Webcast : Indian-Accounting Standars and Convegance to IFRS, 26 FEB, 11AM IST

India has opened a new chapter in its accounting reforms initiative with the formal notification of Indian Accounting Standards (Ind-AS) issued by the Ministry of Corporate Affairs (MCA) on 20 February 2015. Nearly 39 new accounting standards have been notified bringing them in convergence with the globally recognised International Financial Reporting Standards (IFRS).

India has adopted the convergence model rather than an adoption model. Even though most of Ind-ASs are very close to IASB IFRS, there are a few areas where the MCA has carve-outs from principles laid down in IASB IFRS. Some of the important carve outs are in the areas related to straight lining of lease rentals due to inflation, accounting for foreign currency convertible bonds, use of Indian GAAP carrying values of fixed assets and treatment of exchange differences on long term foreign currency borrowings.

Transition to Ind-AS is not a mere accounting change but has significant business consequences like impact on systems and processes, key performance indicators like EBITDA, liquidity ratios, net worth, debt covenants and executive compensation plans.

We urge you to attend this webcast to get a better understanding of how this will impact your business, helping you further with this crucial transition.

Webcast Details

Date: 26 February 2015
Time: 11:00am to 12:30pm

Webcast Link: http://ey.wstream.net/150226/




The Association of International Wealth Management of India (AIWMI) is a not-for-profit organization and a globally recognized membership association for finance professionals. AIWMI primarily focuses on the broad and strategic role of developing a more robust and forward-looking training infrastructure for the financial services sector and to promote more active industry involvement and collaboration in training and continuing education. AIWMI is offering advanced international certification programs along with a wide variety of high-quality executive education programs. AIWMI programs combine state-of-the-art knowledge and skills with practical experience and insights into the functioning of the financial sector. All AIWMI courses and educational events have an intense and pragmatic curriculum. Participants are exposed to the latest developments within the financial services sector. AIWMI plays a key role in guiding the development of the financial services sector. AIWMI works with key industry participants’ viz. the Government, the Regulators, the Industries/Associations, the Corporate, the Media and the General Public to achieve its objectives. Besides enhancing technical competence and professionalism in the industry, AIWMI organizes events and facilitates discussions to promote best practices in leadership and talent development in the financial sector with an aim to become Asia’s premier center of excellence for financial education.

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