IFRS in India - jb nagar cpe study circle of wirc of icai

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IFRS in India – Its Status, Overview of Concepts and Impact in IndiaCarve Outs in CIAS from IFRS, Contd…….Comparison between CIAS andIFRS issued by IASBPublicationSource: PwC Publication Moving Towards Future........Indian GAAP.Exposure Draft issued by ICAISlide 32 Slide 32
IFRS in India – Its Status, Overview of Concepts and Impact in IndiaImpact – Indian ExperienceTransitional experience by India Inc. - Common IFRS AdjustmentsName of the entitiesInfosys Technologies LimitedWipro LimitedTata Motors LimitedDabur India LimitedRolta India LimitedNoida Toll Bridge Co LtdTotalNo. ofIFRS adj.15105105StatisticsHigh adjustment(>20% impact on net-worth / net income)Medium adjustment(5% - 20% impact on net-worth / netincome)No. ofIFRS adj.Low adjustment(1% - 5% impact on net-worth / net30income)Total 36High impact adjustments Medium impact adjustments Low impact adjustments• Foreign Exchange Gain or loss ofFCCB liability long term foreigncurrency monetary items36Nature of adjustment identified by India Inc. in their Financial Statement (Publiclyavailable)• Deferred tax• Gain on repurchase of FCCB• Imputed Interest on FCCB• Reversal of Amortised Goodwilland intangibles• Share Based Payment• Difference in revenue recognitionnorms18Slide 33
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IFRS in India - jb nagar cpe study circle of wirc of icai

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