Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2010-01-20

Indian SMEs need not follow IFRS from April 1, 2011

The small and medium enterprises (SMEs) of the nation will be free from the hassles of preparing their accounts according to the International Financial Reporting Standards (IFRS) from April 1, 2011.

Indian SMEs need not follow IFRS from April 1, 2011

The small and medium enterprises (SMEs) of the nation will be free from the hassles of preparing their accounts according to the International Financial Reporting Standards (IFRS) from April 1, 2011. The move will help them save cost. This has been decided by a panel constituted by the government on IFRS. 

 

The adherence to IFRS is an expensive affair for SMEs as it includes an overhaul of operational and IT processes apart from training costs. This acts as an obstacle to the growth of SMEs. In November last year, the government had hinted at preparing a watered-down version of IFRS for the SMEs. 

 

According to Institute of Chartered Accountants of India (ICAI) all companies listed with NSE and BSE, companies with foreign borrowings of more than Rs 500 crore and also those with net worth in excess of Rs 1,000 crore will have to follow IFRS. 

Related opportunities
  • Art, Craft, Antique & Framing
    About Us: Attapetta is first of its kind concept store that..
    Locations looking for expansion Delhi
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 50lac - 1 Cr.
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Cosmetics & Beauty Product Stores
    About Us: Dr. Xavier's Gateway Hairfixing is the No.1 Hair fixing..
    Locations looking for expansion Delhi
    Establishment year 1994
    Franchising Launch Date 2019
    Investment size Rs. 20lac - 30lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Ice Creams & Yogurt Parlors
    About Us: Gatox Naturals, a venture of Laasya Food Manufacturing Private..
    Locations looking for expansion Delhi
    Establishment year 2013
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 80
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Quick Service Restaurants
    About Us: Gill’s Kitchen is a brand of H & H..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
ads ads ads ads