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As applicability ??

RONIT (CA CS BCOM) (194 Points)

17 February 2016

Old AS is applicable or not for final may 16 or ifrs

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Sathish M (Management Accountant) (40581 Points)
Replied 17 February 2016

Old AS is applicable, however AS 30, 31 and 32 on the topic ‘Accounting and Reporting of Financial Instruments’ are not applicable.

Sathish M (Management Accountant) (40581 Points)
Replied 17 February 2016

The following on Ind - AS is applicable :

Topic of “Introduction of Indian Accounting Standards (Ind AS);

Comparative study of ASs vis-a-vis Ind ASs;

Carve outs/ ins in Ind ASs vis-à-vis International Financial Reporting Standards (IFRSs)” has been made applicable from May, 2016 Examination in place of “Overview of International Accounting Standards (IAS)/International Financial Reporting Standards (IFRS), Interpretations by International Financial Reporting Interpretation Committee (IFRIC), Significant differences vis-a-vis Indian Accounting Standards; Understanding of US GAAPs, Applications of IFRS and US”