Regarding Accounting Standards

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Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2009 Hi I heard that IFRS are applicable from this may 10 attempt for old course. can anybody confirm this?

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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14 December 2009 If you wish to clear CA in first shot; you should update your knowledge immediately whenever any development is there.

It has happened that many times institute ask such questions which look out of syllabus; but the nature of those may be of current one.

Keep in your mind major provisions at least.

IFRS are now talk of town in accountancy world.

Read some overview about it. Major difference between current AS and IFRS is of realisation concept to be applied to fixed assets.

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