SEBI’s clarification regarding applicability of Ind AS to disclosures in offer documents

CIRCULAR SEBI/HO/CFD/DIL/CIR/P/2016/47                                                                             March 31, 2016 To, All Recognized Stock Exchanges All Registered Merchant Bankers Dear Sir/Madam, Sub: Clarification regarding applicability of Indian Accounting … [Read more...]

Spirit behind IFRS

Q 1 What are the primary differences with IFRS?  A 1 GLOBAL vs LOCAL SUBSTANCE vs FORM GROUP vs STANDALONE ENTITY vs COMPANY PRINCIPLES vs RULES FAIR VALUE vs HISTORICAL COSTS BALANCE-SHEET vs P and L  Q 2 What is advantage India in whole process?  A 2 That is what one refers as GLOBAL vs … [Read more...]

International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis

The Finance Minister in the Budget speech 2014-15 announced that the Indian Accounting Standards (Ind AS) i.e. accounting standards based largely on with International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a … [Read more...]