ICAI Releases Comprehensive Handbook on Liquidation Accounting

The Institute of Chartered Accountants of India (ICAI) recently released a handbook called “Liquidation Accounting”.

This handbook examines global accounting standards issued by bodies such as IASB and FASB, as well as India’s legal framework under the Insolvency and Bankruptcy Code, 2016, with a particular focus on corporate insolvency resolution.

The main objective of the handbook is to fill gaps in knowledge and help professionals understand and apply liquidation accounting principles correctly. It provides a complete guide to this specialised area of accounting.

The handbook is organised into eight sections. It starts with an overview, then covers global accounting standards and practices, India’s legal framework, accounting for non-going concerns, and more.

This handbook is beneficial for accounting professionals, auditors, corporate finance advisors, and students who have an interest in the subject of liquidation accounting.