A Study on the Effect of Convergence on Financial Instruments

Authors

  • Soheli Ghose St. Xavier’s College (Autonomous), Kolkata

DOI:

https://doi.org/10.33516/maj.v50i6.101-104p

Abstract

Conversion to IFRS will require the retroactive restatement of certain historical periods presented within a company's first set of IFRS based Financial statements. Internally, its implementation can have a wide-ranging impact on a company’s processes, IT systems, internal financial controls, income taxes, and remuneration policies. This paper aims to analyze the impact of the key changes of convergence on the financial statements and to analyze the key differences between the existing Accounting Standards and the Ind-AS (109, 32, 107) as notified by MCA. The right time to start thinking and converting to Ind-AS is “NOWâ€. This process cannot be delayed any further.

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Published

2015-06-01

How to Cite

Ghose, S. (2015). A Study on the Effect of Convergence on Financial Instruments. The Management Accountant Journal, 50(6), 101–104. https://doi.org/10.33516/maj.v50i6.101-104p

Issue

Volume 50, Issue 6, June 2015

Section

IFRS
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Scopus
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Europe PMC

References

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The Chartered Accountant Journal- Volume 63(6)