Phase Name

End Date
Jun-09

Study of IFRS

###

Populate the Indian GAAP IFRS questionnaire

###
Study of IFRS
Identifying Areas of Impact

###

Subsidiary questionnaire package for IFRS

implementation

###

Trial Balance Completeness

Memo Preparation

###

IFRS 1 Option Election

###

Draft IFRS Accounting Policies

###

Computation of Differences between IGAAP & IFRS ###

Preparation of Retained Earnings Reconciliation

###

Preparation of opening balance sheet as on April 1,

2009 (date of transition)
Modification to systems and key controls
Preparation of income statement for the Quarterly
accounts
###

Description of Phase
Study of IFRS - This is the knowledge accumulation
phase where the IFRS implementation team studied
intensively the relevant materials to equip themselves
with the requisite domain knowledge.
Populate the Indian GAAP IFRS questionnaire
Areas of accounting covered by I GAAP which will
henceforth be replaced by IFRS were identified based on
the study of IFRS in the previous phase. A questionnaire
from Deloitte was received and answered by the IFRS
implementation team during this phase.
Identifying Areas of Impact
The specific areas of impact where change of accounting
from I GAAP to IFRS is expected to affect have been
identified

TCS Internal

Jul-09

Aug-09

Sep-09 Oct-09 Nov-09

Subsidiary questionnaire package for IFRS

implementation
Based on the study of IFRS and the questionnaire from
Deloitte , a questionnaire was designed customized to the
subsidiaries needs . The same has been circulated to the
subsidiaries and clarifications / guidance are being
provided to them wherever required. By the end of this
phase, subsidiaries are expected to get a sufficient
comfort level in IFRS and also submit their completed
questionnaire to the corporate implementation team.
Trial Balance Completeness
Based on the questionnaire replies submitted by the
subsidiaries , the IFRS implementation team ensures that
the trial balance of each subsidiary is complete with the
relevant natural account codes. All account codes should
be suitably mapped to line items in the financial
statements. This phase can be performed concurrently
with the previous phase.
Memo Preparation
This phase can be performed concurrently with phase 4.
Memos are prepared on distinct areas of accounting.
These memos form the basis of conclusions for option
election under IFRS and subsequent drafting of
accounting policies.
IFRS 1 Option Election
Evaluation, recommendation and election of options
provided under IFRS for first time adopters is done in this
stage. This is a very critical stage since options once
elected cannot be reversed.
Draft IFRS Accounting Policies
The accounting policies on various accounting areas
need to be drafted based on the IFRS standards and the
options elected . This too is a very critical stage since the
accounting policies provide the framework to the financial
statements and changes are not easy .
Computation of Differences between IGAAP & IFRS
The differences between I GAAP and IFRS is crystallized
at this stage and the impact analyzed in quantitative
terms
Preparation of Retained Earnings Reconciliation
The opening retained earnings needs to reflect the
cumulative effect of adjustment of assets / liabilities due
to conversion into IFRS. The retained earnings as per I
GAAP needs to be reconciled with the opening retained
earnings as per IFRS.

TCS Internal

Preparation of opening balance sheet as on April 1,

2009 (date of transition)
Modification to systems and key controls
Includes preparation of set of books in Ultimatix and
thereafter consolidation in Hyperion.
Preparation of income statement for the Quarterly
accounts

TCS Internal

Dec-09

### Feb-10

TCS Internal

Mar-10

Apr-10

May-10

Jun-10

Jul-10

Aug-10

TCS Internal

TCS Internal

Sep-10

TCS Internal

Oct-10

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week 07-Sep-09
Pre
Dat 4-Sep-09
Rec TCS
Corporate Accounts , IFRS Implementation , CFO's office
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl. Phase
Activity Detail
No

Status Delayed
(%)
(Only
based on
Finish
Date)
100%

A
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Study of IFRS
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

B
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

C
1 IFRS 1
2 IFRS 3

TCS Internal

Identifying Areas of Impact

First time adoption of IFRSs
Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Subsidiary questionnaire package for IFRS implementation

Step 1. Preparation of the Questionnaire
IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing
F
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

Memo Preparation
IAS 2
IAS 12
IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives

IAS 39

Financial instruments - recognition and measurements

1
2
3
4
5
6
7
8
9
10
11

IFRS 1 Option Election

Evaluation, recommendation and election of the optional exemptions and
mandatory exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

H
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

Draft IFRS Accounting Policies

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J
1

TCS Internal

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation
Reconciliation of Opening retained earnings from I GAAP to IFRS

1
2
3
4
5
6
7

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

This process will involve the following:
Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

1
2
3
4
5
6
7

Preparation of income statement for the Quarterly accounts

This process will involve the following:
Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.
Status
Plan / Management
No
Attention - TCS &
Customer

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Type

Date
Raised

Status
Conclusion

Program as Planned
1.
2.

On
End Date(Planned)
Critical PR - Preparation
Path
TR - Team Review
AR - Audit Review
MR - Mgmt. Review
No

No
No
No
No

10-Aug-09 (PR)
17-Aug-09
(TR)
24Aug-09 (AR)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

Finance (FIN)

27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

Dependency
/ Action

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

24-Aug-09

No

15-Jun-09 (PR)
22-Jun-09
(TR)
29Jun-09 (AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
10-Sep-09
10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
15-Sep-09

No

23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No

Finance (FIN)

10-Aug-09
(TR)
17Aug-09 (AR)

TCS Internal

Finance (FIN)

27-Jul-09

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)

No
No

No
No

Finance (FIN)

31-Aug-09
(TR)
04Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
Yes

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
10-Sep-09

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

Subsidary
Finance

25-Sep-09 (PR)
01-Oct-09
(TR)
11Oct-09 (AR)

Subsidary
Finance

TCS Internal

Finance (FIN)

No

No

No

07-Sep-09 (PR)
7-Sep-09
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

Finance (FIN)

Finance (FIN)

25-Sep-09
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

(TR)
Sep-09 (AR)

29-

23-Sep-09 (PR)
25-Sep-09
(TR)
29Sep-09
(AR)
05-Oct-09 (PR)
07-Oct-09 (TR)
14-Oct09 (AR)

No
No
No
No
No
No
No
No
No
No
No

TCS Internal

Finance (FIN)

Finance (FIN)

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

09-Nov-09 (PR)
11-Nov-09
(TR)
16Nov-09 (AR)
20Nov-09 (MR)

Finance (FIN)

30-Nov-09 (PR)
04-Dec-09
(TR)
11Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
21-Dec-09
(TR)
23Dec-09 (AR)

Finance (FIN)

TCS Internal

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

an / Management
tention - TCS &
Customer

Follow-up action

TCS Internal

Date Resolved

IFRS Implementation
Status for the Week 14-Sep-09
Pre
Dat 14-Sep-09
Rec TCS
Corporate Accounts , IFRS Implementation , CFO's office
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl. Phase
Activity Detail
No

Status
(%)

100%
A
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Study of IFRS
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Delayed
(Only
based on
Finish
Date)

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

B
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

C
1 IFRS 1
2 IFRS 3

TCS Internal

Identifying Areas of Impact

First time adoption of IFRSs
Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Subsidiary questionnaire package for IFRS implementation

Step 1. Preparation of the Questionnaire
IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

??
E

Trial Balance Completeness

1
Review of all natural account codes for completeness testing
??
F
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

Memo Preparation
IAS 2
IAS 12
IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives

IAS 39

Financial instruments - recognition and measurements

1
2
3
4
5
6
7
8
9
10
11

IFRS 1 Option Election

Evaluation, recommendation and election of the optional exemptions and mandatory
exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

H
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

Draft IFRS Accounting Policies

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J
1

TCS Internal

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation
Reconciliation of Opening retained earnings from I GAAP to IFRS

1
2
3
4
5
6
7

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

This process will involve the following:
Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

1
2
3
4
5
6
7

Preparation of income statement for the Quarterly accounts

This process will involve the following:
Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.
Status
Plan / Management
No
Attention - TCS & Customer

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Type

Date
Raised

Status
Conclusion

Program as Planned
1.
2.

