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IND-AS Revenue Recognition Standard Deferred

Published on Mon, Sep 07,2015 | 15:17, Updated at Mon, Sep 07 at 15:30Source : 

The National Advisory Committee on Accounting Standards (NACAS) has recommended to the Government that India defer its adoption of the Indian Accounting Standard 115 on Revenue Recognition. This standard was one of the 10 standards notified by the Government earlier this year as India converges with IFRS starting next year. India was slated to be an early adopter of the IFRS Revenue Recognition standard. But since the global standard itself is under review, NACAS recommended a deferral of the Indian standard as well. CNBC TV18’s Menaka Doshi spoke to NACAS Chairman Amarjit Chopra to find out more…


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