IFRS AND AS 20

Masters of Commerce (Accountancy)

Semester II

Submitted In partial Fulfillment of the requirements For the Award of Degree of Masters of Commerce (Accountancy) By MUJAWAR SHAZANA M. H.

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VIVEK COLLEGE OF COMMERCE VIVEK COLLEGE ROAD, SIDDHARTH NAGAR

GOREGAON (W), MUMBAI-400 062.

VIVEK COLLEGE OF COMMERCE VIVEK COLLEGE ROAD, SIDDHARTH NAGAR GOREGAON (W), MUMBAI-400 062.

CERTIFICATE

This is to certify that MUJAWAR SHAZANA of M.com. Accountancy Semester II (2012-2013) have Successfully completed the project on IFRS AND AS 20 under the Guidance of Prof:

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Internal Guide

External Guide

_____________ Co-ordinator

____________ Principal

DECLARATION

I MUJAWAR SHAZANA the student of M. Com. Accountancy Semester II (2012-2013) hereby Declare that I have completed the projects on IFRS AND AS 20

The information submitted is true and original to the best of my Knowledge

________________ MUJAWAR SHAZANA Date:-

Acknowledgement

To list who all have helped me in difficult because they are so numerous and the department is so enormous. I would like to acknowledge the following as being idealistic channels and fresh dimension in completion of this project. I take this opportunity to thank the UNIVERSITY OF MUMBAI for giving me a chance to do this project. I would like to thank my principal Smt. Nandita Roy for providing the necessary facilities for the completion of this project. I take this opportunity to thank our coordinator Prof.Pradeep Hathi for his moral support and guidance. I would also like to express my sincere gratitude towards my project guide Prof.Pradeep Hathi whose guidance and care made this project successful. I would like to thank my college library for having provided various reference books and magazines related to my project. Lastly I would like to thank each and every person who directly or indirectly helped me with the completion of the project especially my parents and peers who supported me throughout the project.

MUJAWAR SHAZANA

EXECUTIVE SUMMARY

It gives me an immense pleasure to present this project on IFRS AND

AS 20 for the fulfillment of project work in M.Com (Accountancy

Semester II). This project is prepared exactly as per the guidelines prescribed by the University. It presents the subject matter in a simple and convincing language. In this project, I have made a humble attempt to explain the topic of IFRS AND AS 20 in a simple expressive manner. International Financial Reporting Standards (IFRS) is a set of accounting standards developed by an independent, not-for-profit organization called the International Accounting Standards Board (IASB).

The adoption of IFRS can provide greater reassurance for investors, credit rating agencies and lenders, potentially giving companies access to lower- cost capital in line with the lower risk. It is the reward of an investor for making his investment and it is the best measure of performance of a firm. Ordinary investors make their investment decision based on EPS. I earnestly hope that the project will provide added utility to the reader and will serve his purpose.

INDEX
SR.NO 1. TOPIC INTERNATIONAL FINANCIAL REPORTING STANDARD 2. 3. 4. 5. 6. ACCONTING STANDARD 20 RESTATEMENT APPENDICES CONCLUSION WEBLIOGRAPHY 6-22 23-26 27-32 33 34 PAGE NO. 1-5