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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.

_____________________________________________________________

VIVEK COLLEGE OF COMMERCE

VIVEK COLLEGE ROAD, SIDDHARTH NAGAR

GOREGAON(W), MUMBAI-400 062.

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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:

_______________ _______________

Internal Guide External Guide

_____________ ____________

Co-ordinator Principal

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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:-

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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 MUMBAIfor

giving me a chance to do this project.

I would like to thank my principal Smt. Nandita Royfor 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 Hathiwhose 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

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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.

http://www.qfinance.com/dictionary/credit-rating-agencyhttp://www.qfinance.com/dictionary/credit-rating-agency

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INDEX

SR.NO TOPIC PAGE NO.

1. INTERNATIONAL FINANCIAL REPORTING

STANDARD

1-5

2. ACCONTING STANDARD 20 6-22

3. RESTATEMENT 23-26

4. APPENDICES 27-32

5. CONCLUSION 33

6. WEBLIOGRAPHY 34