In this context, the study is undertaken to measure the level of harmonization of Accounting Standards with the help of Comparability Index and Conservatism Index and to reason out the difference in the income reported according to the Indian GAAP and US GAAP.Athma, Prashanta...
Global Convergence of Harmonization of Indian GAAP with IFRS & US GAAP D.S. Rawat FCA BANSAL & CO. Accounting Standards Accounting standard are the policy document relating to various aspects of measurement, treatment, presentation and disclosure of accounting transactions and events. Standard-Setting...
The study makes appeal to regulators, national and global standard setters (IASB) to assess the current fair value standards and exercise caution in incorporating fair value measurement on certain assets particularly those with no active market. Keywords: IFRS, Indian GAAP, Fair value, Historic ...
accounting principles or gaap is a defined set of rules and procedures that needs to be followed in order to create financial statements, which are consistent with the industry standards. it is the accounting standard that is followed in the us. following are some of the gaap multiple choice ...
4 This is an accounting figure. In the Investment section of this press release we disclose the amount of US$ 296 million for research and development, computed in accordance with the financial disbursement in 1Q12. 11 US GAAP 1Q12 Table 4 - COGS BREAKDOWN US$ million 1Q11 % ...
2. Basic Policy on the Selection of Accounting Standard The Group is preparing for implementation of the International Financial Reporting Standards (IFRS) in the future. Concrete timing of the implementation is currently under examination. 3 3. Consolidated Financial Statement and Significant notes (1...
Conservatism Analysis on Indian Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS)AS GICInd.ASIFRSThe quality of accounting information is the basic objective every accounting standards aims to achieve. It is therefore essential to found out the level ...
Tawiah, VincentBenjamin, MuhaheranwaSocial Science Electronic PublishingTawiah, V. K. and Benjamin, M. (2015). Conservatism analysis on Indian Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). International Journal of Multidisciplinary Research and ...
Until Ind-AS is mandatory, the present framework of Accounting Standards, Interpretations, Guidance Notes and various Industry practices are collectively referred as Indian GAAP. Ind-AS refers to converged standards notified by NACAS. In all 35 standards have been notified till date, however, the ...
2. Basic Policy on the Selection of Accounting Standard The Group is preparing for implementation of the International Financial Reporting Standards (IFRS) in the future. Concrete timing of the implementation is currently under examination. 3 3. Consolidated Financial Statement and Significant notes (1...