1. AS : 31
FINANCIAL INSTRUMENTS :
PRESENTATION

2. AS :
32

4. INTRODUCTION
• The International Accounting
Standards Committee (IASC) -1973
The International Accounting
Standards Board (IASB) -2000

5. WHY IFRS

6. IFRS 1-FIRST TIME ADOPTION OF IFRS
Adoption of International Financial
Reporting Standards

7. IFRS 2-SHARE-BASED PAYMENTS

8. IFRS : 3
BUSINESS COMBINATIONS

9. IFRS : 7
FINANCIAL INSTRUMENTS : DISCLOSURES

12. IFRS 6
EXPLORATION FOR AND EVALUATION OF MINERAL
RESOURCES

13. • Entity need to obtain legal rights to explore in
a specific area
• Exploration and evaluation expenditures are
expenditures incurred
• Expenditures recognized as assets in
accordance with the entity’s accounting policy.

14. • Allows continuing to use recognition and
measurement practices that are part of those
accounting policies
• Impairment test on those assets when
– Carrying amount > Recoverable amount
– Period expiration
– No fruitful discovery made

15. • Disclosure
– Amounts recognized in its financial statements
arising from the exploration for and evaluation of
mineral resources

16. IFRS 8
OPERATING SEGMENTS

17. • To evaluate the nature and financial effects of
the business activities in which it operates.
• Deciding how to allocate resources and in
assessing performance

18. • IFRS 8 shall apply to:
– Separate or individual financial statements of an
entity
– Consolidated financial statements of a group with
a parent
• debt or equity instruments are traded in a public
market
• purpose of issuing any class of instruments in a public
market

19. Disclosure:-
– About its operating segments in interim financial
reports.
– About products and services, geographical areas and
major customers.

20. CONCLUSION

21. • ICAI WEBSITE.
• SYNOPSIS OF
ACCOUNTING
STANDARDS-DELOITTE.
• POCKET IFRS- DELOITTE.