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Showing posts from February, 2015

IFRS 9 (Ind AS 109) - India first country to mandatorily early converge!!

Abstract of the Ministry of Corporate Affairs (MCA) Notification - Companies (Indian Accounting Standards) Rules, 2015  G.S.R dated 16 Feb 2015 Effective from: 1-April-2015 Obligation to comply with Indian Accounting Standards (Ind AS) The Companies and their auditors shall comply with the Indian Accounting Standards (Ind AS) specified in Annexure (39 standards in total) to these rules in preparation of their financial statements and audit respectively, in the following manner, namely:-  any company may comply with the Indian Accounting Standards (Ind AS) for financial statements for accounting periods beginning on or after 1st April, 2015, with the comparatives for the periods ending on 31st March, 2015, or thereafter;  the following companies shall comply with the Indian Accounting Standards (Ind AS) for the accounting periods beginning on or after 1st April, 2016, with the comparatives for the periods ending on 31st March, 2016, or the...