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Due Diligence

A Guide on Customer Due Diligence under PMLA

A Guide on Customer Due Diligence under PMLA

A Master Circular was released by the Reserve Bank of India (RBI) “Know Your Customer (KYC) Directions, 2016”.  The title of the Master Direction...

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Finance & Accounting

A summary of IAS 21 on Changes in Foreign Exchange Rate...

A summary of IAS 21 on Changes in Foreign Exchange Rates

Foreign currency transactions, foreign activities, and translation to presentation currency are all covered by IAS 21. Foreign currency transactions and op...

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Finance & Accounting

A Guide to the Interpretation of IFRS 10

A Guide to the Interpretation of IFRS 10

The component of IAS 27 on Consolidated and Separate Financial Statements that deals with accounting for subsidiaries on consolidation is replaced by IFRS...

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Financial Reporting

Need of convergence of IAS with IFRS

Need of convergence of IAS with IFRS

Every country has its own set of accounting laws and regulations. However, due to globalisation in the previous few decades, as businesses began to go glob...

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Finance & Accounting

An overview of IAS 26 on Retirement Benefit Plans

IAS 26

IAS 26 establishes the measurement and disclosure criteria for reporting retirement benefit schemes. All plans must provide a statement of changes in net a...

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Finance & Accounting

A brief overview of IFRS 9 on Financial Instruments...

IFRS 9

IFRS 9 is effective for the fiscal years beginning on or after January 1st, 2018, while early adoption is also permitted. The International Accounting Stan...

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Finance & Accounting

A summary of IAS 24 on Related Party Disclosures

IAS 24

A parent entity is required by International Accounting Standard 24 to disclose its transactions with associates, joint ventures, or subsidiaries, commonly...

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Finance & Accounting

Difference between Indian Accounting Standards and Inte...

Indian Accounting Standards

Ind AS refer to Indian Accounting Standards which are converged standards for International Financial Reporting Standards. The existence of Indian Accounti...

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