Financial Daily
from THE HINDU group of publications
Tuesday, July 24, 2001
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Financial Daily from THE HINDU group of publications Tuesday, July 24, 2001 |
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ICAI set to revise AS-7
K.R.Srivats
NEW DELHI, July 23
THE Accounting Standards Board (ASB) of the Institute of Chartered Accountants of India (ICAI) has finalised the exposure draft of the proposed amendment to the Accounting Standard on `Accounting for Construction Contracts' (AS-7).
``We are planning a total revision of the existing Accounting Standard on Accounting for Construction Contracts'', Mr N.D. Gupta, President, ICAI, told Business Line here. AS-7 deals with accounting for construction contracts in the financial statements
of contractors.
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