Page 2 of 2 FirstFirst 12
Results 11 to 12 of 12

Thread: 16 - Indian Accounting Standard (Ind AS) 27 - Earlier Accounting standard (21) - Consolidated and Separate Financial Statements

  1. #11
    IND-AS
    Guest

    Thumbs up Appendix - B of Indian Accounting Standard (Ind AS) 27 - Earlier Accounting standard (21) - Consolidated and Separate Financial Statements

    Appendix - B of Indian Accounting Standard (Ind AS) 27 - Earlier Accounting standard (21)

    Consolidated and Separate Financial Statements


    Appendix - B


    References to matters contained in other Indian Accounting Standards

    This Appendix is an integral part of Indian Accounting Standard (Ind AS) 27.

    1. Appendix A, Distribution of Non-cash Assets to Owners contained in Ind AS 10 Events after the Reporting Period makes reference to this Standard also.

    2. Appendix A, Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds contained in Ind AS 37 Provisions, Contingent Liabilities and Contingent Assets (makes reference to this Standard also.


  2. #12
    IND-AS
    Guest

    Thumbs up Appendix -1 of Indian Accounting Standard (Ind AS) 27 - Earlier Accounting standard (21) - Consolidated and Separate Financial Statements

    Appendix -1 of Indian Accounting Standard (Ind AS) 27 - Earlier Accounting standard (21)

    Consolidated and Separate Financial Statements


    Appendix -1


    Comparison with IAS 27, Consolidated and Separate Financial Statements and SIC 12, Consolidation–– Special Purpose Entities


    Note: This Appendix is not a part of the Indian Accounting Standard. The purpose of this Appendix is only to bring out the differences between Indian Accounting Standard (Ind AS) 27 and the corresponding International Accounting Standard (IAS) 27, Consolidated and Separate Financial Statements and SIC 12, Consolidation––Special Purpose Entities.

    1. Paragraphs 8, 10 and 42 have been deleted and paragraphs 11, 39 and 43 have been modified as the applicability or exemptions to the Indian Accounting Standards is governed by the Companies Act and the Rules made thereunder. However, paragraph numbers 8, 10 and 42 have been retained in Ind AS 27 to maintain consistency with paragraph numbers of IAS 27.

    2. The transitional provisions given in IAS 27 have not been given in Ind AS 27, since all transitional provisions related to Ind ASs, wherever considered appropriate have been included in Ind AS 101, First-time Adoption of Indian Accounting Standards corresponding to IFRS 1, First-time Adoption of International Financial Reporting Standards.

    3. Different terminology is used, as used in existing laws e.g., the term ‘balance sheet’ is used instead of ‘Statement of financial position’ and ‘Statement of profit and loss’ is used instead of ‘Statement of comprehensive income’.


Tags for this Thread

Bookmarks

Posting Permissions

  • Register / Login to post new threads
  • Register / Login to post replies
  • Register / Login to post attachments
  • You may not edit your posts
  •