Can anyone tell the importance IFRS carries in Accounts? How to prepare IFRS from exam point of view? The study materials provided by ICAI for new syllabus do not give much details about it. It just shows a comparative table & some running notes on emergence of IFRS. Should i study them thoroughly or just knowing the titles is enough? Time is running out & I don't have any idea to waste it. Please help me.
Menu
IFRS applicability for Final (new syllabus)
Replies (1)
For your final exam. Comparative table of IFRS is more enough. you dont look at the entire procedure of IFRS. So, I would suggest you to look at the following aspects for your exam.
a) Expansion of IFRS? Ans:- International Financial Reporting Standard
b) Whether IFRS is change entirely of our AS?
Answer: No, IFRS is not a line by line addition of changes in AS. It talks about some disclosure requirement which is not their in our AS and also it remove some inconsistence of AS with IFRS.
c) Applicability of IFRS in India? Ans:- Based on company Listing and Networth applicability of Convergence of IFRS will come into effect on 2011,2013 and 2014.
d) finally, you look at the comparative table as given in your text book.
All the best for ur successful exam.
Recent Threads
- Best NISM course for an Accountant
- Calculate IT on LTCG AND STCG for the FY 2025-26
- Heard and Seen Around - Your Daily Economic Quick
- Returning to India - Residency confusion
- About CMP-08
- RCM List on GST
- Resignation of Previous Auditor
- Summary of GST Notification 18/2025 (Effective 1 N
- Heard & Seen Around – Your Daily Economi
- ITC restriction for Food manufacturing units
Related Threads
CAclubindia
