IFRS Convergence: ICAI issues exposure drafts on financial instruments and revenue recognition

IFRS Convergence: ICAI issues exposure drafts on ...

As part of the initiatives towards India’s convergence with IFRS from 2016-17, the Accounting Standards Board of the Institute of Chartered Accountants of India has recently issued exposure drafts on Ind AS 109, Financial Instruments (ED on financial instruments) and Ind AS 115, Revenue from Contracts with Customers (ED on revenue).


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These exposure drafts are in line with the requirements of the corresponding International Financial Reporting Standards (IFRS) (IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers), the International Accounting Standards Board has recently issued.

In this issue of IFRS Notes, we have provided an overview of these exposure drafts along with key impact areas. 

To access the text of these ‘exposure drafts’ please click on the following links below:

ED on financial instrument and ED on revenue.  

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