IFRS in India - jb nagar cpe study circle of wirc of icai
IFRS in India - jb nagar cpe study circle of wirc of icai
IFRS in India - jb nagar cpe study circle of wirc of icai
- No tags were found...
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>IFRS</strong> <strong>in</strong> <strong>India</strong> – Its Status, Overview <strong>of</strong> Concepts and Impact <strong>in</strong> <strong>India</strong>Common Experiences (adjustments) from <strong>India</strong>n GAAP to <strong>IFRS</strong>Share Capital• Redeemable preference shares to beclassified as f<strong>in</strong>ancial liability• Cost <strong>in</strong>curred for issuance <strong>of</strong>additional equityDebentures - Premium on redemptionCurrent liabilities• Proposed dividend• Gratuity• Leave• Term<strong>in</strong>ation benefits• Account<strong>in</strong>g for forward coverOther• ESOP Scheme from Parent• Correction <strong>of</strong> errors• Change <strong>in</strong> account<strong>in</strong>g policyDeferred taxes• Recognition <strong>of</strong> deferred taxes onGAAP adjustments.• Recognition <strong>of</strong> deferred taxes onitems directly debited to reserves• Consolidation• Probability v/s Virtually certa<strong>in</strong>Rakesh Agarwal Slide 16
Change language