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

More documents

Recommendations

Info

IFRS in India – Its Status, Overview of Concepts and Impact in IndiaAnnexure 1: Concepts relatively new in Indian GAAPConsolidationOur experienceCompanies need to develop group accounting manual and reporting packages forpreparation of consolidated financial statement with uniform accounting policy andIFRS compliant figuresEnsuring uniform accounting policy for all the consolidating entity is difficultDetermination of functional currency is complex under certain situationRakesh Agarwal Slide 38
IFRS in India – Its Status, Overview of Concepts and Impact in IndiaAnnexure 1: Concepts relatively new in Indian GAAPBusiness combinationAsset or business acquisition?What is a business?IFRS 3 (R) defines it as:“ an integrated set of activities and assets conducted and managed forproviding….return to investor or economic benefit to stakeholders….generally consistsof inputs and processes applied to those inputs , and resulting in outputs that are, orwill be used to generate revenues”.If goodwill is present in a transferred set of activities and assets, the transferred setshall be presumed to be a business.Rakesh Agarwal Slide 39
Page 3 and 4: Transitioning to IFRSIFRS across th
Page 5 and 6: The Preface and The FrameworkPrefac
Page 7 and 8: IFRS in India - Its Status, Overvie
Page 17 and 18: Essentials of IFRSConversion Approa
Page 27 and 28: Rakesh AgarwalPreparation ofIFRS fi
Page 37: IFRS in India - Its Status, Overvie
Page 89 and 90:
IFRS in India - Its Status, Overvie
Page 91 and 92:
Annexure 3Select IFRS tools andpubl
Page 93 and 94:
Page 95 and 96:
show all

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

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?