ICWAI-Management Accounting Research Foundation in association with C&K Management Ltd of TMI group, introduced The Accounting Standards for Practitioners here today.

Niranjan Misra, Central Council Member, Institute of Cost Accountant of India, after digitally launching the eLearning course said “Under this partnership practitioners and students of CA, ICWAI, ACS, MBA, M Com, B Com, BBA will undergo intensive 130 hours of online courses covering 36 standards offered by C& K Management. Examination will be conducted by ICWAI-MARF and successful students will be awarded a Certificate by ICWAI.”

“Students studying CA, ICWA and other courses need the Ind-AS certification for a big value add to their resumes at the time of placement. Like computer skills, accounting skills will also require outside the curriculum courses and this Ind-AS course will fill this need, ” T. Muralidharan, Chairman of TMI Group, said.

The Ministry of Corporate Affairs notified a road map for Ind-AS implementation in phases in February 2015 to usher in an era of higher transparency and comparability in financial reporting.

As per the phased implementation plan, the first set of companies with a net worth of over ₹ 500 crore-listed and unlisted-started the implementation from April 1, 2016. The second phase staring from April 1, 2017 will cover all listed companies and unlisted companies with a net worth of Rs 250 crore or more.

Ind-AS already has significant impact in the second quarter results of 2016. Its implementation is likely to significantly impact the financial reporting systems and processes and as such, these changes need to be planned, managed, tested and executed in advance of the implementation date.

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