Ifrs applicable to pe
This query is : Resolved
30 June 2012
Hi,
I am compiling applicability of IFRS on PE (Private Equity Fund) as Trust. In case some one has know, please respond.
Thanks
I am compiling applicability of IFRS on PE (Private Equity Fund) as Trust. In case some one has know, please respond.
Thanks
30 June 2012
If it is in a jurisdiction where the stautory GAAP is IFRS, then yes.
30 June 2012
question here is what all accounting standards would be applicable.
30 June 2012
All IFRS. There is no scope exemption for trust in any standard.
30 June 2012
Trust is not covered under in any of the classification, which are given by MCA to be applicable w.e.f. 2011,2012,2013&2014.
30 June 2012
The above replies were not for Indian Trust.
In Europe where IFRS is applied, there is no specific exemption from trust.
Thus if India does not carve out then i suppose it will be applicable to the trust, probbaly with the last set of entities that will be requried to converge.
There are also IFRS for SME categories introduced by IASB. will have to see what will be MCAs approach towards that.
In Europe where IFRS is applied, there is no specific exemption from trust.
Thus if India does not carve out then i suppose it will be applicable to the trust, probbaly with the last set of entities that will be requried to converge.
There are also IFRS for SME categories introduced by IASB. will have to see what will be MCAs approach towards that.
30 June 2012
In case a TRUST has invested more than 50% in a pvt ltd company. whether IND AS 27 - Consolidated Fin stateemnt would be applicable. or for 20% to 50% IND AS 28 would be applicable - Investment in associate.
30 June 2012
if more than 50% (presumed control) - Consolidation
If no control but 20% or more - Associate.
If no control but 20% or more - Associate.
06 July 2012
There is a new exemption in pipeline under IFRS for Investment Entities.
Expected to be rollwed out in second half of 2012.
Regards,
Sanjay Chauhan
Expected to be rollwed out in second half of 2012.
Regards,
Sanjay Chauhan
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