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.
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Replies (5)
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.
| Originally posted by : TusharSSampatM.Com CA,CS-FINAL | ||
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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. |
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agreed
IND AS is not applicable for Nov'11 Examinations
| Originally posted by : Viren | ||
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IND AS is not applicable for Nov'11 Examinations |
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Dear Viren,
Could you please also tell us the source for this information.
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.
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