Implementation of Accounting Standards in Educational Institutions of Department of Higher Education

The ICAI along with persons nominated by the Ministry of Human Resources Development (HRD) has presented a report on implementation of Accounting Standards in educational institutions of Department of Higher Education to Shri Kapil Sibal, Hon’ble Minister for HRD, Government of India. The report has been presented considering different accounting and financial reporting practices being followed by educational institutions in India. It has been recommended that all educational institutions should be mandated to apply accrual basis of accounting and Accounting Standards issued by the ICAI should be made mandatory to educational institutions

 

Report on Implementation of AS in Educational Institutions.pdf