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...
CA, CS, CMA : Unlock the complexities of Accounting Standards, Ind AS, and IFRS with our comprehensive overview. Navigate the global standards s...
CA, CS, CMA : Understand Contingent Liabilities & Assets & how to treat them when preparing Financial Statements as per AS, IND AS & IFRS...
CA, CS, CMA : International Public Sector Accounting Standards (IPSASs) are a set of accounting standards issued by the IPSAS Board (IPSASB) fo...
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...
This quick guide may be useful for professional accountants in practice or those working in Industry or Financial services firms like Banks/FIs, to calculate IFRS values for certain common business contracts which are usually high valued and significant in business operations, into the financial statements. So, here we go!
IFRSs (IND ASs being the Indian version) are now applicable in India for all listed and non-listed majors too including the requirement to prepare group financial statements. Chartered accountants in particular have to apply due diligence to measure and recognise fair values of financial assets, financial liabilities, financial derivatives and various other items on such bases as have been specified in relevant IFRSs.
Exposure draft of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors for comments The IASB has issued the exposure draft of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. The last date for sending comments is 27 July 2018. In this Exposure Draft, the International Accounting Standards Board (Board) proposes to […]
Financial reporting under IFRSs is deeply connected with risk management. Entity which decides to adopt IFRSs should also ensure that it has a robust risk management (RM) system. This is for the reason that different IFRSs give references to the entity’s market and credit risk documented policy which helps determine if an asset has or has not been transferred.
Sandeep Dasgupta & Risha Gandhi IFRS adoption in India: With globalization of businesses and imminently increasing need for transparent, comparable financial information across markets, the International Accounting Standards Board (IASB) embarked on developing, a single set of high quality, understandable and enforceable global accounting standards or International Financial Reporting Standards (IFRS) that require transparent and […]
Corporate valuations is the main step towards corporate finance activity (which includes capital raising, M&A) and towards meeting regulatory/accounting requirements or for management purposes.
Issue 1: A Ltd. has given an interest free loan to its subsidiary company B Ltd. Both companies are covered under Phase I of Ind AS roadmap. B Ltd. has recognised the differential of present value of loan amount and its carrying amount as per previous GAAP as ‘Equity’ in its standalone financial statements prepared as per Ind AS. A Ltd.
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 implemented effective 2020-21.
As you are kindly aware, the existing Accounting Standards (AS) and the Indian Accounting Standards (Ind AS) are based on the IFRS issued by the International Accounting Standards Board (IASB). The IASB, before issuing the new/amendments to IASs, issues the Exposure Draft for public comments.
The IASB has issued a request for stakeholders to tell the Board about their experience with the accounting standard that explains how to measure the ‘fair value’ of assets and liabilities, IFRS 13. The aim is to check whether the Standard meets its objectives.
