CA, CS, CMA : IASB proposes amendments to IFRS 9 and IFRS 7 for better accounting of renewable electricity contracts, addressing practical issue...
Finance : A rights issue is basically when a company offers existing shareholders a right to purchase additional shares of the company at a ...
Corporate Law : Explore proposed amendments to IAS 32, IFRS 7, and IAS 1 in the Exposure Draft by IASB. Learn how the changes address challenges i...
CA, CS, CMA : Exposure Draft on International Tax Reform- Pillar Two Model Rules would introduce a temporary exception to accounting for deferre...
CA, CS, CMA : To contribute to standard setting at international level, Exposure Draft of third edition of IFRS for SMEs Accounting Standard is...
CA, CS, CMA : Through this ED, the IASB has proposed to amend IFRS 16, Leases. The proposed amendment would specify the method a seller-lessee u...
CA, CS, CMA : Discussion Paper Business Combinations—Disclosures, Goodwill and Impairment issued by the IASB for comments The implementation o...
The International Accounting Standards Board (IASB) today clarified its requirements for offsetting financial instruments by issuing Offsetting Financial Assets and Financial Liabilities (Amendments to IAS 32). The amendments address inconsistencies in current practice when applying the offsetting criteria in IAS 32 Financial Instruments: Presentation.
The IASB is responsible for the development and promulgation of International Financial Reporting Standards (IFRSs), required or permitted for use by companies in more than 100 countries. IFAC supports the independent International Public Sector Accounting Standards Board (IPSASB), which is responsible for developing International Public Sector Accounting Standards (IPSASs). IPSASs are used by an increasing number of public authorities, including national and local governments, agencies and regulatory bodies from around the world, and by many international organisations.
The International Accounting Standards Board (IASB) today published for public comment a proposed amendment to IFRS 1 First-time Adoption of International Financial Reporting Standards. The proposed amendment sets out how a first-time adopter would account for a government loan with a below-market rate of interest when they transition to IFRSs.
The IASB issued today an Interpretation clarifying the requirements for accounting for stripping costs in the production phase of a surface mine. The Interpretation was developed by the IFRS Interpretations Committee, the interpretative body of the IASB. The Interpretations Committee was asked to clarify when and how to account for stripping costs (the process of […]
The International Accounting Standards Board (IASB) published today proposals to define investment entities as a separate type of entity that would be exempt from the accounting requirements in IFRS 10 Consolidated Financial Statements.
The International Accounting Standards Board (IASB) has requested the government to adopt the global accounting standards IFRS in toto or at least allow companies to voluntarily do so and not go ahead with the convergence approach.Stating it is in India”s own interest to adopt the International Financial Reporting Standards (IFRS, as India”s problems will soon be the problems of the global community too, IASB Board member Prabhakar Kalavacherla said we (IASB) strongly encourage adoption as against convergence.
IFRS 10 Consolidated Financial Statements includes a new definition of control, which is used to determine which entities are consolidated, and describes consolidation procedures. IFRS 11 Joint Arrangements describes the accounting for joint arrangements with joint control; proportionate consolidation is not permitted for joint ventures (as newly defined)
The International Accounting Standards Board (IASB) on Wednesday flayed India’s dilly-dallying on implementing global accounting norms IFRS and said that it is undermining the country’s global standing. New Delhi needs to curb its anxiety to be different and stop mongering about the many unsubstantiated differences and instead should get into an honest dialogue with the IASB said Prabhakar Kalavacherla, a board member of the London-based IASB.
THE ICAI and the Association of International Accountants, UK have signed Joint Declaration to benefit both, the Chartered Accountants and the students who pursue CA course. An Honorary membership of the AIA was also conferred upon the President of t
IASB Exposure Draft on Severe Hyperinflation (proposed amendment to IFRS 1) (Comments to be received by November 26, 2010) – (19-11-2010) The International Accounting Standards Board has issued this Exposure Draft on Severe Hyperinflation a proposed amendment to IFRS 1 First-time Adoption of International Financial Reporting Standards. The amendment proposes guidance on how an entity […]
