Business Daily from THE HINDU group of publications
Wednesday, May 21, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, May 21, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Accounting Standards Panel to consider approval for derivatives standards K.R. Srivats New Delhi, May 20 The National Advisory Committee on Accounting Standards (NACAS) is to meet on May 26 to consider for approval two important accounting standards relating to financial instruments, including derivatives. “I am told that NACAS will meet on May 26 to consider AS-30 and AS-31,” Mr Ved Jain, President, Institute of Chartered Accountants of India (ICAI), said. An approval from NACAS would enable the Centre to take a call on these two standards and notify them under Company Law. While AS-30 is Accounting Standard on ‘Financial Instruments: Recognition and Measurement’, AS-31 is Accounting Standard on ‘Financial Instruments: Presentation’ The Central Council of the ICAI had recently approved Accounting Standard on ‘Financial Instruments: Disclosure’ (AS-32). So far, the Centre has notified AS 1-29 on the basis of the recommendations of NACAS. More Stories on : Accounting Standards | Forex | Derivatives Markets
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