ICAI New MSME Criteria 2024: Game-Changer for Accounting Standards | AS Applicability Simplified

Описание: 🚨 ICAI has revised the classification criteria for Non-Company Entities (NCEs) for the applicability of Accounting Standards effective from April 1, 2024.
In this video, we break down the latest announcement issued in August 2024, covering:

🔹 Definition of MSMEs and Large Entities
🔹 Turnover and Borrowing thresholds
🔹 Revised exemptions and relaxations for MSMEs
🔹 Replacement of Level I, II, III, IV classification
🔹 Key impact areas for practitioners and preparers of financial statements

Understand how this affects your clients or organization and prepare your financial reporting accordingly.

📘 Based on ICAI Announcement: 433rd Council Meeting – August 2024.
🎓 Must watch for CAs, CFOs, Accountants, and Audit Professionals.

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Link to download the ICAI Announcement:
https://resource.cdn.icai.org/82761as...

Disclaimer: This video is intended for educational purposes only. The information and opinions expressed in this video are based on my understanding and interpretation of the subject matter. The content may include relevant as of the video's release date. As regulations are dynamic, they may have changed by the time you watch this video. While I strive for accuracy, the content should not be considered exhaustive or a substitute for professional advice. Always conduct your own research and consult with qualified professionals for specific guidance.