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treatment of differences arising from indian GAAP and IFRS

Others 1343 views 2 replies

how do we treat the differences arising from the application of IFRS while reporting in a country following IFRS for preparation of financial statements?

do we have to maintain two set of books if we have to report to a holding company in a country following IFRS or we will simply treat the differences?

Replies (2)
No need to keep two set of books, Juridictions of country where holding co's Registered office located shall prevails, Rest difference you may if wanted to disclose by management then you may show by the way of notes forming parts of accounts.
Notes with Reconciliations of profits/losses,By Indian GAAP and IFRS,is sufficient.


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