Friday, April 15, 2016

Companies (Accounting Standards) Amendment Rules, 2016

MCA has notified Companies (Accounting Standards) Amendment Rules, 2016 vide Notification dt 30th March 2016, to omit AS 6 on Depreciation Accounting and to amend / substitute the following Accounting Standards:

  • AS 2: Valuation of Inventories
  • AS 4: Contingencies and events Occurring after Balance Sheet Date
  • AS 10: Property, Plant and Equipment
  • AS 13: Accounting for Investments
  • AS 14: Accounting for Amalgamation
  • AS 21: Consolidated Financial Statements
  • AS 29: Provisions, Contingent Liabilities and Contingent Assets

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