The Institute of Chartered Accountants of India said the new revenue standard brings in a comprehensive and robust framework for recognition, measurement and disclosure of revenue.
The chartered accountants’ apex body, ICAI, has revised its education and training system by including several contemporary topics — GST and CSR — Parliament was informed on Tuesday.
“The curriculum of the Chartered Accountants (CA) courses has been recently revised by the Institute of Chartered Accountants of India (ICAI),” Minister of State for Corporate Affairs Arjun Ram Meghwal said in a written reply to the Rajya Sabha.
He further said several contemporary and relevant topics including Goods and Services Tax (GST); integrated as well as Corporate Social Responsibility (CSR) reporting; and global financial reporting standards have been included in the syllabus.
Also, chapters have been introduced on Islamic finance, start-up finance and small and medium enterprises (SMEs).
Certain redundant topics on indirect taxes — services tax, excise duty, value added tax (VAT) — have been deleted.
Published on August 8, 2017
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