On
End Date(Planned)
Critical PR - Preparation
Path
TR - Team Review
AR - Audit Review
MR - Mgmt. Review
No

No
No
No
No

10-Aug-09 (PR)
17-Aug-09
(TR)
24Aug-09 (AR)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

Finance (FIN)

27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

Dependency
/ Action

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

24-Aug-09

No

15-Jun-09 (PR)
22-Jun-09
(TR)
29Jun-09 (AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09
10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09

No

23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No

Finance (FIN)

10-Aug-09
(TR)
17Aug-09 (AR)

TCS Internal

Finance (FIN)

27-Jul-09

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
Yes

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

Finance (FIN)

31-Aug-09
(TR)
04Sep-09 (AR)

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

Subsidary
Finance

25-Sep-09 (PR)
01-Oct-09
(TR)
11Oct-09 (AR)

Subsidary
Finance

TCS Internal

Finance (FIN)

No

No

No

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

Finance (FIN)

Finance (FIN)

25-Sep-09
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

(TR)
Sep-09 (AR)

29-

23-Sep-09 (PR)
25-Sep-09
(TR)
29Sep-09
(AR)
05-Oct-09 (PR)
07-Oct-09 (TR)
14-Oct09 (AR)

No
No
No
No
No
No
No
No
No
No
No

TCS Internal

Finance (FIN)

Finance (FIN)

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

09-Nov-09 (PR)
11-Nov-09
(TR)
16Nov-09 (AR)
20Nov-09 (MR)

Finance (FIN)

30-Nov-09 (PR)
04-Dec-09
(TR)
11Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
21-Dec-09
(TR)
23Dec-09 (AR)

Finance (FIN)

TCS Internal

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

n / Management
n - TCS & Customer

Follow-up action

TCS Internal

Date Resolved

IFRS Implementation
Status for the Week 21-Sep-09
Pre
Dat 14-Sep-09
Rec TCS
Corporate Accounts , IFRS Implementation , CFO's office
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl. Phase
Activity Detail
No

Status
(%)

100%
A
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Study of IFRS
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Delayed
(Only
based on
Finish
Date)

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

B
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

C
1 IFRS 1
2 IFRS 3

TCS Internal

Identifying Areas of Impact

First time adoption of IFRSs
Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Subsidiary questionnaire package for IFRS implementation

Step 1. Preparation of the Questionnaire
IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing
F
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

Memo Preparation
IAS 2
IAS 12
IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives

IAS 39

Financial instruments - recognition and measurements

1
2
3
4
5
6
7
8
9
10
11

IFRS 1 Option Election

Evaluation, recommendation and election of the optional exemptions and mandatory
exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

H
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

Draft IFRS Accounting Policies

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J
1

TCS Internal

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation
Reconciliation of Opening retained earnings from I GAAP to IFRS

1
2
3
4
5
6
7

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

This process will involve the following:
Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

1
2
3
4
5
6
7

Preparation of income statement for the Quarterly accounts

This process will involve the following:
Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.
Status
Plan / Management
No
Attention - TCS & Customer

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Type

Date
Raised

Status
Conclusion

Program as Planned
1.
2.

On
End Date(Planned)
Critical PR - Preparation
Path
TR - Team Review
AR - Audit Review
MR - Mgmt. Review
No

No
No
No
No

10-Aug-09 (PR)
17-Aug-09
(TR)
24Aug-09 (AR)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

Finance (FIN)

27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

Dependency
/ Action

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

24-Aug-09

No

15-Jun-09 (PR)
22-Jun-09
(TR)
29Jun-09 (AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09
10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09

No

23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No

10-Aug-09
(TR)
17Aug-09 (AR)

TCS Internal

Finance (FIN)

Finance (FIN)

11-Sep-09
27-Jul-09

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)

No
No

No
No

Finance (FIN)

31-Aug-09
(TR)
04Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

25-Sep-09 (PR)
01-Oct-09
(TR)
11Oct-09 (AR)

TCS Internal

22-Sep-09

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

07-Sep-09 (PR)
7-Sep-09
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

Finance (FIN)

Finance (FIN)

25-Sep-09
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

(TR)
Sep-09 (AR)

29-

23-Sep-09 (PR)
25-Sep-09
(TR)
29Sep-09
(AR)
05-Oct-09 (PR)
07-Oct-09 (TR)
14-Oct09 (AR)

No
No
No
No
No
No
No
No
No
No
No

TCS Internal

22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09

Finance (FIN)

Finance (FIN)

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

09-Nov-09 (PR)
11-Nov-09
(TR)
16Nov-09 (AR)
20Nov-09 (MR)

Finance (FIN)

30-Nov-09 (PR)
04-Dec-09
(TR)
11Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
21-Dec-09
(TR)
23Dec-09 (AR)

Finance (FIN)

TCS Internal

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

n / Management
n - TCS & Customer

Follow-up action

TCS Internal

Date Resolved

IFRS Implementation
Status for the Week 28-Sep-09
Prepared b
Date
28-Sep-09
Recipients TCS
Corporate Accounts , IFRS Implementation , CFO's office
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 2
IAS 12
IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11
12

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment
Financial assets or intangible assets accounted for in accordance
with IFRIC 12 Service Concession Arrangements

TCS Internal

1
2
3
4

2. Mandatory Exemptions
Estimates
Derecognition of financial assets and financial liabilities
Hedge accounting
Non-controlling interests

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

-Sep-09

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review
10-Aug-09 (PR)
17-Aug-09
(TR)
24Aug-09 (AR)

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

Finance (FIN)

27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

Dependency
/ Action

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

24-Aug-09

No

15-Jun-09 (PR)
22-Jun-09
(TR)
29Jun-09 (AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09
10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09

No

23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No

TCS Internal

10-Aug-09
(TR)
17Aug-09 (AR)

Finance (FIN)

Finance (FIN)

11-Sep-09
27-Jul-09

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)

No
No

No
No

TCS Internal

Finance (FIN)

31-Aug-09
(TR)
04Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

25-Sep-09 (PR)
01-Oct-09
(TR)
11Oct-09 (AR)

22-Sep-09

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

07-Sep-09 (PR)
7-Sep-09
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

Finance (FIN)

Finance (FIN)

25-Sep-09
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

(TR)
Sep-09 (AR)

29-

05-Oct-09 (PR)
07-Oct-09 (TR)
14-Oct09 (AR)

22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09

Finance (FIN)
Finance (FIN)

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

09-Nov-09 (PR)
11-Nov-09
(TR)
16Nov-09 (AR)
20Nov-09 (MR)

Finance (FIN)

30-Nov-09 (PR)
04-Dec-09
(TR)
11Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
21-Dec-09
(TR)
23Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

IFRS Implementation
Status for the Week 05-Oct-09
Prepared b
Date
28-Sep-09
Recipients TCS
Corporate Accounts , IFRS Implementation , CFO's office
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 2
IAS 12
IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11
12

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment
Financial assets or intangible assets accounted for in accordance
with IFRIC 12 Service Concession Arrangements

TCS Internal

1
2
3
4

2. Mandatory Exemptions
Estimates
Derecognition of financial assets and financial liabilities
Hedge accounting
Non-controlling interests

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

-Oct-09

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review
10-Aug-09 (PR)
17-Aug-09
(TR)
24Aug-09 (AR)

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

Finance (FIN)

27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

Dependency
/ Action

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

24-Aug-09

No

15-Jun-09 (PR)
22-Jun-09
(TR)
29Jun-09 (AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09
10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09

No

23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No

TCS Internal

10-Aug-09
(TR)
17Aug-09 (AR)

Finance (FIN)

Finance (FIN)

11-Sep-09
27-Jul-09

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)

No
No

No
No

TCS Internal

Finance (FIN)

31-Aug-09
(TR)
04Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

25-Sep-09 (PR)
01-Oct-09
(TR)
11Oct-09 (AR)

22-Sep-09

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

07-Sep-09 (PR)
7-Sep-09
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

Finance (FIN)

Finance (FIN)

25-Sep-09
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

(TR)
Sep-09 (AR)

2922-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09

05-Oct-09 (PR)
07-Oct-09 (TR)
14-Oct09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No

9-Oct-09

TCS Internal

Finance (FIN)
Finance (FIN)

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
11-Nov-09
(TR)
16Nov-09 (AR)
20Nov-09 (MR)

Finance (FIN)

30-Nov-09 (PR)
04-Dec-09
(TR)
11Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
21-Dec-09
(TR)
23Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

IFRS Implementation
Status for the Week 12-Oct-09
Prepared b
Date
28-Sep-09
Recipients TCS
Corporate Accounts , IFRS Implementation , CFO's office
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 2
IAS 12
IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11
12

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment
Financial assets or intangible assets accounted for in accordance
with IFRIC 12 Service Concession Arrangements

TCS Internal

1
2
3
4

2. Mandatory Exemptions
Estimates
Derecognition of financial assets and financial liabilities
Hedge accounting
Non-controlling interests

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

-Oct-09

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review
10-Aug-09 (PR)
17-Aug-09
(TR)
24Aug-09 (AR)

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

Finance (FIN)

27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

Dependency
/ Action

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

24-Aug-09

No

15-Jun-09 (PR)
22-Jun-09
(TR)
29Jun-09 (AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09
10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09

No

23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No

TCS Internal

10-Aug-09
(TR)
17Aug-09 (AR)

Finance (FIN)

Finance (FIN)

11-Sep-09
27-Jul-09

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)

No
No

No
No

TCS Internal

Finance (FIN)

31-Aug-09
(TR)
04Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

25-Sep-09 (PR)
01-Oct-09
(TR)
11Oct-09 (AR)

22-Sep-09

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

07-Sep-09 (PR)
7-Sep-09
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

Finance (FIN)

Finance (FIN)

25-Sep-09
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

(TR)
Sep-09 (AR)

2922-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09

05-Oct-09 (PR)
07-Oct-09 (TR)
14-Oct09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No

9-Oct-09

TCS Internal

Finance (FIN)
Finance (FIN)

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
11-Nov-09
(TR)
16Nov-09 (AR)
20Nov-09 (MR)

Finance (FIN)

30-Nov-09 (PR)
04-Dec-09
(TR)
11Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
21-Dec-09
(TR)
23Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

IFRS Implementation
Status for the Week 12-Oct-09
Prepared b
Date
28-Sep-09
Recipients TCS
Corporate Accounts , IFRS Implementation , CFO's office
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

-Oct-09

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review
10-Aug-09 (PR)
17-Aug-09
(TR)
24Aug-09 (AR)

