The Articulation of Profit or Loss and other Comprehensive Income

Abstract

After the recent notification by MCA on 16th February 2015, India Inc is finally gearing up for IFRS convergence. Thirty nine new Indian Accounting Standards (Ind AS) have been notified since then. With the deadline looming large on Indian corporate, it is imperative for an organisation or a finance professional to soak in as much information as quickly as possible to enable a smooth transition from current Indian GAAP to Ind AS.