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Reply | Forward Message #1719 of 3095 |
Dear All
 
Convergence to IAS/ IFRS involves some of the basic queries and issues that may arise during the convergence exercise. Some of the commonly asked/ discussed IFRS Queries are:
  1. How to move from Local GAAP to IFRS (Ans: IFRS 1);
  2. Is Consolidation of Special Purpose Entity required (Ans: SIC 12);
  3. Is Amalgamation different from Business Combination (Ans: IFRS 3);
  4. How to account for Customer Loyalty Programs and Barter Transactions (Ans: IAS 18);
  5. Component Accounting (Ans: IAS 16);
  6. Extraordinary Items (Ans: IAS 1 and IAS 8);
  7. Discontinuing vs. Dicontinued Operations (Ans: IFRS 5);
  8. Property, Plant and Equipment vs. Investment Property (Ans: IAS 16 and 40)
For all of the above mentioned queries and their detailed answers, you may refer 'Accounting Standards and IFRS' published by Bharat Law House Private Limited (www.bharatlaws.com)

All the Best
Kamal Garg
 
Author:
'Accounting Standards and IFRS'
'Handbook on Company Balance Sheet and Profit & Loss Account'
'Handbook on Internal Auditing'
(published by Bharat Law House Private Limited, www.bharatlaws.com)
 


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Wed Nov 12, 2008 4:52 pm

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Dear All   Convergence to IAS/ IFRS involves some of the basic queries and issues that may arise during the convergence exercise. Some of the commonly asked/...
Kamal Garg
kkgarg07
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Nov 12, 2008
4:52 pm
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