of LLPs – LLPs – LLP – Taxscan
ICAI – Exposure – Exposure Drafts – Financial Statements – Non-Corporate Entities – Financial Statements of Non-Corporate Entities – Financial Statements of LLPs – LLPs – LLP – Taxscan
The Institute of Chartered Accountants of India (ICAI) has released the Exposure Drafts of Guidance Notes on Financial Statements of Non-Corporate Entities and Financial Statements of Limited Liability Partnerships (LLPs).
The Accounting Standards Board (ASB) of the ICAI in June 2022 had issued Technical Guides on “Financial Statements of Non-Corporate Entities” and “Financial Statements of Limited Liability Partnerships” to deal with applicability of Accounting Standards and recommending formats of the financial statements to these entities. The ASB has now proposed to prescribe the formats for presentation of financial statements of these entities in the form of Guidance Notes. The objective of proposed Guidance Notes is to further ensure that these formats of financial statements are followed to achieve standardisation and enhance the quality of the financial reporting by these entities.
The Exposure Drafts of Guidance Notes can be assessed at the following links for comments with the last date of comments being March 8, 2023.
The Accounting Standards Board (ASB) of the ICAI in June 2022 had issued Technical Guides on “Financial Statements of Non-Corporate Entities”to deal with applicability of Accounting Standards and recommending formats of the financial statements to these entities. The ASB has now proposed to prescribe the formats for presentation of financial statements of these entities in the form of Guidance Note. The objective of proposed Guidance Note is to further ensure that these formats of financial statements are followed to achieve standardisation and enhance the quality of the financial reporting by these entities.
The Exposure Draft of Guidance Note can be assessed at the following link for comments with the last date of comments being March 8, 2023
To Read the full text of the Order CLICK HERE
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