https://www.taxtmi.com/news?id=1521 Convergence of Indian Accounting Standards with IFRS is being implemented in a phased manner to align domestic financial reporting with internationally accepted norms while accommodating local economic conditions. Revised financial statement formats and depreciation schedules have been prepared for notification. The converged standards were developed through exposure drafts, stakeholder consultation, and sequential review by standard setting and advisory bodies followed by government consideration, accompanied by capacity building, clarifications, and stakeholder outreach. en-us Fri, 18 Feb 2011 00:02:52 +0530 Fri, 18 Feb 2011 00:02:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=1521 Convergence of Indian Accounting Standards with IFRS is being implemented in a phased manner to align domestic financial reporting with internationally accepted norms while accommodating local economic conditions. Revised financial statement formats and depreciation schedules have been prepared for notification. The converged standards were developed through exposure drafts, stakeholder consultation, and sequential review by standard setting and advisory bodies followed by government consideration, accompanied by capacity building, clarifications, and stakeholder outreach. News - Fri, 18 Feb 2011 00:02:52 +0530 https://www.taxtmi.com/news?id=1521