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

Finance (FIN)

27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

24-Aug-09

No

15-Jun-09 (PR)
22-Jun-09
(TR)
29Jun-09 (AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09
10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09

No

23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No

TCS Internal

10-Aug-09
(TR)
17Aug-09 (AR)

Finance (FIN)

Finance (FIN)

11-Sep-09
27-Jul-09

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)

No
No

No
No

TCS Internal

Finance (FIN)

31-Aug-09
(TR)
04Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

25-Sep-09 (PR)
01-Oct-09
(TR)
11Oct-09 (AR)

22-Sep-09

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
09-Sep-09
(TR)
11- (TR)
23Sep-09
(AR)
Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
(TR)
29Sep-09 (AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
11-Nov-09
(TR)
16Nov-09 (AR)
20Nov-09 (MR)

Finance (FIN)

30-Nov-09 (PR)
04-Dec-09
(TR)
11Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
21-Dec-09
(TR)
23Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week 12-Oct-09
Prepared b
Date
28-Sep-09
Recipients TCS
Corporate Accounts , IFRS Implementation , CFO's office
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

-Oct-09

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review
10-Aug-09 (PR)
17-Aug-09
(TR)
24Aug-09 (AR)

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

Finance (FIN)

27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

24-Aug-09

No

15-Jun-09 (PR)
22-Jun-09
(TR)
29Jun-09 (AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09
10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09

No

23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No

TCS Internal

10-Aug-09
(TR)
17Aug-09 (AR)

Finance (FIN)

Finance (FIN)

11-Sep-09
27-Jul-09

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)

No
No

No
No

TCS Internal

Finance (FIN)

31-Aug-09
(TR)
04Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
11-Nov-09
(TR)
16Nov-09 (AR)
20Nov-09 (MR)

Finance (FIN)

30-Nov-09 (PR)
04-Dec-09
(TR)
11Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
21-Dec-09
(TR)
23Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week 12-Oct-09
Prepared b
Date
28-Sep-09
Recipients TCS
Corporate Accounts , IFRS Implementation , CFO's office
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

-Oct-09

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
11-Nov-09
(TR)
16Nov-09 (AR)
20Nov-09 (MR)

Finance (FIN)

30-Nov-09 (PR)
04-Dec-09
(TR)
11Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
21-Dec-09
(TR)
23Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week 12-Oct-09
Prepared b
Date
28-Sep-09
Recipients TCS
Corporate Accounts , IFRS Implementation , CFO's office
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

-Oct-09

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
Nov-09 (AR)
20Nov-09 (MR)

Finance (FIN)

30-Nov-09 (PR)
04-Dec-09
(TR)
11Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
21-Dec-09
(TR)
23Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week 12-Oct-09
Prepared b
Date
23-Nov-09
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

-Oct-09

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
Nov-09 (AR)
20Nov-09 (MR)

Finance (FIN)

30-Nov-09 (PR)
04-Dec-09
(TR)
11Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
21-Dec-09
(TR)
23Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 23-Nov- 2009
Prepared b
Date
30-Nov-09
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

g 23-Nov- 2009

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
Finance (FIN)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
11Dec-09 (AR)
Dec-09 (AR)

18-Dec-09 (PR)
21-Dec-09
(TR)
23Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 23-Nov- 2009
Prepared b
Date
12-Jul-09
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

g 23-Nov- 2009

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
Finance (FIN)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
11Dec-09 (AR)
Dec-09 (AR)

18-Dec-09 (PR)
21-Dec-09
(TR)
23Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 23-Nov- 2009
Prepared b
Date
12-Jul-09
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

g 23-Nov- 2009

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
Finance (FIN)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
11Dec-09 (AR)
Dec-09 (AR)

18-Dec-09 (PR)
21-Dec-09
(TR)
23Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 23-Nov- 2009
Prepared b
Date
12-Jul-09
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

g 23-Nov- 2009

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
18-Dec-09 (PR)
21-Dec-09
21-Dec-09
(TR)
23- (TR)
Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 21-Dec- 2009
Prepared b
Date
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

g 21-Dec- 2009

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
18-Dec-09 (PR)
21-Dec-09
21-Dec-09
(TR)
23- (TR)
Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 28-Dec- 2009
Prepared b
Date
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

g 28-Dec- 2009

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
18-Dec-09 (PR)
21-Dec-09
21-Dec-09
(TR)
23- (TR)
Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 04-Jan- 2010
Prepared b
Date
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

g 04-Jan- 2010

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
18-Dec-09 (PR)
21-Dec-09
21-Dec-09
(TR)
23- (TR)
Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
31-Dec-09 (PR)
07-Jan-10
07-Jan-10
(TR)
14- (TR)
Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 11-Jan- 2010
Prepared b
Date
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

g 11-Jan- 2010

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
18-Dec-09 (PR)
21-Dec-09
21-Dec-09
(TR)
23- (TR)
Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
31-Dec-09 (PR)
07-Jan-10
(TR)
14Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 11-Jan- 2010
Prepared b
Date
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

g 11-Jan- 2010

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
18-Dec-09 (PR)
21-Dec-09
21-Dec-09
(TR)
23- (TR)
Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
31-Dec-09 (PR)
07-Jan-10
07-Jan-10
(TR)
14- (TR)
Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 11-Jan- 2010
Prepared b
Date
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

g 11-Jan- 2010

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
18-Dec-09 (PR)
21-Dec-09
21-Dec-09
(TR)
23- (TR)
Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
31-Dec-09 (PR)
07-Jan-10
07-Jan-10
(TR)
14- (TR)
Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 1-Feb- 2010
Prepared b
Date
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

g 1-Feb- 2010

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
18-Dec-09 (PR)
21-Dec-09
21-Dec-09
(TR)
23- (TR)
Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
31-Dec-09 (PR)
07-Jan-10
07-Jan-10
(TR)
14- (TR)
Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 8-Feb- 2010
Prepared b
Date
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

g 8-Feb- 2010

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
18-Dec-09 (PR)
21-Dec-09
21-Dec-09
(TR)
23- (TR)
Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
31-Dec-09 (PR)
07-Jan-10
07-Jan-10
(TR)
14- (TR)
Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 15-Feb- 2010
Prepared b
Date
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

g 15-Feb- 2010

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
18-Dec-09 (PR)
21-Dec-09
21-Dec-09
(TR)
23- (TR)
Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
31-Dec-09 (PR)
07-Jan-10
07-Jan-10
(TR)
14- (TR)
Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 15-Feb- 2010
Prepared b
Date
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation

g 15-Feb- 2010

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
18-Dec-09 (PR)
21-Dec-09
21-Dec-09
(TR)
23- (TR)
Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
31-Dec-09 (PR)
07-Jan-10
07-Jan-10
(TR)
14- (TR)
Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 02-March-2010
Prepared b
Date
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation
02-March-2010

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
18-Dec-09 (PR)
21-Dec-09
21-Dec-09
(TR)
23- (TR)
Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
31-Dec-09 (PR)
07-Jan-10
07-Jan-10
(TR)
14- (TR)
Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

IFRS Implementation
Status for the Week beginning 15-March-2010
Prepared b
Date
Recipients TCS
Corporate Accounts , IFRS Implementation
Deloitte

Activities Status (All Early Start/ Planned Start/ Late Start activities)
Sl.No
Phase
Activity Detail

Status
(%)

100%
A

Study of IFRS
1 IAS 1
2 IAS 2
3 IAS 7
4
IAS 8
5 IAS 10
6 IAS 11
7 IAS 12
8 IAS 16
9 IAS 17
10 IAS 18
11 IAS 19
12 IAS 20
13 IAS 21
14 IAS 23
15 IAS 24
16 IAS 26
17 IAS 27
18 IAS 28
19 IAS 31
20 IAS 32
21 IAS 33
22 IAS 34
23 IAS 36
24 IAS 37

TCS Internal

Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the reporting period
Construction contracts
Income taxes
Property, plant and equipments
Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Borrowing Costs
Related party disclosure
Accounting and reporting by retirement benefit plans
Consolidated and separated financial statements
Investments in associates
Interest in joint ventures
Financial instrument presentation
Earning per share
Interim financial reporting
Impairment of assets
Provisions, contingent liability and contingent assets

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Intangible assets
Financial instruments - recognition and measurements
Investment property
Share based payments
Business combination
Non current asset held for sale and discontinued operation
Financial instrument - Disclosure
Operating segments
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
34 IFRIC 4 Arrangement contains lease
35 IFRIC 12 Service concession arrangements
36 IFRIC 13 Customer loyalty programme
Consolidation - Special Purpose Entity (SPE)
37 SIC 12
SIC
15
Operating lease - Incentives
38
Evaluating the substance of transactions involving the legal form
39
SIC 27
of a lease
IFRS 1 - First Time Adoption
40 IFRS 1
25
26
27
28
29
30
31
32
33

IAS 38
IAS 39
IAS 40
IFRS 2
IFRS 3
IFRS 5
IFRS 7
IFRS 8

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Populate the Indian GAAP IFRS questionnaire

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS 16
IAS 17
IAS 18
IFRS 8
IAS 2
IAS 21
IFRS 5
IAS 36
IAS 20
IAS 19
IFRS 3
IAS 23
IAS 38
IAS 27
IFRS 2
IAS 12
IAS 33
IAS 37

