what is the difference between ifrs 16 and ias 17?
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Disclosures. IAS 17 – Disclosures cover the specific requirement of finance leases separate from operating leases. IFRS 16 – Disclosures do away with the separate presentation of finance and operating leases for lessees and instead requires disclosures of the right of use assets and liabilities.
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IAS is definitely better service than IFoS. As a matter of fact, IAS is better than any other civil services in India. The only service that can stand near to IAS is IFS (Indian Foreign Services). Only IFS can match the pay scales and promotional prospects of IAS which no other service can do.
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Form 16A is also a TDS Certificate. Form 16 is for salary income, whereas Form 16A is applicable for TDS on Income Other than Salary. Banks issue a Form 16A when TDS is deducted by them on interest earned by you in fixed deposits. ... Form 16A is also issued for TDS deductions on insurance commission paid.
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However, it is expected that there will be differences between these two standards since IFRS are developed for profit-oriented entities while the IPSAS are geared towards public sector entities and those that provide public services.
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The primary difference between the methods is that under GAAP, all financial transactions must be recorded and accounted for whereas tax accounting focuses on the transactions which have an impact on the tax situation of the company, with other transactions being omitted.
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International Financial Reporting Standards (IFRS) The Canadian Accounting Standards Board (AcSB) requires publicly accountable enterprises to use IFRS in the preparation of all interim and annual financial statements. Most private companies also have the option to adopt IFRS for financial statement preparation.
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ADF cannot be mandatory for IFR as it is not now mandated for carriage in those conditions. Officially you are of course restricted to Approaches and Holds not requiring an ADF.
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If you are a salaried person, this is one of the most important documents for you to file your ITR. Abhishek Soni, CEO, tax2win.in, a tax-filing company, says "Form-16 is a TDS certificate issued to you by your employer to provide details of the salary paid to you and TDS deducted on it, if any.
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In practice this may mean that, for example, some debtor balances due in more than one year are classified as non-current assets under IFRSs (where they do not meet the definition of a current asset under IAS 1) whereas under FRS 102 they would be classified as current assets (rather than fixed assets) in order to ...
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The International Accounting Standards Board (IASB) is part of the IFRS Foundation and is an independent private-sector organisation based in London. ... The AASB considers the work of the IPSASB in developing and issuing accounting standards for public sector entities in Australia.
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"The main difference (between retained earnings and AAA on the 1120-S) will be (due to) timing differences between book and tax (reporting obligations). For example, if the book depreciation is less than the tax depreciation, the retained earnings account on the balance sheet will be larger than the AAA balance."
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The key difference between IFRS vs Indian GAAP is that IFRS is the international accounting standards that provide guidance on how different transactions should be reported by the company in their financial statements which is used by many countries, whereas, Indian GAAP are the generally accepted accounting principles ...
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International Financial Reporting Standards (IFRS) set common rules so that financial statements can be consistent, transparent, and comparable around the world. ... They specify how companies must maintain and report their accounts, defining types of transactions, and other events with financial impact.
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There is no difference between a CRB and a DBS, the only difference is that ISA and CRB came together to create DBS, which now stands for the Disclosure and Barring Service.
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Effective 1 January 2005. IAS 39 requirements for classification and measurement, impairment, hedge accounting and derecognition are withdrawn for periods starting on or after 1 January 2018 when IAS 39 is largely superseded by IFRS 9 Financial Instruments.
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Indian accounting follows Generally Accepted Accounting Principles (GAAP) whereas US Accounting follows International Financial Reporting Standards (IFRS). ... Indian accounting follows Generally Accepted Accounting Principles (GAAP) whereas US Accounting follows International Financial Reporting Standards (IFRS).
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The main difference between Excel XIRR and IRR functions is this: IRR assumes that all the periods in a series of cash flows are equal. You use this function to find the internal rate of return for periodic cash flows such as monthly, quarterly or annual. XIRR allows you to assign a date to each individual cash flow.