This document provides biographical and professional information about Rammohan N Bhave, the managing director of ConsultIFRS.com. It outlines his educational qualifications and professional experience working for 28 years in industry. It then summarizes the services offered by ConsultIFRS.com, including first time adoption of IFRS and Ind AS, ongoing compliance, valuation, consultancy, and training. Industry sectors that ConsultIFRS.com has experience implementing IFRS/Ind AS for and providing training to are also listed.

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2. Rammohan N Bhave
Managing Director,
ConsultIFRS.com
Email : mohanbhave@gmail.com
mohanbhave@consultifrs.com
Mob : +91 9167446744
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 Collegian
 B Com – 1976
 LL.B. (G) – 1981
 Professional
 CA – 1980
 ICWA – 1984
 CS - 1987
 Strategic
 IIM (A) – M & A –
2005
 SAP - 2000
 Global
 IFRS London – 2009
 Six Sigma – 2009
 XBRL – 2009

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MY JOURNEY
Rammohan Bhave - 28 Years industry
Now IFRS, valuation, M & A, ECB, FDI, Listing on foreign stock exchange Consultant
& faculty
Mittal Europe 2006-09 MD & Chief Finance Director Europe
Gammon India 2004-06
Reliance Infocomm 2002- 04 – Business Controller
Foundation software –USA Y2K, Sing 2001, Australia 2002
Blue Star & Blue star infotech – 1997 – 99 Mumbai - CFO
Mafatlal – 1991 – 94 Surat 1995- 96 Mumbai
Crompton Greaves - 1980 to 1990 Nasik Started career

4. About ConsultIFRS.Com and implementation experts
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 Rammohan Bhave Limca record holder on IFRS, FCA, FCMA, ACS, Six Sigma Green
Belt, Dip. IFRS (ACCA,UK), Cert. IFRS (ICAI)
 Worked in USA, Singapore, Australia and of late in London and Bulgaria for the Mittal
Group
 Worked with reputed companies like Reliance Infocomm, Mittal Group, Blue Star Ltd,
Crompton Greaves etc.
 Speaker at national cost conference in Jan 2011 held by ICWAI at Chennai
 Speaker at National Company secretary conference at Hyderabad in Nov 2009
 Felicitated by ICSI for special achievements “FLAGBEARER OF THE PROFESSION” on
14th August, 2015 at hands of Chief Minister Kerala & president ICSI

5. ConsultIFRS.com - Practical
implementation
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 First time adoption of Ind AS and IFRS
 Ongoing compliance of accounts with Ind AS and IFRS
 Valuation
 Consultancy
 Advisory opinion

6. ConsultIFRS.com - Experience
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 Implemented IFRS and Ind AS to various organisations
 Implementation of Ind AS is in process
 Provided IFRS and Ind AS implementation training to more than 50
companies
 Providing consultancy services on various complicated IFRS and
Ind AS issues
 Clients in India as well as in the foreign countries like Qatar, Dubai,

7. ConsultIFRS- IFRS and Ind AS Implementation
industry sectors
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 Construction
 Banking and financial
 Publication
 Mobile aggregator
 Wind mill
 Engineering

8. ConsultIFRS- IFRS and Ind AS training
industry sectors
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 Entertainment and
media
 Power
 Banking and financial
 Wind mill energy
 Reputed top
consultancy firms (CA,
CMA etc.)
 Manufacturing
 Energy
 Government bodies
• Publication
• Electrical and consumer
lifestyle
• Diamonds
• Automobiles
• Pharmaceuticals
• Infotech
• Wine
• Institutes

9. ConsultIFRS.com - Practical implementation
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 First time adoption of IFRS and Ind AS
 Ongoing compliance of accounts with IFRS and Ind AS
 Valuation
 Consultancy
 Advisory opinions

10. Ind AS –Training on implementation
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Days Topics
1 • 1st time adoption
2 • PPE
• Intangibles
3 • Investments
4 • Revenue recognition
• EPS
• Defined benefits
5 • Live exercise of conversion

11. Why Ind AS?
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 Investors are acting on a global market
 M & A s happen using fair value standards of Ind AS
 Cross border acquisitions possible only by using
common valuations thru Ind AS based financial
statements

12. Salient Features of IFRS - converged
Ind AS
• Principle-based Standards
• Applicable on separate as well as consolidated financial statements
• Give more importance to concept of ‘substance over form’, i.e.,
economic reality of a transaction
• Rely more on fair valuation approach, and measurements based on
time value of money
• Require more disclosures of all the relevant information and
assumptions used
• Require higher degree of judgment and estimates
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13. Benefits to Capital Markets
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 Interest cost reduction
 Credibility of local market to foreign investors
 More cross-border investment
 Efficient capital allocation
 Comparability across political boundaries
 Facilitates global education and training

14. Benefit to Companies
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 Lower cost of capital
 Facilitates raising capital abroad
 Integrated IT systems
 “One set of books” + easier consolidation
 Better understanding of financial statements from business
partners abroad

15. A principle based standard
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 No exceptions
 Core principles (objectives)
 No inconsistencies
 Tied to conceptual framework
 Judgement
 Minimum guidance

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Adoption or convergence?
India signed G20 agreed to Go for IFRS from 1/4/11
Previous years accounts were 10-11
2010 issue came up –
- Adoption or convergence
-Convergence was agreed
Prepared India’s convergent accounts with IFRS
Now after postponements finance minister Arun Jaitley has declared
voluntary 15-16 & mandatory from 16-17

17. Roadmap for Implementation on
Ind ASs
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18. Roadmap released by MCA on16th Feb 2015
• 1/4/15 – voluntary – e.g. Crompton Greaves
• 1/4/16 – mandatory net worth >= 500 cr listed & unlisted
• 1/4/17 – mandatory net worth > =250 cr unlisted Listed – all remaining are
covered from 1/4/17
• Net worth on 31/3/14
• Any such company covered, it means its all groups companies are
covered – holding, subsidiary, associate, joint ventures
• Schedule III format of Ind AS financial statements by MCA declared Feb
2016
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19. Roadmap for Implementation on Ind ASs
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 On 11 February 2016, the Reserve Bank of India (RBI)
 circular RBI/2015-16/315
 requires scheduled commercial banks to comply Ind AS
 accounting periods beginning from 1 April 2018 onwards comparatives for ending 31
March 2018
 both standalone & consolidated financial statements
 This circular reiterates the timeline for Ind AS implementation by banks that was issued
by MCA - press release dtd 18 January 2016
 further direction on critical issues that banks need to consider in their Ind AS
implementation plan
 need to be in preparedness to submit proforma Ind AS financial statements to the
Reserve Bank from the half-year ended September 30, 2016, onwards & strategy for Ind
AS implementation, including the progress made in this regard. These disclosures shall
be made from the financial year 2016-17 until implementation

20. Thank you
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Contact & whatsapp :
+91 9167446744
Email:
mohanbhave@gmail.com
mohanbhave@consultIFRS.com
Rammohan N Bhave
Limca Record Holder on IFRS
FCA, FCMA, ACS, LL.B. (G.),
IFRS – ICAI, Six sigma green belt.
Diploma in IFRS, ACCA, London