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How to Follow IFRS Rules for Group of Companies

Final 1040 views 7 replies

Hi Folks,

 

I am working in ERP, I have a question , related to IFRS standards.

EX:- XYZ company is having multi business  units, (Chemicals, Petrolium, Hardwares, Software Consultancy Service, Franchise, Construction, Property development) they want to maintain each business type as seperate subledger as seperate and only one GL book.

1. What are the rules do we need to follow , while finalising Account Vlues as per IFRS Standards.

 

Regards

Prasanth

Replies (7)

IFRS is accounting standard only.. nothing else

Originally posted by :CA. Amit Daga
" IFRS is accounting standard only.. nothing else "


 

Hi Amit,

 

Thanks for your reply, I want to know how to follow IFRS Standards while defining Accounting Values for the menton Group of company.

 

Regards

Prasanth

your question is not clear to me.. please be clear

Please elaborate your query

Question should be specific

Originally posted by :CA. Amit Daga
" Question should be specific "

Hi,

There is still need to follow IFRS. There is a separate standard IFRS 8 which provides guidelines for presenting various segments of business.


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