India Inc that had to switch to the new accounting regime, compatible with the International Financial Reporting Standards (IFRS), beginning April has been given a breather by the Government. IFRS , has been put off for now, but the government is going ahead with the reforms in the way companies present their financials. Large companies [...]
Tax implications of IFRS to be clarified in the budget
February 26, 2011 by
In order to bring about more transparency in the manner in which companies make financial disclosures, the Government had earlier announced that India Inc will have to adopt new accounting norms compatible with International Financial Reporting Standards (IFRS) with effect from April 2011. To begin with firms in the 50 stock Nifty index, companies listed...
10 Sure shot changes IFRS will bring about in company’s Balance Sheets
December 16, 2010 by
Already tired of hearing that hackneyed phrase “roadmap for IFRS convergence”? What is the difference between convergence and adoption anyway? Adoption is nakal without akal (be a copycat); convergence is nakal with akal (copy but use your brains as well!). Thankfully, India at least in the accounting arena has decided not to be a copycat....
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