Articles by Sanjay Chauhan (IFRS)

Functional Currency under IFRS and its Implementation

Posted by Sanjay Chauhan (IFRS) 17 August 2012 32722 Views

This article covers the Functional Currency aspect differentiating with Presentation Currency as laid in Ind AS 21 i.e. IAS 21, which is totally new concept when India converges to IFRS. Introduction India has laid do

Currency Translation Reserve

Posted by Sanjay Chauhan (IFRS) 09 July 2012 76896 Views

A. Objective: This topic covers accounting for non integral operations under AS 11 in specific and its comparison with IAS 21. B. Back Ground: With the intent to Go Global, Indian entrepreneurs are now expanding their business focus in variou

Stock Options - Measurement, Accounting & Disclosure

Posted by Sanjay Chauhan (IFRS) 26 June 2012 33994 Views

A. Stock Options Stock Options are getting more prevalent as part of compensation package in many entities in India especially MNCs that are listed on Stock Exchanges in India and abroad, either directly or through the stock of its holding Company

Compulsory Convertible Instruments under Revised Schedule VI

Posted by Sanjay Chauhan (IFRS) 10 May 2012 37061 Views

Facts of the case Indian Entities have issued Foreign Currency Compulsory Convertible Bonds / Compulsory convertible debentures. How should the same be classified under revised Schedule VI? Revised Schedule VI Excerpt from Guidance

International Financial Reporting Standard (IFRS): Principle based Standard

Posted by Sanjay Chauhan (IFRS) 09 May 2012 26387 Views

IFRS are considered a "principles based" set of standards that establish broad rules for accounting.Rules-based standards such as US GAAP have an accounting rule for almost every type transaction. There are various oversight bodies whose objective is