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Home » Blog » Exposure draft on Revised Accounting Standard on Segment Reporting (AS 108) issued by ICAI

Exposure draft on Revised Accounting Standard on Segment Reporting (AS 108) issued by ICAI

  • Blog|News|Account & Audit|
  • < 1 minute
  • By Taxmann
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  • Last Updated on 30 April, 2022

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Revised Accounting Standard on Segment Reporting (AS 108); ICAI;

On the basis of discussions held at various standard-setting forums, ICAI decided to revise Accounting Standards (AS) in line with the Indian Accounting Standards (Ind AS), as notified by the Ministry of Corporate Affairs. Accordingly, the Accounting Standard Board (ASB) of ICAI has decided to maintain consistency in the numbering of AS with Ind AS numbering.

Therefore, the entire set of revised Accounting Standards will consist of 32 standards also incorporating a standard on the transition from existing AS to Revised AS at various stages of formulation. In this regard, 28 Revised AS have been developed and approved by the Council, so far.

In this direction, the Exposure Draft of revised AS 108, Segment Reporting has been issued by the ASB, taking existing AS 17 as a base. The said Exposure draft also includes the Major differences between AS 108 and Ind AS 108 & between AS 108 and AS 17.

Comments on the said Exposure Draft shall be submitted by May 28, 2022.

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied
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Author TaxmannPosted on April 30, 2022Categories Blog, News, Account & Audit

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