Ifrs

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Vinay Kumar Soni

Vinay Kumar Soni (Querist)
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02 February 2015 Dear sir, what effect existing AS due to applicability of IFRS.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 February 2015 Converged Indian Accounting Standards (Ind ASs) hosted by MCA & ICAI on their website. The date on which these will come into force is yet to be notified. Check out from below link--

http://www.mca.gov.in/MinistryV2/standards.html

http://www.icai.org/post.html?post_id=7543

Finance Minister Sri Arun Jaitley in his speech during Budget 2014 had stated that he wants IND AS to be implemented in 2015. Right now IND AS has not been made applicable and Accounting Standards continue to apply. So just wait and watch.

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