Rabin S. (C.A. Final) (136 Points)
03 November 2011what are the main differences between IAS and IFRS...? and which one is india going to converge basically and primarily.....? does the converged accounting standards & indian accounting standards mean the one and same thing or they are different standards....?what one should focus for may 12 exam....is it IAS or IFRS......? please tell concisely....i m not 100% clear....
ashish gupta
( student)
(1922 Points)
Replied 03 November 2011
IAS and IFRS are same.
In India IFRS will be adopted but with necessary modifications. And the process of carving out (modification) is in progess. The converged Accounting Standards are given the name INDAS.
CAclubindia
