international accounting standard

Consolidated Financial Statements shall be prepared by an entity if it has control over another entity. ‘Control’ under IFRS, being power to govern the financial and operating policies, covers within its purview even those entities that have been excluded under Indian GAAP. This article attempts to analyse the meaning and scope of the term — Potential Voting Rights — when determining control. Full Article

India's apex accounting standards body is convinced that 80 hours is all it will take for the country's accountants to learn the nuances of an international standard that could soon become the way the world writes its books. Full Article