Transcription of Similarities and Differences - pwc
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P wC Similarities and Differences A Comparison of IFRS, US GAAP and Indian GAAP* *connectedthinking November 2006 PricewaterhouseCoopers ( ) is the world s largest professional services organisation. Drawing on the knowledge and skills of more than 140,000 people in 149 countries, we build relationships by providing services based on quality and integrity. Other publications on IFRS, US GAAP and Indian GAAP PricewaterhouseCoopers has published the following publications on International Financial Reporting Standards, US GAAP, Indian GAAP and corporate practices; they are available from your nearest PricewaterhouseCoopers office. Acquisitions Accounting and transparency under IFRS 3 Current Developments for Audit Committees 2006 Destination India: A Brief Overview of Tax and Regulatory Framework FICCI PricewaterhouseCoopers Indian Entertainment and Media Industry: Unravelling the Potential Financial Instruments under IFRS Revised IAS 32, IAS 39 and IFRS 7: A guide through the maze Foreign Banks in India IAS 39 - Achieving hedge accounting in practice IFRS Disclosure Checklist 2006 IFRS Measurement Checklist 2006 IFRS Pocket Guide 2006 Illustrative Consolidated Financial Statements 2006 Banks Illustrative Consolidated Financial Statements 2006 Insurance Illustrative Corporate Consolidated Financial Statements 2006 Share-based Payment
items are presented on the face of the income the notes. Similar to IFRS, except that the Companies Act uses the term exceptional items. 26 Extraordinary items Prohibited. Defined as being both infrequent and unusual, and are rare. Negative goodwill is presented as an extraordinary item. Defined as events or transactions clearly distinct
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