Posts tagged ifrs gaap
Depriciation and Impairment – IFRS and Indian GAAP
Link between Depreciation and Impairment under IFRS
When an item of Property, Plant and Equipment (PPE) is impaired i.e. recoverable amount < carrying amount, carrying amount is reduced to the amount of recoverable amount.
Asset should no more be carried more than their Recoverable amount.
Such a decrease in carrying amount is impairment More >
IFRS:Why do we need IFRS in India?
Do we need IFRS in India?
Indian Companies are listed on overseas stock exchange and have to prepare accounts with respect to GAAP followed in respective countries. Foreign companies having subsidiary in India have to prepare there accounts in order to meet overseas reporting.
FDI and FII’s are more comfortable with one More >