new indian accounting standards

The Ministry of Corporate Affairs of Govt. of India published recently (25-02-2011) 35 new Indian Accounting Standards converged with IFRS. Actually, they are verbetam copies of IAS and IFRS. Even they did not serial it instead adopted the same number of IAS. For a change, they started for IFRS in IND AS 101. That is all. But a good thing. The IFRIC and SIC are incorporated under the respective Accounting Standards for easy following. It is better that the govt can announce the date of implementation of these new Standards. Yes, there are so many issues to be resolved. Still they can start for implementation atleast from 1st April 2012 instead of from 1st April 2011. The earlier the better to implement so that the problem areas can be identified for resolving quickly.