Need of converged IND AS 103

Need of converged IND AS 103 Business Combination The necessity of a standard on Business Combinations in India assumes importance considering the fact that Indian companies are increasingly stretching their business in foreign countries for best-fit business combinations. When Vodafone took over Hutchison Essar, there were a number of tax related issues in India. Despite that, it triggered the interest of small and medium sized companies for such acquisitions. With the cross border mergers and acquisitions, the compatibility of Indian accounting standards with the IFRS is challenging but necessary for a true and fair view of the financial statements worldwide.


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