从印度的GAAP转向IFRS [4]
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论文字数:2004论文编号:org201603261023376517语种:英语 English地区:英国价格:免费论文
关键词:会计准则变化IFRSGAAP
摘要:摘要:本文主要讲述了印度公认会计准则变化需要IFRS和全球视角,印度意识到坚持共同的金融平台的重要性。
ial statements is important to clear expectations from the start. This will give analysts a head start into what to expect when they look at financial statements after shifting to the IFRS, and will reduce the shock of the output.
其他行业的影响——Implications on other industries
Within the
Insurance industry the IRDA is in the process of setting up a road map for the transition to IFRS Standards. The IASB has designed IFRS 4 which makes limited changes to insurance financial reporting standards. The Phase 2 with more details is expected to be published by the IASB in 2011. According to a study done by ICAI, only two of the Indian accounting standards for insurance are in compliance with the IFRS. All of the others will have to go through transformation, which will have significant implications in terms of the definition of the components of financial statements of insurance companies. Some examples would include the recording of premium income directly into the balance sheet and dividends could be recorded as interest. Dr. R Kannan, member IRDA mentioned that a sudden change to the new accounting standards would not be possible due to several constraints faced by the Insurance industry. The transition is expected to happen in a phased manner.
Companies within most of the other industries too have taken initiative and shown commitment towards converging to IFRS by the set deadline. According to Economic Times, 180 industries attended a 2-day workshop on IFRS in Gujarat in 2008, which was hosted by the ICAI. Some of India's largest companies including Wipro, Infosys, Mahindra and Tata Motors, Bombay Dyeing and pharma major Dr Reddy's Laboratories are now aligning their accounting standards to IFRS.
Implications on infrastructure companies include impact on public private partnerships (a change in the accounting of infrastructure assets and treatment of subsequent income earned on it), leases (differences in the definition of a lease under both accounting standards) and the recording of financial Instruments (changes in accounting of embedded derivatives).
Top accounting implications faced by the IT and BPO Industries include revenue recognition (recognizing and accounting for each component of the software products and services separately by the IFRS as compared to the method of valuation of a complete project by the Indian GAAP), outsourcing contracts (different accounting standards for different types of contracts under the IFRS), share based payments (recorded separately by the two standards) and differences in the derivatives and hedge accounting standards.
总结——Conclusion
India is highly committed towards aligning its accounting standards to IFRS. Owing to the several advantages of the IFRS, a large number of industries with both large and small companies have expressed significant interest in transitioning existing systems. A lot of time and commitment along with high technology expenses will be required for the successful implementation, but this move will catapult India to the global scenario of accounting standards.
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