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Please suggest IFRS

Deepak (CA) (424 Points)

26 December 2011

Dear friends,

I want to make my career in Audit so pls. suggest me whether i should do IFRS or not????

Is IFRS means Revised Indian Accounting Standard????

I want to work in India only.....

Pls. Help

Thanks & Regards,

Deepak G

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6 Replies

CA LOVELY ARORA (C.A. B.Com (H) Graduate) (2151 Points)
Replied 26 December 2011

Go for IndAS..... i.e. Indian Accounting Standards.... which are also known as Converged IFRS......

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vishnupriya (CA Final) (1418 Points)
Replied 26 December 2011

IFRS are not equal to revised accounting standards.

Please go to this link to understand difference:

https://wirc-icai.org/wirc_referencer/Acconting%20&%20Auditing/Comparison%20of%20IFRS%20and%20Indian%20Accounting%20Standards.htm

Yes! You have to know IFRS, you have to study and gain sufficient knowledge in IFRS.

If not now, may be in next 5 years, India is going to implement IFRS Completely,

Without knowing IFRS, how would you audit accounts?

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Deepak (CA) (424 Points)
Replied 27 December 2011

Thanks,

Pls can anyone share the exact knowledge about the REVISED AS...

vishnupriya (CA Final) (1418 Points)
Replied 27 December 2011

Well Deepak, I got a link & a file, please go through them, you can understand better.

https://ifrs.icai.org/inner/resources/faqs_ciasc_ifrs.asp

See attached file to know the Difference between Ind AS (Commonly known as Revised AS) and Existing AS

Attached File : 224087 894463 difference.pdf downloaded: 120 times

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CA LOVELY ARORA (C.A. B.Com (H) Graduate) (2151 Points)
Replied 27 December 2011

Vishnupriya.... as it is rightly said that there is difference between IndAS and IFRS.....
and in India, it is IndAS which would be implemented..... so, why are you quoting reference to IFRS?.... One should go ahead with IndAS.... which is not exactly similar to IFRS.....

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Naresh (PMO-Excecutive) (25 Points)
Replied 28 December 2011

Hi Folks,

Good Day!

Please anyone of you advice me to how to grow in career... As am completed MBA finance and am working wipro Technologies from last 4 years as Senior Excecutive.

Now want learn something new for growth in all Prospectives..I heard about of IFRS (KPMG) & Indian Accounting Standard Courses.

Please advice me which course have full demand in future Market to grow.

Thanks

Naresh