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
Latest Expert Exchange
General »
 Government likely to withdraw tax notice on free banking services
 Senior Citizens Savings Scheme Rules, 2004
 How salaried individuals can avail full potential of I-T benefits
 The Central Board of Direct Taxes unveiled new Income Tax Return forms for assessment year 2018-19 on 5 April. Although the manner of filing returns remains the same as compared to last year, certain changes have been incorporated in the new ITR forms.
 Income Tax efiling: Must-do steps to file your IT return for FY 2017-18 on time till you get Form 16
 What are the tax filing deadlines for financial year 2017-18?
 How income tax department can penalise you for under-reporting, misreporting income
 Start your tax planning right now
 Government confident of meeting fiscal deficit, tax revenue targets
 Clarification with respect to the E-way Bill System
 Here is how you can save on taxes

International Financial Reporting Standards carve-outs wide-ranging
May, 16th 2011

Converged Indian Accounting Standards are notified with some major carve-outs and deferrals of certain critical standards and interpretations to suit the local purposes apart from major departures for the first time convergence. The Ministry is reportedly open for more carve-outs if the industry requires.

The carve-outs originally suggested by the ICAI in the Exposure Draft were very minimal and restricted to the definition of related party disclosures whether to include brothers, sister, father mother of key individuals as close family members which was considered as matching with the social environment of India, and eliminating the corridor approach' in accounting for post-employment benefit schemes.

Carve-outs in the finalisation stage range from presentation issues to fundamental IFRS accounting principles such as elimination of fair value option in investment property, deferral of lease interpretation and service concession arrangements, widening the scope of other comprehensive income, deferral of certain exchange fluctuation loss, adopting percentage of completion basis revenue recognition in real estate development business, to list a few.

For more information click below

Source: http://www.thehindubusinessline.com/features/mentor/article2021479.ece?homepage=true

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multimedia Presentations Multimedia Solutions 3D Solutions Corporate Presentations Business Presentations Multimedia Presentation India M

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