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ICAI clears new format for profit & loss account
Mint Chennai
|August 02, 2025
The way Indian firms present their profit and loss statements is set for a makeover, which could provide investors with a clearer picture of what's driving profits and where the money goes.
The Institute of Chartered Accountants of India (ICAI) has approved a new reporting format under Ind AS 118, bringing it one step closer to implementation, two persons aware of the development said.
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