HIiiiiii friends
can any one temme what is difference between IFRS and Internaitonal AS.
is it mandatory for india and from when
7 Replies
sriniwas
(Finance professional)
(136 Points)
Replied 12 November 2009
Dear Mayur,
First of all, hearty congratulations on qualifying CA. Please go through this small article on IFRS and convergence in India context. It is a beautiful article comprehensively summarizes all bais aspects you need to know about IFRS. Here goes the link: file:///F:/vasista/IFRS/The%20Hindu%20Business%20Line%20%20%20For%20smoother%20IFRS%20convergence.htm
regards,
Sriniwas VN.
Vasista Foundation
CA Vasudha
(CA)
(47 Points)
Replied 12 November 2009
i think IAS & IFRS are same except that whatever was introduced before it was called IAS, now these accounting standards are called IFRS and many of these IAS are now amended and introduced in the form of IFRS
sriniwas
(Finance professional)
(136 Points)
Replied 12 November 2009
Yeah, Vasudha is correct. IFRS board took over from IASB board and the same is the case with many of the IAS.
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 21 November 2009
yes she is rite.. ias is part of ifrs only.. old standard names with ias and new one is names with ifrs.. its like.. nayi glass mai purani sarab.. hahah
CA. Rishabh Mittal
(CA in Practice)
(1077 Points)
Replied 24 November 2009
W.e.f June 2003, first IFRS was published. Before that, all Accounting standards released by IASB were named as IAS.
CA. Rishabh Mittal
(CA in Practice)
(1077 Points)
Replied 24 November 2009
W.e.f June 2003, first IFRS was published. Before that, all Accounting standards released by IASB were named as IAS.
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 26 November 2009
All those standard which is issued by IASB they named IFRS only..
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