IFRS

 

The Developers’ Disclosure Guide to Ind AS 115

Ministry of Corporate Affairs (MCA) brought Ind AS 115 as part of the Companies Amendments Rules 2018. Ind AS 115 replaces Ind AS 11and 18 which are related to revenue and construction contracts. MCA has introduced Ind AS 115 with … Continue reading

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Proposed Update to the IFRS Taxonomy 2018 Released by the IFRS Foundation

On September 20 2018, the IFRS Foundation published Proposed IFRS Taxonomy 2018 Update PTU/2018/1 relating to Common Practice (IFRS 13 Fair Value Measurement), which is now open to the public for consultation. According to the IFRS Foundation, the proposed amendment includes … Continue reading

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IFRS Foundation releases educational modules for the IFRS – SMEs Standard

In August 2018, the IFRS Foundation released an additional seven educational modules in respect of the 2015 version of the IFRS for SMEs Standard. These modules aim to assist anyone who wants to prepare, use, or understand financial statements that … Continue reading

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XBRL impact on the new Ind AS accounting standards

It is no new news that ICAI has been working on IFRS convergence with Indian Accounting Standards for several years now. This converged standard is termed Ind AS popularly. The Ind AS is very similar to the IFRS but has … Continue reading

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Indian Accounting Standards (IAS) convergence with IFRS, April 2015

With the completion of the enactment of Companies Act, 2013, the Ministry of Corporate Affairs has started the process of convergence of the Indian Accounting Standards with the International Financial Reporting Standards (IFRS), which is to be implemented from April … Continue reading

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