Financial reporting

Final 1560 views 5 replies

Aravind..

1262 Points Joined July 2009

As new Indian accounting standards are released, what will be the applicability of accounting standards for exam. will it be Ind As or AS or both? Moreover there are different standards such as Indian GAAP, US GAAP IAS, IFRIC, FASB, SIC other than IFRS, given in the book. If you could give a brief explanation and cross linkages between them, it would be useful.

Replies (5)

CS,CA F,Numrologi TusharSampat

CS CA F Numerologist Astrologer Graph

85935 Points Joined May 2010

TILL ICAI FORMALLY ANNOUNCES ANYTHING NEW ON THE SAID

TOPICS WATEVER IS APPLICABLE FOR MAY '11 ATTEMPT N

WATEVER IS ADDED N NOTIFIED BY ICAI N APPLICABLE FOR NOV'11

EXAM HAS TO E DONE.

CA ADITYA SHARMA

CA IN PRACTICE

16719 Points Joined May 2011

Originally posted by : TusharSSampatM.Com CA,CS-FINAL
	TILL ICAI FORMALLY ANNOUNCES ANYTHING NEW ON THE SAID TOPICS WATEVER IS APPLICABLE FOR MAY '11 ATTEMPT N WATEVER IS ADDED N NOTIFIED BY ICAI N APPLICABLE FOR NOV'11 EXAM HAS TO E DONE.

agreed

Viren

Chartered Accountant

137 Points Joined October 2010

IND AS is not applicable for Nov'11 Examinations

Ravi Agarwal

Articled Assistant

27 Points Joined July 2009

Originally posted by : Viren
	IND AS is not applicable for Nov'11 Examinations

Dear Viren,

Could you please also tell us the source for this information.

Viren

Chartered Accountant

137 Points Joined October 2010

Source of above informations :

https://icai.org/resource_file/22772list_pubnov2011.pdf.

(i) Indian Accounting Standards converged with the IFRS (Known as Ind AS)

The MCA has issued 35 converged Indian Accounting Standards (Ind ‘AS’) without announcing the applicability date. These are the standards which are being converged by eliminating the differences of the Indian Accounting Standards vis-à-vis IFRS. These standards shall be applied for all companies falling under Phase I to Phase III as prescribed under the roadmap issued by the core group. These Ind ASs are not applicable for the students appearing in November, 2011 Examination.