Thursday, October 15, 2015

ACCOUNTING

Revenue Recognition- New Standard Deffered

1.The National Advisory Committee on Accountings standards (NACAS) has suggested deferral of
implementation of Ind AS 115 without specifying a new date. NACAS has also not recommended any voluntary adoption of this standard by companies in India. It is now for the Ministry of Corporate Affairs to take a final call on the deferral as well as on voluntary early adoption by companies in India.

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