Companies (Accounting Standards) Amendment Rules, 2011

Posted: 13/01/2012 in Accounting Standards, Company, MCA, Notifications, Rules

TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART – II, SECTION 3, SUBSECTION (i)]

GOVERNMENT OF INDIA, MINISTRY OF CORPORATE AFFAIRS

Notification- F. No. 17/133/2008-CL-V- dated 29.12.2011

GSR….:- In exercise of the powers conferred by clause (a) of sub‑ section (1) of Section 642 read with sub-section (1) of Section 210A and sub-section (3C) of Section 211 of the Companies Act, 1956 (1 of1956), the Central Government in consultation with the National Advisory Committee on Accounting Standards, hereby makes the following amendment in the Companies (Accounting Standards) Rules, 2006, hereinafter called the said rules, namely:-

1.  (1) These rules may be called the Companies (Accounting Standards)  Amendment Rules, 2011.

       (2) They shall come into force on the date of their publication in the Official  Gazette.

2. In the said rules, in the annexure under the heading “B. Accounting Standard”, in the sub-heading “Accounting Standard (AS) 11″ relating to “The Effects of Changes in Foreign Exchange Rates”, in paragraph 46, for the words and  figures “46. In respect of accounting periods commencing on or after 7th December, 2006 and  ending on or before 31′ March, 2012″, the following shall be substituted, namely :-

“46. In respect of accounting periods commencing on or after 7th December, 2006 and ending on or before 31st  March, 2020.

Foot Note: The Principal regulations were published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (i) vide GSR 739(E), dated the 7th December, 2006 and amended vide notification number G.S.R. 212(E), dated the 27th March, 2008 and subsequently amended by GSR No. 225(E), dated the 31st March, 2009 and GSR No. 378(E), dated the 11th May, 2011.

Click here to download the above Notification- G.S.R. dated 29.12.2011.

Source: Ministry of Corporate Affairs.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s