Clarification with respect to Companies (Accounting Standards) Amendment Rules 2016

May 02, 2016

MCA vide its General Circular no 04/2016 dated April 27th, 2016 has issued a clarification as to the accounting period for which the accounts needs to be prepared in accordance with the accounting standards , as amended through the Companies (Accounting Standards) Amendment Rules 2016.

After examining the matter, it has been clarified that amended accounting standards should be used for preparing the account for accounting periods commencing on or after the date of notification.

Leave a Reply

Your email address will not be published.