Property, plant and equipments

Leases
Revenue Recognition
Operating Segments
Inventories
Foreign Currency Translations
Assets Held for Sale & Discontinued Operations
Impairment of Assets
Government Grants
Employee Benefits
Business Combination
Borrowing Costs
Intangibles
Consolidation, Equity Method, JVs
Share Based Payments
Income Tax
Earning Per Share (EPS)
Provisions and Contingencies

IAS 39

Financial Instruments

20

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
IFRS 1

IFRS 1 - First Time Adoption

100%

Identifying Areas of Impact

1 IFRS 1
2 IFRS 3

TCS Internal

First time adoption of IFRSs

Business Combinations

100%
100%

3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IFRS 8
IAS 1
IAS 2
IAS 7
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 19
IAS 21
IAS 27
IAS 36
IAS 37
IAS 38
IAS 20

Operating Segments
Presentation of Financial Statements
Inventories
Statement of Cash Flows
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Employee Benefits
Foreign Currency Translation
Consolidation, Equity Method, and Joint Ventures
Impairment of Assets
Provisions and Contingencies
Intangible Assets
Government Grants

IAS 39

Financial Instruments

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

100%
D

Subsidiary questionnaire package for IFRS implementation

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Step 1. Preparation of the Questionnaire

IAS 2
Inventories
IAS 12
Income taxes
IAS 16
Property, plant and equipments
IAS 17
Leases
IAS 19
Employee Benefits
IAS 20
Accounting Govt grants and disclosure of Govt assistance
IAS 21
Effect of changes in foreign exchange rates
IAS 37
Provisions, contingent liability and contingent assets
IAS 39
Financial instruments - recognition and measurements
IAS 40
Investment property
Changes in existing decommissioning, restoration and similar
IFRIC 1 liabilities
IFRIC 4 Arrangement contains lease
IFRIC 12 Service concession arrangements
SIC 15
Operating lease - Incentives
Evaluating the substance of transactions involving the legal form
SIC 27
of a lease
Step 2. Subsidiaries understanding the questionnaire with
guidance from the IFRS team

Step 3. Completion of the questionnaire by the subsidiaries

Step 4. Familiarising the subsidiaries with IFRS

TCS Internal

Trial Balance Completeness

1
Review of all natural account codes for completeness testing

Memo Preparation
1 IAS 2
2 IAS 12
3

4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

IAS 16
IAS 17
IAS 18
IAS 19
IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15
IAS 39

Inventories
Income taxes

Property, plant and equipments

Leases
Revenue
Employee Benefits
Accounting Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangements
Operating lease - Incentives
Financial instruments - recognition and measurements
IFRS 1 Option Election

1
2
3
4
5
6
7
8
9
10
11

Evaluation, recommendation and election of the optional exemptions and mandatory

exceptions as per IFRS 1.
1. Optional Exemptions
Business Combination
Fair value or revaluation as deemed cost
Leases
Employee benefits
Cumulative translation differences
Investments in subsidiaries, jointly controlled entities and
associates
Assets and liabilities of subsidiaries, associates and joint
ventures
Compound financial instruments
Designation of previously recognised financial instruments
Fair value measurement of financial assets or financial liabilities
at initial recognition
Decommissioning liabilities included in the cost of property, plant
and equipment

TCS Internal

Financial assets or intangible assets accounted for in accordance

with IFRIC 12 Service Concession Arrangements
2. Mandatory Exemptions
Estimates
1
Derecognition of financial assets and financial liabilities
2
Hedge accounting
3
Non-controlling interests
4

12

Draft IFRS Accounting Policies

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

IAS
IAS
IAS
IAS
IAS
IAS
IAS

2
12
16
17
40
18
19

IAS 20
IAS 21
IAS 27
IAS 36
IAS 38
IAS 39
IFRS 1
IFRS 3
IFRS 8
IFRIC 4
IFRIC 12
SIC 15

Inventories
Income taxes
Property, plant and equipment
Leases
Investment property
Revenue
Employee Benefits
Accounting for Govt grants and disclosure of Govt assistance
Effect of changes in foreign exchange rates
Consolidated and separated financial statements
Impairment of assets
Intangible assets
Financial instruments - recognition and measurements
IFRS 1 - First Time Adoption
Business combination
Operating segments
Arrangement contains lease
Service concession arrangement
Operating lease - Incentives
Computation of Differences between IGAAP & IFRS

IFRS 3
IAS 2
IAS 12
IAS 16
IAS 17
IFRIC 4
IFRIC 12
IAS 39
IAS 38
IAS 20
J

Business Combinations
Inventories
Income Taxes
Property, Plant and Equipment
Leases
Arrangement contains lease
Service concession arrangements
Financial Instruments
Intangible Assets
Government Grants
Other Considerations
Preparation of Retained Earnings Reconciliation

TCS Internal

Reconciliation of Opening retained earnings from I GAAP to IFRS

Preparation of opening balance sheet as on April 1, 2009 (date of transition)

1
2
3
4
5
6
7

This process will involve the following:

Mapping the Trial Balance to the line items as per IFRS
Reclassification of accounts
Identifying the adjustments to be done for IFRS
Preparation
of IFRSreconciliation
Consol Pack required
Format to be disclosed for the first
Opening
Reserves
time adoption of IFRS
Backup data preparation for IFRS adjustments
Preparation of Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Consolidated Balance Sheet as on the transition date

8
9
L

Modification to systems and key controls

Step 1 : Creation of Set of Books on Ultimatix
Step 2 : Consolidation on Hyperion

Preparation of income statement for the Quarterly accounts

1
2
3
4
5
6
7

This process will involve the following:

Identifying
the adjustments
to be to
done
for IFRS for the first time
Three
way reconciliation
required
be disclosed
adoption of IFRS
Backup data preparation for IFRS adjustments
Trial balance as per IFRS and adjustment entries
Finalization of subsidiary accounts as per IFRS
Preparation of Consolidated Income Statement
Inter-GAAP Profit reconciliation

Future Activities Plan (Projections for the next 2 months) / Dependent Initiatives Status
Sl.No
Status

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id.

TCS Internal

Plan / Management

Type

ation
15-March-2010

Status
Conclusion

Program as Planned
1.
2.

Delayed On
(Only
Critical
based on Path
Finish
Date)
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

TCS Internal

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

End Date(Actual)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Stakeholder

10-Aug-09 (PR)
10-Aug-09 (PR)
Finance (FIN)
17-Aug-09
17-Aug-09
(TR)
24- (TR)
24Aug-09 (AR)
Aug-09 (AR)
27-Jul-09
8-Jun-09
27-Jul-09
27-Jul-09
27-Jul-09
8-Jun-09
22-Jun-09
1-Jun-09
1-Jun-09
8-Jun-09
8-Jun-09
15-Jun-09
15-Jun-09
22-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
27-Jul-09
29-Jun-09
15-Jun-09

No
No
No
No
No
No
No
No
No

29-Jun-09
22-Jun-09
1-Jun-09
8-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
29-Jun-09
1-Jun-09

No
No
No
No
No
No

8-Jun-09
8-Jun-09
8-Jun-09
29-Jun-09
1-Jun-09
1-Jun-09

No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

24-Aug-09
15-Jun-09 (PR)
15-Jun-09 (PR)
Finance (FIN)
22-Jun-09
22-Jun-09
(TR)
29- (TR)
29Jun-09 (AR)
Jun-09
(AR)
8-Jun-09
8-Jun-09
15-Jun-09
22-Jun-09
15-Jun-09
22-Jun-09
29-Jun-09
29-Jun-09
22-Jun-09
15-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
29-Jun-09
15-Jun-09
29-Jun-09
15-Jun-09
22-Jun-09
11-Sep-09

No

10-Sep-09 (PR)
12-Sep-09
(TR)
14Sep-09
(AR)
21-Sep-09 (PR)
11-Sep-09
23-Sep-09
(TR)
25Sep-09
(AR)
03-Aug-09 (PR)
03-Aug-09 (PR)

No
No

10-Aug-09
10-Aug-09
(TR)
17- (TR)
17Aug-09 (AR)
Aug-09 (AR)
11-Sep-09
27-Jul-09

No

TCS Internal

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No
No
No
No

29-Jun-09
27-Jul-09
22-Jun-09
27-Jul-09
29-Jun-09
8-Jun-09
8-Jun-09
3-Aug-09
3-Aug-09
3-Aug-09
10-Aug-09
27-Jul-09
10-Aug-09
17-Aug-09
17-Aug-09
29-Jun-09
11-Sep-09

18-Sep-09 (PR)
22-Sep-09
(TR)
30Sep-09
(AR)
28-Aug-09 (PR)
28-Aug-09 (PR)
Finance (FIN)
31-Aug-09
31-Aug-09
(TR)
04- (TR)
07Sep-09 (AR)
Sep-09 (AR)
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09

No
No
No
No
No
No
No

No
No

TCS Internal

7-Sep-09
7-Sep-09
7-Sep-09
7-Sep-09
11-Sep-09 (PR)

22-Sep-09

25-Sep-09 (PR)
25-Sep-09 (PR)
01-Oct-09
01-Oct-09
(TR)
11- (TR)
Oct-09 (AR)
29- OCT -09 ( AR)

Subsidary
Finance
Subsidary
Finance

Finance (FIN)

