impact of ifrs

For May'11 IPCC exams core matter of IFRS will not be applicable. Full IFRS may become applicable for IPCC Nov'11 exams depending upon its timely implementation.

However, ICAI will come out with its notification regarding applicability in exams once they implement it and materials are ready. 

Kindly note that , ICAI guidelines says any amendment shall be applicable to any exam only if it has been effected 6 months prior to particular exam.

After adoption of IFRS in India, there should be six months gap between the adoption date and our exams date, so i hope for May2011 exams those are not applicable but for Nov i think they may be applicable. Let the institute also announce this.