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 2: Common adjustments from <strong>India</strong>n GAAP to <strong>IFRS</strong>Current Liabilitiese. Account<strong>in</strong>g <strong>of</strong> Forward Cover – NewQ The company has entered <strong>in</strong>to forward contracts hav<strong>in</strong>g its gross premium20 for a period <strong>of</strong> 6 months. As on the year end 3 months has expired, thecompany amortized Rs.10 under <strong>India</strong>n GAAP, it also obta<strong>in</strong>ed Mark toMarket on the said forward cover for the rema<strong>in</strong><strong>in</strong>g term <strong>of</strong> maturity wherethe Market Value is Rs.16.AnswerA Cr NW 6, Cr NI 6Rakesh Agarwal Slide 78
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