No

No

No

No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

ons and mandatory

07-Sep-09 (PR)
09-Sep-09
(TR)
11Sep-09
(AR)
23-Sep-09 (PR)

07-Sep-09 (PR)
Finance (FIN)
09-Sep-09
(TR)
23Oct-09
(AR)
23-Sep-09 (PR)
Finance (FIN)
25-Sep-09
25-Sep-09
(TR)
29- (TR)
28Sep-09 (AR)
Oct-09
(AR)
22-Sep-09
22-Sep-09
9/22/2009 (AR
completed 23-Oct-09)
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
22-Sep-09
23-Sep-09
Finance (FIN)
05-Oct-09 (PR)
05-Oct-09 (PR)
Finance (FIN)
07-Oct-09 (TR)
07-Oct-09 (TR)
14-Oct21-Oct09 (AR)
09 (AR)

No
No
No
No
No
No

9-Oct-09
5-Oct-09
9-Oct-09
5-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

No
No
No

9-Oct-09
9-Oct-09
9-Oct-09

No

9-Oct-09

TCS Internal

No

No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No

No
No
No
No
No
No
No
No
No
No
No
No

No

TCS Internal

9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
9-Oct-09
09-Nov-09 (PR)
09-Nov-09 (PR)
Finance (FIN)
11-Nov-09
11-Nov-09
(TR)
16- (TR)
16Nov-09 (AR)
20- Nov-09 (AR)
20Nov-09 (MR)
Nov-09 (MR)

30-Nov-09 (PR)
30-Nov-09 (PR)
04-Dec-09
04-Dec-09
(TR)
11- (TR)
Dec-09 (AR)

Finance (FIN)

18-Dec-09 (PR)
18-Dec-09 (PR)
21-Dec-09
21-Dec-09
(TR)
23- (TR)
Dec-09 (AR)

Finance (FIN)

No

31-Dec-09 (PR)
31-Dec-09 (PR)
07-Jan-10
07-Jan-10
(TR)
14- (TR)
Jan-10 (AR)

Finance (FIN)

31-Jan-10 (PR)

Ultimatix
Team

26-Feb-10 (PR)
11-Mar -10 ( TR )
02-Mar-10
(TR)
15Mar-10 (AR)

Finance (FIN)

No
No
No
No
No
No
No
No
No
No
No

No

No
No
No
No
No
No
No
No
No

Plan / Management

Date
Raised

TCS Internal

Follow-up action

Date Resolved

Dependency / Action

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

Ongoing Tasks
Sl. Phase
No

Activity Detail

End Date(Planned)
PR - Preparation
TR - Team Review
AR - Audit Review
MR - Mgmt. Review

Completion
Stakeholder
Status based on
Current
Schedule
Finance (FIN)

Modification to systems and key controls

TCS Internal

31-Jan-10 (PR)

Dependency /
Action

Preliminary call for understanding Subsidiary questionnaire

Sl N Subsidiary Call
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47

TAIC
TCS Canada Inc
ERI Holdings Corp
Exegenix Research Inc
TCS Deutschland GmbH
TCS Netherlands BV
TCS Italia SRL
TCS Luxembourg SA
TCS Switzerland Ltd
TCS France SAS
TCS Belgium SA
TCS Sverige AB
Diligenta Ltd UK -76%
TCS FNS Pty Ltd
TCS Management Pty Limited
TCS Financial Solutions Australia (Holdings) Pt
PT FNS
FNS Africa Pty Ltd
FNS (H.K) ltd
TCS Financial Solutions Australia Pty Limited
FNS Malaysa Sdn Bhdi
FNS Beijing Co. Ltd.
TCS Iberoamerica SA
TCS Solution Ctr SA
TCS Argentina SA (99%)
TCS Do Brazil Ltda
TCS De Espana SA
TCS Portugal Uni. Ltda
TCS De Mexico SA
TCS Inver. Chile Ltda -99.99%
TCS Chile S.A
TCS BPO Chile S.A
Tata Solution Center S.A.
Syscrom S.A
Custodia De Docum. Interes Ltda S.A
TCS APAC Pte Ltd
Tata Info Tech Shanghai Co. Ltd
TCS Malaysia Sdn Bhd
TCS Japan Ltd
PT TCS Indonesia
TCS Thailand Ltd
TCS Philippines Inc
TCS (China) Co., Ltd (72.22%)
Tata Infotech Singapore Pte Ltd
TCS Africa PTY Ltd -60%
TCS South Africa PTY Ltd (75%)
TCS Morocco SARL AU

TCS Internal

Date of call Geography

SPOC (Subsidiary)

9/9/2009
16/9/2009
16/9/2009
16/9/2009
11/9/2009
11/9/2009
11/9/2009
11/9/2009
11/9/2009
11/9/2009
11/9/2009
11/9/2009
11/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
15/9/2009
16/9/2009
16/9/2009
15/9/2009
16/9/2009
16/9/2009
15/9/2009
15/9/2009
15/9/2009
15/9/2009
15/9/2009
15/9/2009
15/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
16/9/2009

Cyrus Bhote
Anish Mukherjee
Anish Mukherjee
Anish Mukherjee
Khushroo Wadia
Khushroo Wadia
Khushroo Wadia
Khushroo Wadia
Khushroo Wadia
Khushroo Wadia
Khushroo Wadia
Khushroo Wadia
Matthew Aldridge
Dilip Samant
Dilip Samant
Dilip Samant
Dilip Samant
Dilip Samant
Dilip Samant
Dilip Samant
Dilip Samant
Dilip Samant
Jorge Olivera
Ines Odriozola
Claudia Pohly
Odair Lima
Alvaro Delgado
Irene
Jorge Salinasg
Teresa Valeta
Teresa Valeta
Teresa Valeta
Ines Odriozola
Teresa Valeta
Teresa Valeta
Narasimha Shenoy
Narasimha Shenoy
Narasimha Shenoy
Narasimha Shenoy
Narasimha Shenoy
Narasimha Shenoy
Narasimha Shenoy
Narasimha Shenoy
Narasimha Shenoy
Debashish dasgupta
Debashish dasgupta
Hassan Allouch

USA
Canada
Canada
Canada
Europe
Europe
Europe
Europe
Europe
Europe
Europe
Europe
UK
Australia
Australia
Australia
Australia
Africa
APAC
Australia
APAC
APAC
LATAM
LATAM
LATAM
LATAM
LATAM
LATAM
LATAM
LATAM
LATAM
LATAM
LATAM
LATAM
LATAM
APAC
APAC
APAC
APAC
APAC
APAC
APAC
APAC
APAC
Africa
Africa
Africa

48
49
50
51
52
53
54
55
56
57

CMC Ltd (51.12%)

CMC Americas Inc
TCS e-Serve Ltd -96.26%
TCS e-Serve Intl Ltd
TCS e-Serve America, Inc
EWT (eServe)
C- Edge Technologies Ltd (51%)
AP Online
MP Online
WTI

TCS Internal

18/9/2009
18/9/2009
14/9/2009
14/9/2009
14/9/2009
14/9/2009
9/9/2009
15/9/2009
16/9/2009
15/9/2009

India
USA
India
India
USA
India
India
India
India
India

S sekhar
S sekhar
Bhubaneswari Narayan
Bhubaneswari Narayan
Bhubaneswari Narayan
Bhubaneswari Narayan
Rohington peer
Vijay Bhaskar
Sunil Sinha
Sankar

email of SPOC
(Subsidiary)

SPOC (Corporate)

email of SPOC
(Corporate)

