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>Impact – <strong>India</strong>n ExperienceTransitional experience by <strong>India</strong> Inc. - Common <strong>IFRS</strong> AdjustmentsName <strong>of</strong> the entitiesInfosys Technologies LimitedWipro LimitedTata Motors LimitedDabur <strong>India</strong> LimitedRolta <strong>India</strong> LimitedNoida Toll Bridge Co LtdTotalNo. <strong>of</strong><strong>IFRS</strong> adj.15105105StatisticsHigh adjustment(>20% impact on net-worth / net <strong>in</strong>come)Medium adjustment(5% - 20% impact on net-worth / net<strong>in</strong>come)No. <strong>of</strong><strong>IFRS</strong> adj.Low adjustment(1% - 5% impact on net-worth / net30<strong>in</strong>come)Total 36High impact adjustments Medium impact adjustments Low impact adjustments• Foreign Exchange Ga<strong>in</strong> or loss <strong>of</strong>FCCB liability long term foreigncurrency monetary items36Nature <strong>of</strong> adjustment identified by <strong>India</strong> Inc. <strong>in</strong> their F<strong>in</strong>ancial Statement (Publiclyavailable)• Deferred tax• Ga<strong>in</strong> on repurchase <strong>of</strong> FCCB• Imputed Interest on FCCB• Reversal <strong>of</strong> Amortised Goodwilland <strong>in</strong>tangibles• Share Based Payment• Difference <strong>in</strong> revenue recognitionnorms18Slide 33
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