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IFRS Archives - All About Finance https://taxclick.org/tag/ifrs/ Sat, 30 Jul 2016 08:45:36 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://taxclick.org/wp-content/uploads/2021/11/favicon.png IFRS Archives - All About Finance https://taxclick.org/tag/ifrs/ 32 32 Procedure for Convergence of Indian Accounting Standards with IFRS https://taxclick.org/type/ifrs/procedure-for-convergence-of-indian-accounting-standards-with-ifrs/?utm_source=rss&utm_medium=rss&utm_campaign=procedure-for-convergence-of-indian-accounting-standards-with-ifrs https://taxclick.org/type/ifrs/procedure-for-convergence-of-indian-accounting-standards-with-ifrs/#respond Mon, 01 Jun 2015 18:30:00 +0000  Convergence process Subsequently, in pursuance of the Budget Statement of the Finance Minister in February 2014,  (i)         On voluntary basis for financial statements for accounting periods beginning on or after 1 April 2015, with the comparatives for the periods ending 31 March, 2015 or thereafter;  (a)   Companies whose equity and/or debt securities are listed or ... Read more

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]]> https://taxclick.org/type/ifrs/procedure-for-convergence-of-indian-accounting-standards-with-ifrs/feed/ 0 Spirit behind IFRS https://taxclick.org/type/ifrs/spirit-behind-ifrs/?utm_source=rss&utm_medium=rss&utm_campaign=spirit-behind-ifrs https://taxclick.org/type/ifrs/spirit-behind-ifrs/#respond Wed, 04 Mar 2015 18:30:00 +0000 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

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]]> https://taxclick.org/type/ifrs/spirit-behind-ifrs/feed/ 0 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 https://taxclick.org/type/ifrs/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/?utm_source=rss&utm_medium=rss&utm_campaign=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 https://taxclick.org/type/ifrs/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/#respond Fri, 19 Dec 2014 18:30:00 +0000 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 mandatory basis. Implementation of Ind AS for banks, insurance companies and ... Read more

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]]> https://taxclick.org/type/ifrs/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/feed/ 0 Summary of IAS 16 Property Plant and Equipments https://taxclick.org/type/ifrs/summary-of-ias-16-property-plant-and-equipments/?utm_source=rss&utm_medium=rss&utm_campaign=summary-of-ias-16-property-plant-and-equipments https://taxclick.org/type/ifrs/summary-of-ias-16-property-plant-and-equipments/#respond Mon, 11 Aug 2014 18:30:00 +0000 Scope of IAS 16 IAS 16 should be followed when accounting for property, plant and equipment unless another international accounting standard requires a different treatment. Property, plant and equipment are tangible assets that are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes and ... Read more

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]]> https://taxclick.org/type/ifrs/summary-of-ias-16-property-plant-and-equipments/feed/ 0 IFRS – IPSAS – Tools for corporate Governance & Government Governance https://taxclick.org/type/ifrs/ifrs-ipsas-tools-for-corporate-governance-government-governance/?utm_source=rss&utm_medium=rss&utm_campaign=ifrs-ipsas-tools-for-corporate-governance-government-governance https://taxclick.org/type/ifrs/ifrs-ipsas-tools-for-corporate-governance-government-governance/#respond Fri, 06 Jun 2014 18:30:00 +0000 Government owns huge intangible assets and scams predominantly happen in intangible assets. Recently CAG had been valuing intangible assets like spectrum at FAIR VALUE, which is precise base of IFRS. Should we expect further unearthing of scams?  If so, in which intangible assets? Time has come to look at some reporting as a TOOL FOR ... Read more

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]]> https://taxclick.org/type/ifrs/ifrs-ipsas-tools-for-corporate-governance-government-governance/feed/ 0 Summary of IAS 18 Revenue recognition https://taxclick.org/type/ifrs/summary-of-ias-18-revenue-recognition/?utm_source=rss&utm_medium=rss&utm_campaign=summary-of-ias-18-revenue-recognition https://taxclick.org/type/ifrs/summary-of-ias-18-revenue-recognition/#respond Tue, 22 Apr 2014 18:30:00 +0000 Revenue is income arising in the ordinary course of an entity’s activities and it may be called by different names, such as sales, fees, interest, dividends or royalties. It is important to establish the point at which revenue may be recognized so that the correct treatment can be applied to the related costs. IAS 18 ... Read more

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]]> https://taxclick.org/type/ifrs/summary-of-ias-18-revenue-recognition/feed/ 0 Advantages and Disadvantages of adopting IFRS https://taxclick.org/type/ifrs/advantages-and-disadvantages-of-adopting-ifrs/?utm_source=rss&utm_medium=rss&utm_campaign=advantages-and-disadvantages-of-adopting-ifrs https://taxclick.org/type/ifrs/advantages-and-disadvantages-of-adopting-ifrs/#respond Mon, 10 Mar 2014 18:30:00 +0000 International Financial Reporting Standards (IFRS) is the set of accounting standard. IFRS is developed and published by International accounting standard board (IASB). IFRS becomes the global standard for preparation of financial statements. More than 150 countries have adopted the IFRS as accounting standards and most of the countries are on the way of adopting. As ... Read more

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]]> https://taxclick.org/type/ifrs/advantages-and-disadvantages-of-adopting-ifrs/feed/ 0 Why CA should do IFRS? Video https://taxclick.org/type/ifrs/why-ca-should-do-ifrs-video/?utm_source=rss&utm_medium=rss&utm_campaign=why-ca-should-do-ifrs-video https://taxclick.org/type/ifrs/why-ca-should-do-ifrs-video/#respond Sat, 11 Jan 2014 18:30:00 +0000 In following video I have explained the importance of the IFRS in job industries for the Chartered Accountants.

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