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Ifrs in india

CA Sanjay Bag (CHARTERED ACCOUNTANT) (3340 Points)

11 July 2012

I would like to know expected from when IFRS will be mandatory in India ? is there any suitable course on it. Please let me know.

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5 Replies

CA Nirav Pandya (Assisting to manager accounts) (44 Points)
Replied 16 July 2012

Applicability of IFRS for Indian concerns

Currently IFRS has been made applicable from the reporting year 2011 (or 2011-12, as the case may be) by Ministry of Corporate Affairs for the following:

-Listed companies

-Bank, Insurance companies, mutual funds and Financial Institutions

-Turnover in preceding year exceed INR 1 Billion

-Borrowing in preceding year exceed INR 250 Million

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CA. Mayur (Service) (147 Points)
Replied 16 July 2012

I have disconnect over here with Nirav.

According to my infomration the IND AS Indian version of IFRS was supposed to be effetive from April 2012 but the same got postponed till any further notification issued by MCA. This has been postponed primarily because of tax issues which need to be address before we move to IND AS.

CA. Mayur (Service) (147 Points)
Replied 16 July 2012

You can go for corrospondence course of DIP IFRS being provided by ACCA UK.

Ryan Gale (Employee) (60 Points)
Replied 18 July 2012

checkout the Course Details and Deliverables, Course Objectives, Eligibility and Fees Structure for IFRS ACCA, U.K - www.pironcorp.com/DLP-IFRS.html

Bipul Sharma (CA Final) (28 Points)
Replied 18 July 2012

i agree with mayur....

sanjay Ind As is converged form of IFRS, so in india Ind AS which are notified by MCA will b applicable not actual IFRS but the date of impleamentation is postponded.