Accounting Standards In India
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Accounting Standards in India Accounting Standards in India Joseph Anbarasu
Business Organizations and Accounting Standards d d
Business Organizations and Accounting d d Standards
Business Organizations and Accounting d d Standards
Business Organizations and Accounting d d Standards
Business Organizations and Accounting d d Standards
Government Organizations and Accounting Standards d d
Government Organizations and Accounting Standards d d
Government Organizations and d d Accounting Standards
Government Organizations and d d Accounting Standards
Government Organizations and d d Accounting Standards
WHY HARMONIZATION? WHY HARMONIZATION?
Only one way Only one way • Till now, the Institute of Chartered Accountants of h d f India (ICAI) has taken a position towards International Financial International Financial Reporting Standards (IFRS) and not GAAP. • Different and Contradictory Different and Contradictory Practices • Rule based Accounting Standard vs Principle Based Standard vs. Principle Based Standards • Auditor’s Dilemma in judging a transaction judging a transaction
Some Useful Links Some Useful Links • SAI SAI, India: www.cag.gov.in India: www cag gov in • Institute of Chartered Accountants of India: www icai org www.icai.org • GASAB, India: www.gasab.gov.in • International Federation of Accountants: www.ifac.org • International Accounting Standards Board: www.iasb.org g
Business Organizations and Accounting Standards d d
Business Organizations and Accounting d d Standards
Business Organizations and Accounting d d Standards
Business Organizations and Accounting d d Standards
Business Organizations and Accounting d d Standards
Government Organizations and Accounting Standards d d
Government Organizations and Accounting Standards d d
Government Organizations and d d Accounting Standards
Government Organizations and d d Accounting Standards
Government Organizations and d d Accounting Standards
WHY HARMONIZATION? WHY HARMONIZATION?
Only one way Only one way • Till now, the Institute of Chartered Accountants of h d f India (ICAI) has taken a position towards International Financial International Financial Reporting Standards (IFRS) and not GAAP. • Different and Contradictory Different and Contradictory Practices • Rule based Accounting Standard vs Principle Based Standard vs. Principle Based Standards • Auditor’s Dilemma in judging a transaction judging a transaction
Some Useful Links Some Useful Links • SAI SAI, India: www.cag.gov.in India: www cag gov in • Institute of Chartered Accountants of India: www icai org www.icai.org • GASAB, India: www.gasab.gov.in • International Federation of Accountants: www.ifac.org • International Accounting Standards Board: www.iasb.org g
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