Applicability of as to non-corporate entities

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....pplicability of as to non-corporate entities<br> Query (Issue) Started By: - Bijay Shrestha Dated:- 20-10-2016 Last Reply Date:- 21-10-2016 Accounting - Auditing<br>Got 1 Reply<br>Companies Law<br>Is ....

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....it legally mandatory to follow AS for Non-corporate entities like Proprietors, firms, etc. (Other than Companies) like companies?? is there any legal consequences or punishments if they do not use AS....

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.... issued by ICAI? because in many cases they have their own set of accountings and policies. Please kindly advise. Read more at: http://www.caclubindia.com/forum/applicability-of-as-to-non-corporate....

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....-entities-374184.asp Reply By Ganeshan Kalyani: The Reply: In my view accounting standards are applicable to both corporate and non-corporate as well.<br> Discussion Forum - Knowledge Sharing ....