CA, CS, CMA : Explore how ESG integration into IFRS standards redefines corporate accountability, focusing on sustainability disclosures, global...
CA, CS, CMA : Learn about OCI under IND AS/IFRS, its components, classifications, and the logic behind recycling. Understand its impact on finan...
CA, CS, CMA : IASB proposes amendments to IFRS 9 and IFRS 7 for better accounting of renewable electricity contracts, addressing practical issue...
CA, CS, CMA : Detailed Analysis of Differences Between Indian Accounting Standards (Ind AS) and International Financial Reporting Standards (IFR...
CA, CS, CMA : Explore the intricacies of revenue recognition under Ind AS 115 and IFRS 15, Revenue from Contracts with Customers. Understand the...
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 Amendments to the Classification and Measurement of Financial Instruments (Proposed amendments to IFRS 9 and IFR...
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 : Staff draft of IFRS Sustainability Disclosure Taxonomy is issued by the IFRS Foundation for the public views. This draft sets out ...
CA, CS, CMA : IFRS Foundation document issued for comments: IFRS Taxonomy 2021-Proposed Update 3 Initial Application of IFRS 17 and IFRS 9-Compa...
Corporate Law : Implementation of Ind AS in the Insurance Sector in India has been deferred for a period of two years and the same shall now be im...
Company Law : In the meeting held on 29th March, 2010, the Core Group deliberated and approved the Roadmap recommended by Sub-Group I in respec...
Company Law : The Press Information Officer, Press Information Bureau, Ministry of Information and Broadcasting, with the request that the above...
India being an agriculture based economy, many activities are being carried out in way to raise live animals, crop harvesting & selling etc and apart from its dealing within an unorganized sector, there are many corporate sector (either listed or not) which directly or indirectly operate into such agricultural activities in India.
CA Anuj Agrawal There are many situations where an entity needs to incur substantial amount of money to ensure proper use/ access to its existing Assets by way of constructing roads, electricity transmission lines, water well etc. which is generally being called as Enabling Assets. These are eventually not in the name of the entity […]
In current Indian accounting system, all lands are being shown as fixed assets in financial statements of any Company and are being depreciated based on their lives accordingly.
Fixed assets can be classified as tangible & intangible, IFRS, on Property, Plant & Equipment deals with tangible fixed asset except assets held for capital appreciation.
IFRS is based more on principles when compared with US GAAP which is more rule based standard. One of the reasons for convergence to IFRS is the need for a business to present its financial statements on the same basis as its foreign competitors in order to make comparisons easier.
Even today, when one hears people from Nilgris, Tamilnadu, India lost Re10 Crores to an unknown financial company, one’s mind goes back to 1930, when the great depression wiped out the whole capital of many investors in USA. Investors in USA craved for accounting standards.
Exposure Draft issued by the International Accounting Standards Board (IASB) on Definition of a business and accounting for previously held interests (proposed amendments to IFRS 3 Business Combinations and IFRS 11 Joint Arrangements), is for comment only.
In this article, author attempts to highlight the IFRS importance and its few impacts on Oil & Gas sector. A closer look at IFRS requires in depth discussion, however this article is written for giving readers the basic overview and hence is not an exhaustive view for taking any opinion.
It is well known that companies all over the world have become more and more internationally oriented during last few decades. They create fusion, make investment, conduct trade and co-operate over country borders. International Financial Reporting Standards (IFRS) is becoming the global language of business with over 40% of the world having moved to IFRS in the past few years.
In this article, author attempts to highlight the basic concept of foreign currency translation and its impact on financial statement as per FASB 52. Please note this article is for giving the overview of its basic concept and it is not the exhaustive view for taking any opinion.