Contact

cyrus.bhote@tcs.com
Prakash Soni
prakash.soni@tcs.com
022-67789616
anish.mukherjee@tcs.com
prakash.soni@tcs.com
Prakash Soni
022-67789616
anish.mukherjee@tcs.com
prakash.soni@tcs.com
Prakash Soni
022-67789616
anish.mukherjee@tcs.com
Prakash Soni
prakash.soni@tcs.com
022-67789616
khushroo.wadia@tcs.com
Manan Vakharia
manan.vakharia@tcs.com 022-67789592
khushroo.wadia@tcs.com
manan.vakharia@tcs.com 022-67789592
Manan Vakharia
khushroo.wadia@tcs.com
Manan Vakharia
manan.vakharia@tcs.com 022-67789592
khushroo.wadia@tcs.com
Manan Vakharia
manan.vakharia@tcs.com 022-67789592
khushroo.wadia@tcs.com
Manan Vakharia
manan.vakharia@tcs.com 022-67789592
khushroo.wadia@tcs.com
manan.vakharia@tcs.com 022-67789592
Manan Vakharia
khushroo.wadia@tcs.com
Manan Vakharia
manan.vakharia@tcs.com 022-67789592
khushroo.wadia@tcs.com
Manan Vakharia
manan.vakharia@tcs.com 022-67789592
Matthew.Aldridge@diligenta.co.uk
aafreen.shaikh@tcs.com
Aafreen Shaikh
022-67789512
dilip.samant@tcs.com
Maulik Doshi
maulik.doshi@tcs.com
022-67789591
dilip.samant@tcs.com
Maulik Doshi
maulik.doshi@tcs.com
022-67789591
dilip.samant@tcs.com
Maulik Doshi
maulik.doshi@tcs.com
022-67789591
dilip.samant@tcs.com
maulik.doshi@tcs.com
Maulik Doshi
022-67789591
dilip.samant@tcs.com
Maulik Doshi
maulik.doshi@tcs.com
022-67789591
dilip.samant@tcs.com
Maulik Doshi
maulik.doshi@tcs.com
022-67789591
dilip.samant@tcs.com
Maulik Doshi
maulik.doshi@tcs.com
022-67789591
dilip.samant@tcs.com
maulik.doshi@tcs.com
Maulik Doshi
022-67789591
dilip.samant@tcs.com
Maulik Doshi
maulik.doshi@tcs.com
022-67789591
jorge.olivera@tcs.com
Sharon Fernandes / Gi sharon.fernandes@tcs.com /022-67789631/022-67789644
gilroy.fernandes@tcs.com
ines.odriozola@tcs.com
gilroy.fernandes@tcs.com
Sharon Fernandes / Gi sharon.fernandes@tcs.com /022-67789631/022-67789644
claudia.pohly@tcs.com
Sharon Fernandes / Gi sharon.fernandes@tcs.com /022-67789631/022-67789644
gilroy.fernandes@tcs.com
odair.lima@tcs.com
Sharon Fernandes / Gi sharon.fernandes@tcs.com /022-67789631/022-67789644
gilroy.fernandes@tcs.com
alvaro.delgado@tcs.com
Sharon Fernandes / Gi sharon.fernandes@tcs.com /022-67789631/022-67789644
gilroy.fernandes@tcs.com
irene.sa@tcs.com
gilroy.fernandes@tcs.com
Sharon Fernandes / Gi sharon.fernandes@tcs.com /022-67789631/022-67789644
jorge.salinasg@tcs.com
Sharon Fernandes / Gi sharon.fernandes@tcs.com /022-67789631/022-67789644
gilroy.fernandes@tcs.com
teresa.valeta@tcs.com
Sharon Fernandes / Gi sharon.fernandes@tcs.com /022-67789631/022-67789644
gilroy.fernandes@tcs.com
teresa.valeta@tcs.com
gilroy.fernandes@tcs.com
Sharon Fernandes / Gi sharon.fernandes@tcs.com /022-67789631/022-67789644
teresa.valeta@tcs.com
gilroy.fernandes@tcs.com
Sharon Fernandes / Gi sharon.fernandes@tcs.com /022-67789631/022-67789644
ines.odriozola@tcs.com
Sharon Fernandes / Gi sharon.fernandes@tcs.com /022-67789631/022-67789644
gilroy.fernandes@tcs.com
teresa.valeta@tcs.com
Sharon Fernandes / Gi sharon.fernandes@tcs.com /022-67789631/022-67789644
gilroy.fernandes@tcs.com
teresa.valeta@tcs.com
gilroy.fernandes@tcs.com
Sharon Fernandes / Gi sharon.fernandes@tcs.com /022-67789631/022-67789644
narasimha.shenoy@tcs.com Shikha Nagori
shikha.nagori@tcs.com
022-67789516
narasimha.shenoy@tcs.com Shikha Nagori
shikha.nagori@tcs.com
022-67789516
narasimha.shenoy@tcs.com Shikha Nagori
shikha.nagori@tcs.com
022-67789516
narasimha.shenoy@tcs.com Shikha Nagori
shikha.nagori@tcs.com
022-67789516
narasimha.shenoy@tcs.com Shikha Nagori
shikha.nagori@tcs.com
022-67789516
narasimha.shenoy@tcs.com Shikha Nagori
shikha.nagori@tcs.com
022-67789516
narasimha.shenoy@tcs.com Shikha Nagori
shikha.nagori@tcs.com
022-67789516
narasimha.shenoy@tcs.com Shikha Nagori
shikha.nagori@tcs.com
022-67789516
narasimha.shenoy@tcs.com Shikha Nagori
shikha.nagori@tcs.com
022-67789516
debasish.dasgupta@tcs.com Aafreen Shaikh
aafreen.shaikh@tcs.com
022-67789512
debasish.dasgupta@tcs.com Aafreen Shaikh
aafreen.shaikh@tcs.com
022-67789512
hassan.allouch@mazars.ma Manan Vakharia
manan.vakharia@tcs.com 022-67789592
TCS Internal

s.sekhar@cmcltd.com
Priya Bhargave
s.sekhar@cmcltd.com
Priya Bhargave
bhuvaneshwari.n@tcs.com
Vikram Porwal
bhuvaneshwari.n@tcs.com
Vikram Porwal
bhuvaneshwari.n@tcs.com
Vikram Porwal
bhuvaneshwari.n@tcs.com
Vikram Porwal
rohinton.peer@tcs.com
Shikha Nagori
a_vijayabhaskar@rediffmail.com
Shikha Nagori
sunil_sinhaji@yahoo.com
Shikha Nagori
sankar@wtiatl.com
Shikha Nagori

TCS Internal

priya.bhargave@tcs.com
priya.bhargave@tcs.com
vikram.porwal@tcs.com
vikram.porwal@tcs.com
vikram.porwal@tcs.com
vikram.porwal@tcs.com
shikha.nagori@tcs.com
shikha.nagori@tcs.com
shikha.nagori@tcs.com
shikha.nagori@tcs.com

022-67789603
022-67789603
022-67789529
022-67789529
022-67789529
022-67789529
022-67789516
022-67789516
022-67789516
022-67789516

Questionnaire Status
Received
Reviewed
Yes
NA
NA
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
NA
Yes
NA
Yes
NA
NA
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
NA
Yes
Yes
Yes
TCS Internal

Yes
Yes
Yes
Yes
NA
NA
Yes
Yes
Yes
Yes

TCS Internal

Yes
Yes
Yes

Meeting Details

SL Date & Time

nO

Participants

Discussion Points

1 27-Aug-09 (4 PM to 5 PM)

2 14-Sep-09( 11AM to 11:20 AM Mumbai IFRS Team (Sisir +

Other members)
Chennai Mrs Hema , Pavan

1)IFRS Team provided the below Update

Following a thorough study of the 45 IFRS Related Standards for 1.5

Months , the Preparation of INDIAN GAAP Questionnaire has been
completed . All the Artefacts were placed in a Common Folder
accessible only to the IFRS Team as there were confidential details
on accounting
Calls are being scheduled with the various contacts in the
Subsidaries to provide a Walkthrough of the Questionnaire prepared
It was highlighted that close to 10-12 Sub-subsidaries exist for each
subsidaries and the completed Questionnaires was expected to be
completed by 25-Sep-09
Sep'09 Activities would focus on completion/ review of the Memo
preparation exercise
2)Mrs Hema provided the following suggestions
A PMO Structure could be setup which would handle all coordination
with the subsidaries
Initial Calls with subsidaries could be handled by the entire IFRS
Team , while subsequent calls can be handled in parallel . Each IFRS
team member can be SPOC for each geography and can interact
with the Subsidart contact in that particular Geography
IFRS Team can publish the Call schedule with all the subsidaries to
clearly articulate the expectations for completing the questioonaire
IFRS Team can upload artefacts in IFRS site and provide selective
access of the Questionnaires to all Subsidaries

TCS Internal

Next
Steps

Action Items

Queries/ Risks raised by the Subsidaries can be monitored in an

aggregated manner as lot of overlap among subsidaries is expected
3 15-Sep-09( 2 PM to 4 PM )

Meeting with Mrs Hema

and IFRS Team at
Nirmal Building ,
Mumbai

4 15-Sep-09( 6.30 PM to 8.00

PM)

Meeting with LATAM 1

5 17-Sep-09( 4.15 PM to 4.45

PM)
Meeting with Morocco
6 17-Sep-09( 6.40 PM to 7.30
PM)
Meeting with LATAM 2
7 18-Sep-09( 11.00 AM to 1.00
PM)
Meeting with CMC

TCS Internal

Discussed on
Governance/PMO structure - Team members: Sanyal -> Hema G ->
Marwah & Pradeep -> Sisir,Vikram,Juthika,Hemalatha, Pavan, Anand
and Aparajita
Touch points - Finance dept, Deloitte, subsidiaries's SPOC (CFO
and other SMEs), Ultimatix team, Hyperian
Schedules - Overall time plan
Project charter
Role play
status reporting
Weekly calls
Documentation of sub call
stakeholder list
Challenges
Block diagram
XBRL reporting
Common shared folder (related info)

8 22-Sep-09(6.45 PM to
Meeting with LATAM 3
8.00Pm)
9 23-Sep-09 (12 noon to 12.45
pm)
Meeting with PMO
( Hema G and team)
10 23-Sep-09 ( 2.30 pm to 3.15
pm)
Meeting with BPO
11 23-Sep-09 ( 4.00 pm to 6.30
pm)
Meeting with Corporate
SPOC

Discussed the weekly updation of the Dashboard, project start up

meeting required , processes for work done- example - checklists for
subsidiary questionnaire review etc, mapping of team status - actual
activity against plan.
BPO team needed guidance on general IFRS implementation since
they need to guide their clients. General , high level methodolgy,
challenges etc were discussed, Mr Nishit Marwah and Sisir Sahu
taking the lead.
IFRS requirements from subsidiaries so that the Corporate SPOC
can review / answer the subsidiary questionnaires independently.

