Ifrs applicable to pe
This query is : Resolved
30 June 2012
Hi,
I am compiling applicability of IFRS on PE (Private Equity Fund) as Trust. In case some one has know, please respond.
Thanks
I am compiling applicability of IFRS on PE (Private Equity Fund) as Trust. In case some one has know, please respond.
Thanks
30 June 2012
If it is in a jurisdiction where the stautory GAAP is IFRS, then yes.
30 June 2012
question here is what all accounting standards would be applicable.
30 June 2012
All IFRS. There is no scope exemption for trust in any standard.
30 June 2012
Trust is not covered under in any of the classification, which are given by MCA to be applicable w.e.f. 2011,2012,2013&2014.
30 June 2012
The above replies were not for Indian Trust.
In Europe where IFRS is applied, there is no specific exemption from trust.
Thus if India does not carve out then i suppose it will be applicable to the trust, probbaly with the last set of entities that will be requried to converge.
There are also IFRS for SME categories introduced by IASB. will have to see what will be MCAs approach towards that.
In Europe where IFRS is applied, there is no specific exemption from trust.
Thus if India does not carve out then i suppose it will be applicable to the trust, probbaly with the last set of entities that will be requried to converge.
There are also IFRS for SME categories introduced by IASB. will have to see what will be MCAs approach towards that.
30 June 2012
In case a TRUST has invested more than 50% in a pvt ltd company. whether IND AS 27 - Consolidated Fin stateemnt would be applicable. or for 20% to 50% IND AS 28 would be applicable - Investment in associate.
30 June 2012
if more than 50% (presumed control) - Consolidation
If no control but 20% or more - Associate.
If no control but 20% or more - Associate.
06 July 2012
There is a new exemption in pipeline under IFRS for Investment Entities.
Expected to be rollwed out in second half of 2012.
Regards,
Sanjay Chauhan
Expected to be rollwed out in second half of 2012.
Regards,
Sanjay Chauhan
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
