The National Advisory Committee on Accounting Standards (NACAS) will meet on August 5 to discuss the way forward on adoption of new revenue recognition concepts that the developed world is hesitating to implement.
"We are meeting on August 5 to take a call on this," NACAS Chairman Amarjit Chopra told BusinessLine here.
On the same day, NACAS is also expected to discuss various implementation issues on Ind AS, Chopra added.
The CA Institute is yet to take a call on whether to adopt the Ind AS 115 (equivalent of IFRS 15) from April 1 next year or defer its implementation just as the International Accounting Standards Board is proposing to do for IFRS 15.
Indications are that the central council of the CA Institute will meet on August 4 to discuss this issue and make recommendation to NACAS.