Stakeholders have sought clarifications with
regard to the accounting period for which the
accounts would need to be prepared using the
Accounting Standards, as amended through the
Companies (Accounting Standards) Amendment
Rules, 2016. The Ministry has clarified that the
amended AS should be used for preparation of
accounts for accounting periods commencing on
or after the date of notification i.e. financial year
commencing 1st April 2016.
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