Author Archives: Chintan Patel FCA, CPA(USA), Cert.IFRS(ICAI), CISA (USA), DISA, DIRM

About Chintan Patel FCA, CPA(USA), Cert.IFRS(ICAI), CISA (USA), DISA, DIRM

CA Chintan Patel is a partner of Naresh J. Patel & Co. Chartered Accountants (www.nareshco.com). He is co-author of book on Ind AS published by Taxmann. He leads India and International Accounting including IFRS & US GAAP. He has over 14 years of experience including Implementation of IFRS/US GAAP/ Ind AS, working with public accounting, MNCs and industry organizations. He was editor of IFRS Newsletter published by Ind AS (IFRS) Implementation Committee of ICAI. He was a co-opted member of IFRS Committee of WIRC of the Institute of Chartered Accountants of India for 2010-11. He has been a speaker at more than 200 professional seminars, conferences and events in India and abroad. His articles published in professional journals.

5 Speedbreakers on the highway of Ind AS Implementation

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Speedbreakers on the highway of Ind AS Implementation Financial reporting in India is passing through very remarkable moments owing to adoption of Indian accounting standards (Ind AS). For companies covered under Phase – 1 of mandatory Ind AS Financials, 1st … Continue reading

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New Revenue Recognition Standard Ind AS 115 deferred?

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New Revenue Recognition Standard Ind AS 115 deferred? The corresponding standard of Ind AS 115 is IFRS 15 Revenue from Contracts with Customers. Let us first understand why there was need to issue new standard IFRS 15 by IASB in … Continue reading

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IFRS now reality – Get Ready!!!

On February 16, 2015, the ministry of corporate affairs notified the Indian version of International Financial Reporting Standards (IFRS), to be referred as Ind AS.  39 IND AS are issued aimed at convergence of the Indian accounting framework with globally … Continue reading

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Setting up Business in Vibrant Gujarat & Incredible India

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Setting up Business in Vibrant Gujarat & Incredible India 7th Vibrant Gujarat Summit, has well begun today on 11th January 2015 at Mahatma Mandir, Gandhinagar, Gujarat, India. At this time, it is imperative to know the key facts of Gujarat … Continue reading

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Can on you hack over the internet games only to do you wish to entice in big trouble this is why?

When online games hit the very digital surveys, then they had taken the entire digital world by simply storm. Every one was playing online games and non-e have now been left behind. Individuals from other parts of the globe were … Continue reading

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Why execute you first need free of charge Musically tastes?

If you as a rule wind up bursting down into that an active song and then dance routine every time your favorite song comes on the radio or your own body’s Spotify playlist, then Musical. Ly may be something value … Continue reading

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Big 6 Changes of Companies Bill 2013 passed by Rajya Sabha on 8th August 2013

                                                                                … Continue reading

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Top 20 Highlights of Companies Bill 2011 passed in Lok Sabha on 18th Dec. 2012

Lok Sabha (Lower House of Indian Parliament) passed a very important Companies Bill, 2011 on 18th December 2012. Once passed by Rajya Sabha (Upper House) and signed by the President, it will replace Companies Act 1956. Following is the summary of TOP … Continue reading

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SEBI – Restatement of Accounts if Qualified Audit Report

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On June 26, Sebi notified that annual accounts of companies that carry a qualification by their auditors will have to go for a restatement. The notification said all such audit qualifications will have to be mentioned in a form (Form … Continue reading

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Training seminar on Practical Aspects of Revised Schedule VI

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Ministry of Corporate Affairs (MCA) has revised Schedule VI completely after more than 5 decades. The revision was made to align the format with International Financial Reporting Standards. To create awareness about the practical challenges for preparation of financials as … Continue reading

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XBRL and MCA Compliance in India

The last date of XBRL filing for Phase – I Companies without additional fees ended on 31st December 2011. More than 85% of the companies covered in Phase –I (more than 23,000 companies) have filed the annual documents in XBRL … Continue reading

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