This is an update to let you know that the Institute of Chartered Accountants of India (ICAI) has recently rolled out a ‘Guidance Note on Accounting by e-commerce entities’ which deals with accounting by e-commerce entities in respect of certain issues relating to revenue and expense recognition.
This guidance note deals with key issues of e-commerce entities and aims at providing guidance on various accounting issues unique to e-commerce entities.
Further, the Guidance Note applies to companies preparing financial statements under Companies (Accounting Standard) Rules, 2006, as amended under Section 133 of the Companies Act, 2013 and entities such as LLPs, partnership firms.
For a detailed read, please refer to the attached document or the hyperlinked source given below.
Source: Institute of Chartered Accountants of India
