International Financial Reporting Standards (IFRS) have become the benchmark for accounting. In India, the Ministry of Corporate Affairs (MCA) has issued a phased roadmap for convergence with IFRS. The Institute of Chartered Accountants of India (ICAI) has already issued 35 converged accounting standards. These have been notified by the MCA. All accounting professionals now need to understand and apply IFRS.
Last date for application: 28th December 2011
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