How difficult is it to converge Indian Accounting Standards with IFRS?
It will not be difficult because we have always been following good standards of accounting. However, every corporate has to take the necessary step in understanding the new standards, training its staff and paving a smooth transition. The management at the top level should take interest in this regard.
Related Questions
- When the first interim financial statements are prepared under the Indian Accounting Standards converged with IFRS, under which standards will the comparative ones be presented?
- Can a company discontinue applying the Indian Accounting Standards converged with IFRS based on reassessment of eligibility criteria on a later date?
- Are IFRS and the Revised Indian Accounting Standards the same?