12 23-Sep-09 ( 6.30 pm to 8.00 Meeting with LATAM 4

pm)
( Uruguay / Spain/
Portugal)
13 1-Oct -09 ( 4.20 pm to 4.45
pm)

Meeting with PMO

( Hema G and team)

14 26-Oct-09 (12pm to 1pm)

IFRS implementation
team with Subsidiary
SPOCS
15 26-Oct-09 (3.30 pm to 8 pm) Audit Review of Memo
and Option Elections 1
Audit Review of Memo
16 28-Oct-09 (3.00 pm to 6.00
and Option Elections 2
pm)

TCS Internal

PMO was updated about the progress of the project as under:

1. Memo preparation has been completed
2. Option Election work will be completed by the IFRS team by 7 Oct
09 and the review and decision by management is expected to be
completed by 14 Oct 09.
3.Ultimatix team has already been generally informed about the
system change requirements, however a meeting to discuss the
requirements in detail is required , date of which will be decided after
8 oct 09 since the ultimatix team is currently engaged in Q2 closing
and hence not available.
4. Date of project start up meeting involving all stake holders will be
decided after 5 Oct 09.
5. Each task is reviewed by the auditors.
Status review of questionnaires from each subsidairy. Most
questionnaires have already been submitted. SPOCs were informed
that they need to review the questionnaires, ask and obtain more
information ( if needed ) and identify areas of impact by 30.10.2009.
Differences of I GAAP with US GAAP would be indicative of impact
areas under IFRS.
Decided to hold daily meeting with SPOCs .

17 3-Nov-09 ( 5.30 pm to 8.30

pm)

Memo Preparation and

Option Election - PPE

18 4-Nov-09 (2.30 pm -3.30 pm) CMC Questionnaire

Review
4-Nov-09 (4.00 pm -5.00 pm) Diligenta Questionnaire
19
Review
13- Nov -09 ( 4.00 pm - 7.00 Steering Authority
20 pm )
Review Meeting
20- Nov -09 ( 11.00 am Steering Authority
21 3.00 pm )
Review Meeting
25- Nov -09 ( 11.00 am - 1
Subsidiary
22 pm)
Implementation review
03-Dec -09 ( 2.30 pm - 5.30
23 pm)
Audit Review
14-Dec-09 ( 3.30 pm - 6.30
24 pm)

Standalone IFRS TB
mapping

Calls with individual

subsidiaries ( APAC /
During the week 14- Dec-09 Netherlands )for status
25 to 18- Dec-09
of IFRS opening B/ S
Review of preparation of
consol packs of
subsidiaries
Initial training to
Ultimatix Finance
System start up meeting
with Ultimatix
4/3/2010 Ultimatix Meeting

During the week 21-Dec-09

26 to 24-Dec-09
27 21-01-10
28 18-02-10
29

TCS Internal

Review Meeting with IFRS Steering Authority as regards Income

statement impact due to IFRS and resulting changes due to
componentization, changes in useful lives and depreciation method.

Status review of implementation

Status review of implementation
Subsidiary Impact area identified by corporate SPOC
Audit Team appraised of entire implementation process and their inputs
recorded for action.

Data Due

Date Resolved

TCS Internal

TCS Internal

TCS Internal

TCS Internal

Request / Action Items / Issues / Concerns tracking

R - Request
I - Issue
A - Action Item
C - Concern
Id. Description

TCS Internal

Type Resp

Date
Raised

Follow-up action

Data Due

Date
Resolved

TCS Internal

Risk Register

S.
No

Threat / Risk

Dependencies between activities need to be included in

the Plan
Individual / Team Names owning responsibility of the activity
needs to be included in the plan

2
3
4

6
7
8
9

Awareness among Subsidaries on IFRS Convergence

can delay theImplementation
Discussions held Internally (CAG , Subsidaries) and
with Externally ( Deloite ) must be documented and
Minutes must be published
Availability of a Central Repository of IFRS Related
Documents , Checklists accessible across Subsidaries
( preferably in KNOWMAX)
Status Reporting to Management must be done on a
Weely basis
Availability of a IFRS Implemetation Handbook/Manual
with ETVX definitions
Changes to Ultimatix , Hyperion must be communicated
in advance
Change in IFRS guideline

TCS Internal

Impacted
Elements

Identified/ Recovery
Realization Date
Date

Page 477

Time to
Recover
(In Days)

Owner

Remarks

Enable TCS and all its Indian Subsidiaries to adopt IFRS and overseas s
2010 with 2010-11 as the first year of IFRS financials. The overseas subs
to TCS for consolidation. ( They continue to maintain their accounts in u
Enable TCS and all its Subsidiaries to
Adopt/Compliant 01-Apr-2009 as the IFRS T
Build Opening Balance Sheet of 01-Apr-09
Create First IFRS Quarterly Reporting Q1 F
Create First IFRS Year-End 2010/11 Annual

TCS and Subsidiaries across all geographies will be included as a part o

Following convergence to IFRS , TCS and all its Subsidaries will prepare
GAAP and IFRS , until the complete cut-over to IFRS is decided

TCS Internal

AS
Legend

TCS
Financial
Transaction

Legend

New Process

Ultimatix
(Oracle DB)

Scrubbed
TCS Fin.
Transactions

HIPERION

Scrubbed as per IFRS Specifications

TCS Balance
Sheet

TCS Internal

TCS Balance
Sheet

Rol
Stakeholders
Leadership Team

Responsibilities
Establish Governance
Track and Monitor Program progress Globally
Risk Mitigation and Avoidance
Status Reporting to Senior Management , Sponsor
Overseeing adherence to timelines, managing expectations of the corpora
IFRS Steering Authority -Finance
Providing guidance to the IFRS implementation team
Providing inputs to corporate leadership for elections under IFRS.
Coordinate with External team (Deloitte) and other internal teams (Ultima
IFRS Implementation Team
Draft Accounting policies , Memo , Subsidiary Package , Questionnaires C
Responsible for the end to end execution of all tasks of the entire project i
Creation of Opening Balance , Quarterly Reports at TCS Level for Comp
Verification of IFRS Reports ( Annual , Quarterly) from Ultimatix , Hiperion
Financial Verification between Indian GAAP and IFRS (Manually and From
Review Compliance across Geographies
Upgradation of knowledge through various sites and journals
Implement Change Management Procedures
Executing IFRS related tasks under direction of the IFRS Project Team
IFRS executors
Subsidiary Questionnaire Completion
Subsidaries - SPOC
Application of Mandatory and Option Exemptions
Creation of Opening Balance , Quarterly Reports at Geography Level for
Support IFRS Implementation team for Compliance
Drive Program Implementation at Geography Level
Track Progress at Activity Level
PMO
Collate Statistics and Publish Reports
Organize Calls
System Support ,
Process Mentoring Translate Financial Accounting/Reporting Changes arising out of IFRS Co
Recommend Process Improvements
Support Knowledge Management , PMO Functions
Gather Requirements on IFRS specifc reporting and Make System Chang
Ultimatix/Hyperion Team
Conduct Regression Testing on Indian GAAP reporting
Deloitte
Collaboration Teams
Advisory role and provide inputs on Support drafting/modeling of accoun
Conduct de-briefing sessions , On-Job training , Interpretation of Standa
Auditors
Periodic Audit of Processes and Subsidiaries
Pubish Audit Report to Management
Deloitte Auditor Partners (External Team from Deloitte not involved in
External Review of Processes
External Review of Created Deliverables , Artefacts

Phase Details ( Sc
Stakeholders

TCS Internal

Description
Phase 1
Study of IFRS
Entry Criteria
Tasks

Verification and Validation Criteria

Exit Criteria

Owner
IFRS
Implementation
Team

Triggered by ledgislation
requirement in India
Study relevant literature
Conduct research
Study "as is " situation
Prepare I GAAP questionnaire
along with IFRS questionnaire
aimed to obtain relevant
information from subsidiaries
Identify areas of impact
Presentation to IFRS Steering
Authority
IGAAP questionnaire populated
Areas of impact identified
Review process completed

Deliverable

IGAAP questionnaire populated

Areas of impact identified

Assumptions

Knowledge assimilation as per plan NA

NA
NA
NA

Phase 2

Entry Criteria

Populate the Indian GAAP IFRS

questionnaire

Tasks

Sufficient knowledge of IFRS and I

GAAP and TCS accounting
Receive questionnaire from
Deloitte
Populate the IGAAP questionnaire

Verification and Validation Criteria

Review by IFRS Steering Authority

Review by Deloitte

Exit Criteria

TCS Internal

I GAAP questionnaire populated

IFRS
Implementation
Team

Exit Criteria

Deliverable

Populated I GAAP questionnaire

Assumptions

Phase 3

NA
NA
NA
NA
Identifying Areas of Impact
IFRS
Implementation
Team

Entry Criteria
Tasks

Verification and Validation Criteria

Advanced knowledge of IFRS, I

GAAP and TCS accounting
Identify and document specific
areas of impact

Review by IFRS Steering Authority

Review by Deloitte

Exit Criteria

Comprenhensive list of specific

areas prepared

Deliverable

List of identified areas of impact

Assumptions

High level assimilation of

knowledge .

