Please Help: AS 14
Posted Date : 27-Sep-2011 , 10:29:31 pm | Posted By anu jain
1 Given at ICAI website-: The MCA has issued 35 converged Indian Accounting standards (IND “as”) without announcing the applicability date. These are the standards which are being converged by eliminating the difference of the Indian accounting standard vis-a-vis IFRS. These standards shall be applied for all companies falling under the phase I to phase III as prescribed under the roadmap issued by the core group. These Ind ass are not applicable for the students appearing in NOV, 2011 examination
(Please tell me m I understanding in right sense or NT? The difference b/w IND AS and IFRS is because of “interest of pooling method/ amalgamation in nature of merger”. This method is applicable in India and not anywhere else… now this is revised and it’s no longer applicable in India also. But for NOV IPCC this method is applicable.
(Please tell me m I understanding in right sense or NT? The difference b/w IND AS and IFRS is because of “interest of pooling method/ amalgamation in nature of merger”. This method is applicable in India and not anywhere else… now this is revised and it’s no longer applicable in India also. But for NOV IPCC this method is applicable.
Category : Accounts | Answers : 0 | Comments : 1 | Hits : 749
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CA VIPIN GARG
28-Sep-2011 , 08:49:52 amDear Anu, You are somehow understand in the right way but yet there is some difference in IND AS and IFRS, you can't say at all that there is no difference in IND AS and IFRS. As far as applicability is concerned all the as which are notified and issued by the ICAI will be applicable in exams and not the IND AS which is been notified by the MCA. Hope you got the answer, have a nice day Anu Ji..........