Takshila Learning - Online Tutorials

What's the scope of Diploma in IFRS? If you are an accounts person eager to make a lucrative career in finance and accounts, knowledge of  IFRS  is very important for you as most countries, including India, are moving to IFRS accounting standards . You can learn about IFRS as well as get certified in this area easily with online courses now available in this domain. In this blog, we will discuss what  IFRS  is and how can it benefit you. Definition IFRS  stands for International Financial Reporting Standard and is an internationally accepted language for business accountancy presentation. It makes the presentation comparable and understandable worldwide. In other words,  IFRS  is a singular accounting language. Scope of IFRS in India As IFRS is globally recognized, Indian companies and working professionals need to be well versed in it. There is a growing demand for IFRS professionals as more and more companies migrate to this international standard. To meet the growing demand, ins

Other Comprehensive Income (OCI) - IND AS - DipIFR The concept of Other Comprehensive income to an extent resolves the issue of defining the earnings in earnings per share (investor’s ratio) as it has cushion for too many gains and losses that were non-operational, unrealized, outside the control of management, and not relating to the accounting period. All non-owner changes in equity i.e., comprehensive income are required to be presented in a single statement of profit and loss, with profit or loss and other comprehensive income presented in two sections. All non-owner changes in equity i.e.,  comprehensive income  are required to be presented in a single statement of profit and loss, with profit or loss and other comprehensive income presented in two sections. The sections shall be presented together, with the profit or loss section presented first followed directly by the other comprehensive income section. In other words, we can understand them as The changes to the net