Ind AS 103 will require disclosure of information

Over and above the findings in Table 2, the following apparent conclusions can be made from the above converged standard Ind AS 103:
Ind AS 103 will require disclosure of information to assist the users of the financial statements with the understanding of the nature and financial effect of a business combination.Even though IND AS 101 provides exemptions regarding retrospective application of IND AS 103 for the first time adopter, the standard will pose many challenges for the Chartered Accountants.


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