ICAI has issued an Exposure draft on AS 4- Events after the Reporting Period corresponding to IAS 10. We all know that ICAI is in the process to converge with the IFRS. IFRS is going to be applicable from 1st April 2011 for public interest entity. ICAI is moving rapidly in the process of convergence and the exposure draft is another step ahead towards this.
International Financial Reporting Standards (IFRS) are gaining acceptance worldwide. This article gives an introduction to IFRS. In the weeks to come we’ll be covering various aspects and important issues related to IFRS. This article is our first part on the series of articles on IFRS.
Your feedbacks via comments will help us a great deal to continue providing you with quality articles on IFRS.