IFRS Archives - Tax Heal

Proposed amendments to IFRS 8 and IAS 34

CA Satbir Singh — Tue, 25 Apr 2017 14:26:18 +0000

Improvements to IFRS 8 Operating Segments (Proposed amendments to IFRS 8 and IAS 34) – (24-04-2017)

Exposure Draft issued by IASB on Improvements to IFRS 8 Operating Segments (Proposed amendments to IFRS 8 and IAS 34) is for comments only. Comments on the Exposure Draft need to be received by May 26, 2017.

In July 2013, the International Accounting Standards Board published its Report and Feedback Statement Post-implementation Review: IFRS 8 Operating Segments. In that document, IASB concluded that IFRS 8 was functioning as expected. Nevertheless, the IASB identified some areas that warranted further investigation. Because of those further investigations, the Board now proposes amending IFRS 8.

Invitation to comment

ASB invites comments on the Exposure Draft from the public. The downloadable version of the draft is available at:

http://www.ifrs.org/Open-to-Comment/Documents/ED-Proposed-amendments-to-IFRS8-IAS34-March-2017.pdf

How to comment

Comments should be submitted using one of the following methods:

1. Electronically:	Visit at the following link (Preferred method): http://www.icai.org/comments/asb/
2. Email:	Comments can be sent to: commentsasb@icai.in
3. Postal:	Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi 110 002

Further clarifications on this Exposure Draft may be sought by e-mail to asb@icai.in

IFRS 9 Amendment – Prepayment Features with Negative Compensation

CA Satbir Singh — Tue, 25 Apr 2017 14:21:51 +0000

Prepayment Features with Negative Compensation (Proposed amendments to IFRS 9) – (24-04-2017)

Exposure Draft issued by IASB on Prepayment Features with Negative Compensation (Proposed amendments to IFRS 9) is for comments only. Comments on the Exposure Draft need to be received by May 15, 2017.

This Exposure Draft, published by the International Accounting Standards Board, proposes amendments to IFRS 9 Financial Instruments. These amendments are designed to address the concerns of some interested parties about how IFRS 9 classifies particular prepayable financial assets.

Invitation to comment

ASB invites comments on the Exposure Draft from the public. The downloadable version of the draft is available at:

http://www.ifrs.org/Current-Projects/IASB-Projects/Symmetric%20Prepayment%20Options/Documents/ED-Proposed-amendments-to-IFRS9.pdf

How to comment

Comments should be submitted using one of the following methods:

1. Electronically:	Visit at the following link (Preferred method): http://www.icai.org/comments/asb/
2. Email:	Comments can be sent to: commentsasb@icai.in
3. Postal:	Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi 110 002

Further clarifications on this Exposure Draft may be sought by e-mail to asb@icai.in

Consolidation under Ind AS – IFRS Converged Standards-Book

CA Satbir Singh — Mon, 24 Apr 2017 12:16:56 +0000

Consolidation under Ind AS – IFRS Converged Standards Paperback – 2016

by CA Parveen Kumar (Author)

Publishing consolidated financial statements was not compulsory for Indian companies till last year. The Companies Act 2013 (‘Act’) mandates preparation of consolidated Financial Statements for all the companies having subsidiaries. The Act also establishes the principle that financial statements shall comply with Accounting Standards. From April 1, 2016 Indian Corporate will be required to implement IFRS (International Financial Reporting Standards) converged Accounting Standards (known as Ind-AS) in phased manner. These new standards bring in subjectivity and complexities posing challenge for preparers, auditors and users of financial statements. This book contains guidance on preparing consolidated financial statements under Ind-AS regime. With practical illustrations it demonstrates how these principles will be applied. With Model Ind-AS accounting policies and illustrative disclosures for few sectors.

Price Rs 995. Click to buy Online

Paperback: 480 pages
Publisher: CCH – A Wolters Kluwer Business; First edition (2016)

Other Books on Accounting Standard

*Accounting Standards*	iGAAP 2016 A guide to Ind AS reporting – Deloitte
	Handbook on Indian Accounting Standards (Ind AS) -2017 Edition Book by Rajkumar S Adukia
	Ind AS Book ; Illustrated Guide to Indian Accounting Standards ; 2017 Edition
	Quick Guide to Indian Accounting Standards (Ind AS) (3rd Edition 2017) -New Book
	Indian Accounting Standards – IND AS – 2017 Edition Book by taxmann

IFRS for Small and Medium-sized Entities.

CA Satbir Singh — Fri, 28 Oct 2016 13:21:40 +0000

The IASB’s October 2016 IFRS for SMEs Update is a staff summary of news relating to the IFRS for Small and Medium-sized Entities.

Illustrative Consolidated Financial Statements as per IFRS

CA Satbir Singh — Fri, 28 Oct 2016 13:16:53 +0000

Illustrative Consolidated Financial Statements

This edition contains the illustrative consolidated financial statements for Good Bank (International) Limited and subsidiaries for the year ended 31 December 2016. The illustrative financial statements are prepared in accordance with IFRS in issue at 30 September 2016 and effective for annual periods beginning 1 January 2016.

Commentary

Companies in certain jurisdictions may be required to comply with IFRS approved by local regulations, for example, listed companies in the European Union (EU) are required to comply with IFRS as endorsed by the EU. These financial statements only illustrate compliance with IFRS as issued by the IASB.