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Dear professionals

Dear professionals. LET US DISCUSS IFRS October 25, 2014. Let us kill creative accounting Thru IFRS. SECURITISATION OF DEBTS Beaten by Compulsory group consolidation. Securitisation of debts. NPA TREATMENTS. Stock valuation. IFRS. Prior period items. Historical costs.

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Dear professionals

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  1. Dear professionals • LET US DISCUSS • IFRS • October 25, 2014

  2. Let us kill creative accounting Thru IFRS • SECURITISATION OF DEBTS • Beaten by • Compulsory group consolidation

  3. Securitisation of debts NPA TREATMENTS Stock valuation IFRS Prior period items Historical costs Unlisted & private subsidiries JVs & associates Creative accounting VS IFRS

  4. Form vs substance:revenue recognition Legal contract Substantially Consumed

  5. Shared based payments ESOP FAIR VALUE VS INTRINSIC VALUE Future payments Accrual on PV DEFINED BENEFITS PENSION COSTS SMOOTHING???

  6. FINANCIAL INSTRUMENTS Fair value Thru P & L Held to maturity Loans & receivables Available For sale SMEs 2 classes only

  7. TAXES • DEFERRED TAX ASSETS • DEFERRED TAX LIABILITIES

  8. Creative Accounting Corporate Governance Disclosures – dilemma world over

  9. CONSTRUCTION INDUSTRY _____________________________________________________ I.T. projects Steel mines ___________________________________________________ banks Retail developmental right EXAMPLES

  10. ANY QUESTIONS OR HAVE I CONFUSED YOU ENOUGH?

  11. disclosures Direct resp. e.g. valuer name Huge number Certainities reasonable Prior period adjustments

  12. Thank you • R N BHAVE mohanbhave@gmail.com +91 9322249833 +91 9004043365

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