Financials under ifrs

IFRS 173 views 1 replies

CA Bijay Shrestha

Never Give up....No matter what....

858 Points Joined April 2013

Dear Friends,

Many Indian Listed Companies prepare their Financials as per IndAS as applicable and required by Law in India. But they also prepare Financials under IFRS.

Now my doubt is - When these companies are required to prepare Financials under IFRS and for what purpose? Is it Mandatory?

Please kindly suggest.

Replies (1)

Divakar

Student CA Final

11857 Points Joined May 2015

They are preparing their balance sheet for comparison between overseas companies.. As ifrs applied to all UN countries.... And if they hv subsidiary of outside India then they hv to prepare as per that land of laws also..