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Ifrs eligbility
what is the eligibility for ifrs?
Replies (1)
Did you mean IFRS applicability:
Applicability of IFRS is in three phases as outlined below:
| Phase | Date | Coverage | ||||||||
| Phase 1 | Opening balance sheet as of 1 April 2011* |
|
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| Phase 2 | Opening balance sheet as of 1 April 2013* | Companies not listed in phase 1 and having net worth exceeding INR500 crore | ||||||||
| Phase 3 | Opening balance sheet as of 1 April 2014* | Listed companies not covered in the earlier phases | ||||||||
| *If the financial year of a company commences at a date other than 1 April, then it shall prepare its opening balance sheet at the commencement of the immediately following fiscal year. | ||||||||||
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