Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT RATES :: TDS :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: due date for vat payment :: VAT Audit :: Central Excise rule to resale the machines to a new company :: empanelment :: list of goods taxed at 4% :: form 3cd :: articles on VAT and GST in India :: ACCOUNTING STANDARD
 
 
« ICAI »
 Exposure Draft of Revised SA 299, “Joint Audits” for Comments
 CPE Events 26th June - 1st July 2017
  Summary of MCA Notification dated 13.06.2017 to give further exemptions private companies as per Section 462 of the Companies Act 2013
 Summary of MCA Notification dated 13.06.2017 to give further exemptions private companies as per Section 462 of the Companies Act 2013
 Exemption to Private Companies u/s 462 of The Companies Act 2013 as per Ministry of Corporate Affairs Notifications Dated 5th June, 2015 and 13th June, 2017
 Four Weeks Residential Programme to be held from 31st July, 2017 to 27th August, 2017 at Centre of Excellence, Hyderabad for Men Participants only.
 Next batch of the Certificate Course on Valuation at Bangalore from 15th July, 2017.
 CPE Events 19th June - 24th June 2017
 Post-implementation Review - IFRS 13 Fair Value Measurement
 Disclosure Initiative - Principles of Disclosure
 Volume XXXV of the Compendium of Opinions

Fair value spoiler in IFRS adoption
June, 12th 2008

listed Satyam Computer Services rushed to embrace the new global accounting standard, International Financial Reporting Standards (IFRS), much ahead of April 2011 deadline. In fact, the countrys fourth-largest software exporter posted its audited financial results for FY08 as per IFRS, saying it saw considerable value in its adoption. Drug maker and NYSE-listed Dr Reddys Laboratories has similar plans to adopt IFRS at the earliest. Infosys says its prepared to adopt IFRS, too.

Most Indian companies listed in the US or the UK are expected to follow suit, but the momentum may not be quite the same in the case of companies listed in India. Besides, the road to adoption is not easy. Typically, companies who are listed abroad or seek to attract funds from private equity or tap global bond markets would be quick to adopt IFRS, says ICAI former president TN Manoharan.

Globally, there is a convergence of view that an account of an entity should be understood by all countries. Thus, adoption of IFRS will reduce accounting compliance costs for companies listed overseas. But not all listed companies may be upbeat on early adoption of IFRS. Even adhering to the deadline may be tough. One of the stumbling blocks is the recognition of financial asset at fair value the amount for which an asset can be exchanged or liability settled between willing, knowledgeable parties in an arms length transaction.

The fair value concept, on the face of it, is easy to apply. But when you get into the nitty-gritties, it is tough to implement. The market should be mature and have depth for easy adoption, says ICAI president Ved Jain.
Agrees Insurance Regulatory Development Authority member actuary R Kannan. The fair value treatment of some of the assets of insurers may pose a challenge in the absence of reliable indices.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

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