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
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<strong>IFRS</strong> <strong>in</strong> <strong>India</strong> – Its Status, Overview <strong>of</strong> Concepts and Impact <strong>in</strong> <strong>India</strong>Project structureCentralised vs Decentralised ApproachAdvisor’s <strong>IFRS</strong> implementation servicesAdvisoryservicesLevels <strong>in</strong> <strong>IFRS</strong> implementation ServiceassistanceProvided Centralised AdditionalLocation 1-0TotalA. Base Scenario (Advisory services)Tra<strong>in</strong><strong>in</strong>gYesImplementation workshopYes<strong>IFRS</strong> f<strong>in</strong>ancial sketch for ABCYesLimited (<strong>in</strong> word file)Rs 1x N.A. Rs 1x<strong>IFRS</strong> issue log for ABC LimitedYesOngo<strong>in</strong>g <strong>IFRS</strong> issue resolutionand memo’sYesB. Additional services (Blend <strong>of</strong> advisory services and reasonable <strong>in</strong>volvement <strong>in</strong> actual conversion)Excel template (Broad level)Yesprepared by managementRs 2x X 1 = 2xAssist<strong>in</strong>g management <strong>in</strong> projectplanYes Rs 1x Rs 2x X 0.5 = 0.5x Rs 3.9xGuidance by Advisor dur<strong>in</strong>gRs 2x X 0.2 = 0.4xYesexecution by managementActual implementation - Fullfledge conversion from ledger or No N.A. N.A. N.A.trail balanceTotal Rs 2x Rs 2.9x Rs 4.9xRakesh Agarwal Slide 24
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