Summary of IFRS 1 to 8

Hi

amit nice yaar

summary gives overview of the IFRS

we need to participate but no body is ready to participate

Yes you are right. Lets start with some basic things. I have small query. I can understand that 13 optional exemptions and 4 mandatory exceptions are provided under IFRS 1. But don't you think that optional exemptions will make the Financial Statements of different entitites uncomparable ?

I have on e query regarding IAS 19-Employee benefits.

Because actuarial gains and losses may fluctuate and reverse over time, IAS 19 does not require immediate recognition of actuarial gains and losses. Instead, an employer may choose to only recognize a portion of the actuarial gains and losses to the extent that the net cumulative unrecognized actuarial gains and losses at the end of the previous reporting period exceeded the greater of: (a) 10 percent of the present value of the defined benefit obligation at that date and (b) 10 percent of the fair value of any plan assets at that date (corridor mechanism).
 

What does THAT DATE actually refer to ?

Sachin,, in the ifrs there is some thing called Corridor Approach.. which is not exist in our standard.. and in case of employees benefit we need to do the treatment accroding to corridor approach.. and this is nothing only corridor approch.. just read onece u will understand.. but read with example.. ater that still if u have any confusion let me know i will try to help u

Thanks a lot for replying. I just want to know that are you aware of any good book on IFRS which is available in the market (which has examples) ? I checked at ITO, Delhi around 2.5-3 months back and the only book which I was able to find was not very good. I dont rememmber the name of author or publisher but it had a "White Cover" in front.

Sachin .. buy pwc manual.. in the google.. search the cch publication.. Do one thing call in 09880568955 Srinivas.. This guy is sitting in bangalore.. ask him for delhi.. he is a representive of cch publication in india

Can we have comparasion between IFRS V/s IAS

Hi Sachin,

The date referred to is the date of acturial valuation.

Valuation is required atleast once in 3 yrs

Valuation is required atleast once in 3 yrs

hi amit ,

i am working MNC as executive payroll.

is it useful to me if i joined in IFRS

Please give your valueable suggestion to which course i need to join

Regarding IAS 19, " THAT DATE " means as given below:

(a) 10% of the present value of the defined benefit obligation at the beginning of the year; and

(b) 10% of the fair value of the plan assets at the same date.

This is called Corridor approach