IFRS Notes aims to provide an update on key developments related to Ind AS and IFRS implementation in India.
IFRS Notes aims to provide an update on key developments related to Ind AS and IFRS
The Ministry of Corporate Affairs (MCA) through its notification dated 16 February 2015 laid down the road map for implementation of Indian Accounting Standards (Ind AS) by companies other than banking companies, insurance companies and Non-Banking Financial Companies (corporate road map).
The ITFG in its meeting considered certain issues received from the members of the Institute of Chartered Accountants of India (ICAI), and issued its Bulletin 11 on 1 August 2017 to provide clarifications on nine issues in relation to the application of Indian Accounting Standards (Ind AS).
The Schedule III to the Companies Act, 2013 (2013 Act) became applicable to all companies for the preparation of financial statements for financial years beginning on or from 1 April 2014.
The Finance Act, 2017 (the Act) notified on 31 March 2017, has introduced a separate formula for computation of book profit for the entities that prepare financial...