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Indian Accounting system and foreign accounting

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Querist : Anonymous (Querist)
02 January 2010 Is there any different between indian accounting and foreign accounting?
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shakuntala chhangani

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shakuntala chhangani (Expert)
04 January 2010 yes, e.g. our deferred tax is based on income whereas IFRS deferred tax is based on liability. there are many such areas where Indian accounting system differs from foreign accounting system. Regards, CA Shakuntala Chhangani

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