When the first interim financial statements are prepared under the Indian Accounting Standards converged with IFRS, under which standards will the comparative ones be presented?
Assuming SEBI takes cognisance of the proposed requirements under the Companies Act that there is no requirement to present comparatives for the first annual financial statements as per Indian Accounting Standards converged with IFRS, it would be appropriate to assume that this would hold good for the interim financial statements as well. Accordingly, the comparatives would be as per the interim financial statements prepared in accordance with the existing Indian Accounting Standards. G.
Related Questions
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