Finology
Finology

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

IFRS to be implemented from FY 2015-16

Posted on 22 December 2014,    
 30837 Views   Share Report

The Finance Minister in the Budget speech 2014-15 announced that the Indian Accounting Standards (Ind AS) i.e. accounting standards based largely on with International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis. Implementation of Ind AS for banks, insurance companies and NBFC’s shall be announced at a later date by their respective regulators. Necessary steps to implement this decision are under way. 

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today.

Tags :  


Comments

Popular News




Follow taxation Exam20 Book Book

Browse by Category






img