Financial reporting in India is expected to change tremendously due to applicability of Indian Accounting Standards since current Indian GAAP (Generally Accepted Accounting Principles) are divergent from the notified Ind-AS in many respects. One of the articles written by me on the subject also got published in The Chartered Accountant May 2016 issue.

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The article attempts to explain the change in the accounting of staff loans by the implementation of Ind-AS. Read the article on ICAI website by clicking here.

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