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>Annexure 1: Concepts relatively new <strong>in</strong> <strong>India</strong>n GAAPFirst time adoption <strong>of</strong> <strong>IFRS</strong>Optional ExemptionsBus<strong>in</strong>ess comb<strong>in</strong>ationsProperty, plant and equipment,<strong>in</strong>vestment properties, <strong>in</strong>tangiblesEmployee benefitsCumulative translation differencesTransition date for subsidiaries,associates and jo<strong>in</strong>t venturesLeasesBorrow<strong>in</strong>g costStandards<strong>in</strong> force atreport<strong>in</strong>g dateInvestments <strong>in</strong> subsidiaries,associates and jo<strong>in</strong>t control entities.Compound <strong>in</strong>strumentsFair value measurement <strong>of</strong> f<strong>in</strong>ancialInstruments on <strong>in</strong>itial recognitionDesignation <strong>of</strong> f<strong>in</strong>ancial assets andF<strong>in</strong>ancial liabilitiesShare-based paymentsDecommission<strong>in</strong>g liabilitiesInsurance contracts*Service concessions arrangementsRakesh Agarwal Slide 56
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