Hello Friends ...
Can Anybody Plz solve this query of mine ...?
What is the exact difference b/w IFRS and IND AS ??
I suppose that IFRS in their coverged form are IND AS .... M i right ???
Now if i am right, as per per road map on IFRS - these are applicable from 01/04/2011(to some companies). But IND AS are not yet notified by the govt.
Then how come companies will be preparing financial statements as per IFRS / IND AS as these are4 not yet notfied ???
Hi Tarun,
You are right, in India converged standard to IFRS ae known as IndAS. There are some conceptual/treatment changes in IFRS and IndAS.
This roadmap was issued in 2009-10 but as per the press release issued by MCA in Feb 11, IFRS (in India called IndAS)although IndAS have been issued but implementation have been deferred till further notification. Till date no further notification issued by MCA and the roadmap issued earlier has no relevance now.
Thanks,
Sandeep
Got It .... !!
Thanks my dear friend .... :-)
hello sandeep is there any new notification regarding IND AS applicabiltiy
Aggarwal Sarawagi and Co
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