Canadian gaap vs indian accounting standard

IFRS 4345 views 1 replies

Hello Friends

I am a CA ( India) currently studying for my CPA final exams in Canada. I am wondering is there any published source of information which states the differences between Indian Accounting standards and Canadian GAAP. This is due to the fact, that i am fresh with Indian Standards and not Canadian GAAP. I have two alternatives. 

 

1) To Study Canadian Gaap from the scratch.

 or

2) Refresh Myself with Indian Accounting standards and just note the key differences between Indian Accounting Standards  and Canadian GAAP. 

 

Any help would be greatly appreciated. Thanks

Replies (1)

Canada has adopted IFRSs in full from 1.1.11. So, in effect, Canadian GAAPs are similar to IFRSs as issued by IASB. To answer your query, you could refer to differences between Indian GAAPs and IFRSs that are available over internet and would serve your purpose. But make sure that you refer to the latest IFRSs version as updated and refrain from older versions. 


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