NA
NA
NA
NA

Phase 4

Subsidiary questionnaire package

for IFRS implementation

Entry Criteria

Major areas of impact identified

TCS Internal

IFRS
Implementation
Team

Tasks

Prepare subsidiary questionnaire

package based on guidelines from
Deloitte ( in form of questionnaire
received), areas of impact
identified and general knowledge of
IFRS.
Mentors appointed within IFRS
Implemenattion team for dedicated
effort for subsidiary level IFRS
implemenation.
Take calls from subsidiaries for
clarification
Obtain the final filled in
questionnaire from the subsidiaries

Verification and Validation Criteria

Review by IFRS Steering Authority

Review by Deloitte

Exit Criteria

Final Subsidiary questionnaire

received and all queries attended

Deliverable

Subsidiary questionnaire received

Assumptions

High level of assimilation of

knowledge at subsidiary level
Adherence to timelines at
subsidiary level.

NA
NA
NA
NA

Phase 5

Trial Balance Completeness

Entry Criteria

Subsidiaries submit their fileld in

questionnaire and send their
completed Trial Balance

Tasks

Trial Balance is checked for

completeness to ensure all
expenses/ income / assets /
liabilities as per IFRS are captured.
Natural account codes should be
are studied

TCS Internal

IFRS
Implementation
Team

In case the subsidiary was not on

Ultimatix as on March 2009,
instead of account codes the
description should accompany the
trial balance.
Review of the trial balance as on
1.4.2009 by the IFRS
implemenattion team with respect
to mapping of accounts to
respective financial statements.
Verification and Validation Criteria

Review by IFRS Steering Authority

Review by Deloitte

Exit Criteria

Trial balance checked for

completeness

Deliverable

Trial Balance

Assumptions

High level of assimilation of

knowledge at subsidiary level
Adherence to timelines

NA

Phase 6

Memo Preparation

IFRS
Implementation
Team

Entry Criteria
Tasks

Major impact areas identified

Memos prepared on specific areas
of accounting
Justification and recommendation
of election of options given to first
time adopters of IFRS
Options elected/ Memos approved

Verification and Validation Criteria

Document basis of conclusion for

draft accounting policies
Review by IFRS Steering Authority

Exit Criteria

Review by Deloitte
Election of options by leadership
team
Memos approved

TCS Internal

NA
NA
NA

Exit Criteria

Deliverable

Documented memos on specific

areas of accounting

Assumptions

High level of assimilation of

knowledge
Adherence to timelines

NA

To
TCS Senior Management ,
Executive Sponsor
Leadership Team

Period

From
Leadership Team
IFRS Implementation Team
Subsidaries - SPOC
PMO
Ultimatix/Hyperion Team
External Teams

IFRS Implementation Team

Leadership Team
IFRS Implementation Team
IFRS Implementation Team

NA
NA
NA

Fortnightly
Weekly
Weekly
Weekly
Weekly
Weekly

Kn

Upload of the IFRS Artefacts in the KNOWMAX Link for IFRS under Cor
https://knowmax.ultimatix.net/sites/corpfinance-corpfn/IFRS

Accelerate Collaboration between stakeholders

General Assets : FULL Access to ALL

Discussion Forums where Subsidiaries can raise a Queries on Questionnaire Completion , Exemptions , Discl
Broadcasts / Announcements on Calls , Milestone , Program Changes , Schedule etc with automatic e-mail trig
Status Reports , Progress reporting , Weekly Dashboards

TCS Internal

Project Charter

S and overseas subsidiaries to be IFRS Compliant from 1st April

e overseas subsidiaries should adopt IFRS for financial reporting
eir accounts in under the respective local statutes).

009 as the IFRS Transition Date

eet of 01-Apr-09 in-line with IFRS Standards
y Reporting Q1 FY11 and Q1 FY10-Q4 FY10 Comparatives.
d 2010/11 Annual Report and 2009/10 Comparatives
Scope

luded as a part of the convergence to IFRS

Assumptions

aries will prepare the Audited Balance Sheets in compliance with

decided
Governance Model

TCS Internal

AS IS / TO BE Scenario

w Process
Subsidiary
Financial
Transaction

Scrubbed
Subsidiary Fin.
Transaction
Scrubbed as per IFRS Specifications

xBRL Format

TCS Balance
Sheet

TCS Internal

TCS Balance
Sheet
As Per IFRS Specifications

Roles and Responsibilities

onsor
g expectations of the corporate leadership from the IFRS projec
on team
ections under IFRS.
other internal teams (Ultimatix, Hyperion, Subsidiaries)
Package , Questionnaires Creation
ll tasks of the entire project ie from phase 1 - Study of IFRS to the last phase - preparation of income statement for quarterly accounts
ports at TCS Level for Comparison
erly) from Ultimatix , Hiperion
nd IFRS (Manually and From System )

es and journals

of the IFRS Project Team

ons
ports at Geography Level for Comparison
liance
Level

anges arising out of IFRS Compliance to System Requirements (Ultimatix / Hiperion)

ctions
ng and Make System Changes
reporting

drafting/modeling of accounting policies

ng , Interpretation of Standards , Best Practices of replicating activities in subsidiaries

om Deloitte not involved in the Implementation)

efacts

Phase Details ( Schedule , ETVX , Owners, Touchpoints)

Stakeholders

TCS Internal

Planned

Actual

Touchpoints Work Item

Deloitte / IFRS Acquire domain
Steering
knowledge
Authority

Start Date
June 2009

End Date Start Date

Mid Aug June 2009
2009

End Date
Mid Aug
2009

NA

NA

NA

NA

NA

NA

NA

NA

NA
NA

NA
NA

NA
NA

NA
NA

NA

NA

NA

NA

NA
NA
NA
NA
NA
NA

NA
NA
NA
NA
NA
NA

NA
NA
NA
NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

June
2009

June 2009

June
2009

NA

NA

NA

NA

NA

NA

NA

NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

NA

NA

NA
NA
NA
NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

Deloitte / IFRS Areas of accounting June 2009

Steering
to be affected
Authority
identified and
questionnaire
designed as per
requirement

TCS Internal

NA
NA
NA
NA

NA
NA
NA
NA

NA
NA
NA
NA
NA
NA
NA
NA
NA

Deloitte / IFRS Identifying areas of

Steering
impact due to
Authority
changes in
accounting/
reporting norms

NA
NA
NA
NA
NA
NA
NA
NA
NA

Jul-09 early Aug

2009

NA
NA
NA
NA
NA
NA
NA
NA
NA
Jul-09 early Aug
2009

NA

NA

NA

NA

NA

NA

NA

NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA
NA
NA
NA

NA
NA
NA
NA
NA
NA

NA
NA
NA
NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

NA

NA

NA
NA
NA
NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

Deloitte / IFRS Preparation of

Steering
subsidiary
Authority
questionnaire
package

Jul-09 'Sept 09

NA

TCS Internal

NA
NA
NA
NA
NA
NA
NA
NA
NA

NA

Jul-09 'Sept 09

NA

NA

NA

NA

NA

NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA

NA
NA

NA
NA

NA
NA

NA
NA
NA
NA

NA
NA
NA
NA

NA
NA
NA
NA

NA

NA

NA
NA
NA
NA

NA

NA

NA

NA

NA

NA

NA
NA

NA
NA

NA
NA

NA
NA

NA
NA

NA
NA

Aug 09

Early
'Sept 09

Aug 09

Early
'Sept 09

NA

NA

NA

NA

Deloitte / IFRS Check the trial

Steering
balance
Authority

TCS Internal

NA

NA

NA

NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA
NA
NA
NA

NA
NA
NA
NA
NA
NA

NA
NA
NA
NA
NA
NA

NA

NA

NA
NA
NA
NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

Aug 09

'Sept 09

Aug 09

'Sept 09

NA

NA

NA

NA

NA

NA

NA

NA

NA
NA

NA
NA

NA
NA

NA
NA

NA

NA

NA

NA

Deloitte / IFRS Memos prepared

Steering
Authority

TCS Internal

NA
NA

NA
NA

NA
NA

NA
NA

NA
NA
NA
NA

NA
NA
NA
NA

NA
NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

NA

NA

NA
NA
NA
NA

NA
NA
NA

NA
NA
NA

NA
NA
NA

Status Reporting

Knowledge Management

IFRS under Corporate Finance

letion , Exemptions , Disclosures , Cash Flows etc

c with automatic e-mail triggering to all stakeholders

TCS Internal

TCS Internal

TCS Internal

atement for quarterly accounts

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

TCS Internal

Roles
S. No

Role Name
Finance

Description of Role

1 IFRS Steering Authority

-Finance

Responsible for overseeing adherence to timelines,

managing expectations of the corporate leadership from
the IFRS project, providing guidance to the IFRS
implementation team, providing inputs to corporate
leadership for elections under IFRS.

2 IFRS Implementation Team

Responsible for the end to end execution of all tasks of

the entire project ie from phase 1 - Study of IFRS to the
last phase - preparation of income statement for
quarterly accounts
Responsible for executing IFRS related tasks under
direction of the IFRS Project Team

3 IFRS executors

TCS Internal

Project

Personnel

Nishit Marwah, Pradeep Gaitonde

Sisir Sahu, Juthika Chakraborty, R

Hemalatha, Vikram Porwal

Entire accounting personnel of TCS

and subsidiaries

TCS Internal

TCS Internal