IndAs wef 01-04-2016, Accounting - Auditing

[CA AJAY KUMAR AGRAWAL]

As per extant provisions IndAs are applicable on " Listed Companies / Other Companies (with Net Worth ₹ 500 Crore or more) wef 01-04-2016. In second phase i.e. from 01-04-2017 "Listed Companies (those remaining from Phase I) & other companies (with net worth of ₹ 250 Crore or more but upto ₹ 500 Crore) shall be covered. For phase I net worth will be taken taken as on 31-03-2015.

Question 1 :- Is above understanding fully correct?

Question 2 :- What will be date of Net Worth for Phase II?

Question 3 :- A Listed Company ( with net worth March 15 & March 16) being between ₹ 250 Crores & 500 Crores will be covered in Phase II?

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above said issue? If not please inform.