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 ministry of corporate affairs (MCA) does not plan to push for an ordinance to ensure India meets the deadline on conforming to International Financial Reporting Standards (IFRS), reversing its earlier stance, according to two officials at the min
After missing its date with the Goods and Services Tax and the Direct Taxes Code, the government is also likely to miss the deadline for another major reform initiative – implementation of International Financial Reporting Standards (IFRS) from the n
With International Financial Reporting Standards (IFRS) to be made mandatory from April 1 next year, the Institute of Chartered Accountants of India and National Advisory Committee on Accounting Standards have drawn up all but three standards to be f
The Standing Committee of Parliament, which thoroughly examined The Companies Bill, 2009, has observed that there are several matters included in the Bill, which need modification with a view to harmonizing them with the International Financial Repor
The financial year 2011-12 is going to be more vibrant, especially for the accounting professionals, with the implementation of Direct Taxes Code (DTC) and the convergence of Indian accounting standards with IFRS (International Financial Reporting Standards), according to Mr G. Ramaswamy, Vice-President of the Institute of Chartered Accountants of India (ICAI).
Issue:-In late June 2010 the International Accounting Standards Board and US Financial Accounting Standards Board issued proposed changes to the recognition of revenue. The proposals aim to increase the consistency and comparability between the way revenue is recognised by entities, regardless of the industry they operate in.
Union Finance Minister, Shri Pranab Mukherjee asked the Public Sector Banks (PSBs) to accelerate the financial deepening else it could constraint the full potential of the Indian economy. The Finance Minister said this is essential to maintain high GDP growth trajectory.
The Institute of Chartered Accountants of India soon proposes to start coaching classes for students through virtual classrooms, the Institute’s Vice-President, Mr G Ramaswamy, told journalists here on Sunday. “We will facilitate more virtual classrooms where students can access lectures and also download revisionary test papers, supplementary study material and suggested answers to prepare for exams,” he said.
India and Japan have signed a historic Memorandum of Understanding (MOU) on IFRS. It was signed in Japan between the Core Group on IFRS constituted by the Ministry of Corporate Affairs and the IFRS Council, Japan in the presence of Shri R. Bandhyopadhyay, Secretary, Ministry of Corporate Affairs. Shri Amarjit Chopra, President, ICAI, and Shri Noriaki Shimazaki, Chairman of the International Affairs Committee of the IFRS Council of Japan signed this MOU. An India-Japan Forum 2010 has also been formally inaugurated.
The Reserve Bank of India has constituted up a Working Group under the Chairmanship of Shri P R Ravi Mohan, Chief General Manager, Department of Banking Operations & Development (DBOD), Reserve Bank of India, to address the implementation issues and facilitate formulation of operational guidelines in the context of International Financial Reporting Standards (IFRSs) convergence for the Indian banking system.
