The Committee on Accounting Standards for Local Bodies (CASLB) was constituted as a separate Committee in March, 2005, with the main objective of formulating Accounting Standards for Local Bodies (ASLBs). So far, the Committee has issued twelve ASLBs and ASLB 18, ‘Segment Reporting’ is likely to be issued shortly. Moving forward in this direction, the Committee has finalised the Exposure Draft of ‘The Conceptual Framework for General Purpose Financial Reporting by Local Bodies’ along with consequential amendments in ASLB 17, ‘Plant, Property and Equipment’. |
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(Download Exposure Draft) | ||||
(CA. Shyam Lal Agarwal) Chairman, Committee on Accounting Standards for Local Bodies |