GLOSSARY – AUDITING : 1 Accuracy assertion It refers to management assertion that amounts and other data relating to recorded transactions and events have been recorded appropriately. 2 Adverse Opinion […]
All posts by Treesha Jain
Professional Tax Consultant and Article Writer
Applicability
Applicability : Companies which are not required to follow Ind AS shall continue to comply with Accounting Standards (‘AS’) as prescribed in Companies (Accounting Standards) Rules, 2006. Highlights of the […]
IFRS-9 – Financial Instruments
IFRS-9 – Financial Instruments An entity shall recognize a financial asset in its statement of financial position when and only when, the entity becomes party to the contractual provisions of […]
CONVERGENCE OF INDIAN ACCOUNTING STANDARDS WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)
CONVERGENCE OF INDIAN ACCOUNTING STANDARDS WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) : Consistent with its January 2015 announcement, the Ministry of Corporate Affairs (MCA) has moved quite swiftly and notified […]
IFRS-8 – Operating Segments
IFRS-8 – Operating Segments IFRS 8 applies to the separate or individual financial statements of an entity whose debt or equity instruments are traded in a public market; or that […]
IFRS-5 – Non-current Assets held for Sale and Discontinued Operations
IFRS-5 – Non-current Assets held for Sale and Discontinued Operations : The objective of this IFRS is to specify the accounting for assets held for sale, and the presentation and […]
IFRS-8 – Operating Segments
IFRS-8 – Operating Segments IFRS 8 applies to the separate or individual financial statements of an entity whose debt or equity instruments are traded in a public market; or that […]
IFRS-6 – Exploration for and Evaluation and Mineral resources
IFRS-6 – Exploration for and Evaluation and Mineral resources : The object of this IFRS is to specify the financial reporting for the exploration for and evaluation of mineral resources. […]
IFRS-7 – Financial Instruments: Disclosures
IFRS-7 – Financial Instruments: Disclosures IFRS 7 deals with the disclosure requirements in relation to all risks arising from financial instruments (with limited exemptions), and applies to any entity that […]
IFRS-4 – Insurance Contracts
IFRS-4 – Insurance Contracts The objective of this IFRS is to specify the financial reporting for insurance contracts by any entity that issues such contracts until the Board completes the […]