Page 68 - Focus Group

IFRS vs LIFE

No. IFRS LIFE

IFRS 1 First-time Adoption of Adoption of a religion, caste or language
1
IFRS that our forefather selected

2 IFRS 2 Share-based Payment Work more for home activities and earn
more Pocket money

IFRS 3 Business Combinations Marriage, one word that combines
3
everything

4 IFRS 4 & 17 Insurance Contracts Shravan Kumar, a child who took care
of all Parents wishes

IFRS 5 Non-current Assets Held Marriage proposal for off-track child
5 for Sale and Discontinued
Operations

6 IFRS 6 Exploration for and Traveling abroad to explore dreams
Evaluation of Mineral Resources

IFRS 7 Financial Instruments: All assets/liabilities disclosed during
7
Disclosures arrange marriage proposal

8 IFRS 8 Operating Segments "BAAKI SAB SAHI" - relatives to be
informed whether family is Operating
well

68 TAX JOURNAL 2020 The Institute of Chartered Accountants of India (Dubai) Chapter NPIO