Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: VAT Audit :: ACCOUNTING STANDARDS :: cpt :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: empanelment :: VAT RATES :: TDS :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4%
 
 
ICAI »
 ICAI-Convocation - 2017-18
 Invitation for expression of interest from Social Media Networking Service providers/online marketing solution providers for providing social media solution/ online marketing solutions for publicizing the contents/ activities/other works of the Career Counselling Sub-group under BOS, ICAI by 25th August, 2017.
 Educational Material on Ind AS 16, Property, Plant and Equipment
 The Last Date of Online Filing of Multipurpose Empanelment Form (MEF) for the year 2017-18 is extended from 15th August, 2017 to 25th August, 2017.
 Empanelment of Members to act as Observers at The Examination Centres for The Chartered Accountants Examinations November / December 2017.
 ICAI Awards for Excellence in Financial Reporting' - Invitation to participate in the Competition for the year 2016-17
 ICAI Awards for Excellence in Financial Reporting' - Invitation to participate in the Competition for the year 2016-17
 December, 2017 - Common Proficiency Test (CPT)
 Result of the Chartered Accountants Intermediate (Integrated Professional Competence) Examination held in May 2017 declared.
 Result of the International Taxation - Assessment Test held in May 2017 declared.
 President's Message - August 2017

ICAI Submits Revised IFRS Conversion Road Map Ahead of Annual Audit Season
March, 28th 2014

India’s Institute of Chartered Accountants of India (ICAI) has recommended a new timeline for the convergence of Indian Accounting Standards (AS) with the International Financial Reporting Standards (IFRS).

The revised road map was finalized last week by the ICAI during its annual meeting from March 20 to 22, and submitted to the Ministry of Corporate Affairs (MCA) for approval.

While a phased convergence of AS with the IFRS was first initiated in April 2010 with a target date of April 2015 for full implementation, slow progress led the Ministry of Corporate Affairs to abandon this timeline in favor of a new road map for convergence that was originally expected to be finalized by late March 2014.

According to the revised roadmap from the ICAI, companies with a net worth of over INR5 billion (US$83 million) will be required to transition to IFRS standards from April 1, 2016.

According to the ICAI, this new timeline will provide companies with “ample time” to prepare for the shift.

These changes will only implement the converged standards for consolidated financial statements, with no implications on tax or the computation of managerial remuneration and dividend distribution.

India’s eventual convergence with the IFRS will differ from “adoption” in that the AS will be altered to conform with the IFRS rather than requiring full-fledged adoption of the standards outlined by the International Accounting Standards Board (IASB). This will preserve differing terminologies between the IFRS and AS while adding some new concepts and models.

Dezan Shira & Associates is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. Since its establishment in 1992, the firm has grown into one of Asia’s most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam in addition to alliances in Indonesia, Malaysia, Philippines and Thailand as well as as well as liaison offices in Italy and the United States.

You can stay up to date with the latest business and investment trends across India by subscribing to Asia Briefing’s complimentary update service featuring news, commentary, guides, and multimedia resources.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions