CA, CS, CMA : Geopolitical tensions are forcing reassessment of ECL assumptions under IFRS 9. The key takeaway is that forward-looking risk adju...
Goods and Services Tax : Comparison of GST composite and mixed supply with IFRS 15 bundled performance obligations, focusing on tax rate determination and ...
CA, CS, CMA : Summarises how WIP is recognised and measured under Ind AS 115/IFRS 15, emphasising cost tracking, progress measurement, and discl...
CA, CS, CMA : Introduction The International Accounting Standards Board (IASB) has taken a significant leap towards enhancing transparency and c...
CA, CS, CMA : Explore how Ind AS 113 and IFRS 13 guide fair value using market-based and income-based valuation approaches with key differences ...
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...
The International Financial Reporting Standards (IFRS) are well on their way to be implemented and will proceed according to schedule, said Mr Salman Khurshid, Minister of State for Corporate Affairs. Barring banks, insurance companies and small comp
THE Secretary of the Indian Ministry of Corporate Affairs, Mr R Bandhopadyay, had recently visited Canberra and Sydney and held fruitful talks with the Australian regulatory authorities on a variety of issues. The Indian delegation had extensive disc
Accounting Standards are the policy documents issued by the relevant Statutory Authority/ Apex Accountancy body for recognition, measurement, presentation and disclosure of the events and business transactions having economic consequence on an enterp
Barely five months from the final implementation of the IFRS, the finance ministry has directed the apex accounting regulator, Institute of Chartered Accountants of India (ICAI), to set up a committee to harmonise the tax-related issues. As 1,000-plus companies with networth greater than Rs 1,000 crore converge to the international accounting standard from April 1, 2011, there is still lack of clarity as to how corporate houses would adjust their tax dues as per the new accounting standard.
The country’s apex body on accounting standard has cleared way for a change in the way Indian companies account for their employee’s post-retirement benefits like gratuity. Instead of providing for these in profit and loss account, companies can crea
THE government is on track to implement International Financial Reporting Standards (IFRS) from April 1 next year, corporate affairs minister Salman Khurshid said. “The committee of secretaries (CoS) have met and all issues have been addressed,” Mr
India has dropped its plans to introduce a new accounting norm for agriculture as part of the move to converge its accounting standards with globally adopted International Financial Reporting Standards (IFRS). The Institute of Chartered Accountants of India (ICAI), the account standards setting body of the country, has decided not to go ahead with its draft accounting standard for agriculture due to India-specific concerns in assessing the fair value of the agricultural sector.
With less than six months to go before the nation moves towards a globally-recognised accounting system, the government plans to dilute some key provisions relating to foreign exchange differences and overseas borrowings which will make global invest
The Central Board of Direct Taxes (CBDT) is fighting many battles all at once — from the Vodafone tax case to pacifying India Inc on certain provisions of the direct taxes code, to voicing concerns on a hurried shift to IFRS. Haste makes waste. Th
The Reserve Bank of India (RBI) will continue with prudential norms for banks, the Institute of Chartered Accountants of India (ICAI) has said. It also stated that International Financial Reporting Standards-9 (IFRS 9) for banks will not be adopted.
