Transcription of In Audit, Indian GAAP, IFRS and INDAS a Comparison
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In Audit, Indian GAAP, IFRS and INDAS a Comparison
Indian gaap , ifrs and Ind AS A Comparison26 February 20152 Indian gaap , ifrs and Ind AS A Comparison | 3 The Roadmap for Implementation of Ind AS 4 Comparison of Indian gaap , ifrs and Ind AS 5 Comparison 6 ContentsUpdated for the Companies ( Indian Accounting Standards) Rules, 20154 The Roadmap for Implementation of Ind ASOn 16 February 2015, the Ministry of Corporate Affairs (MCA) notified the Companies ( Indian Accounting Standards) Rules, 2015 (the Rules ) (pending publication in the Gazette of India). The Rules specify the Indian Accounting Standards (Ind AS) applicable to certain class of companies and set out the dates of applicability. The key requirements of the Rules with regard to the class of companies that will be required to follow Ind AS and the date of adoption by such companies are as under:Voluntary adoptionCompanies may voluntarily adopt Ind AS for financial statements for accounting periods beginning on or after 1 April 2015, with the comparatives for the periods ending 31 March 2015 or thereafter.
after 1 April 2016 For the accounting periods beginning on or after 1 ... adopted by the International Accounting Standards Board. They comprise the International Financial Reporting Standards, International Accounting Standards, and Interpretations issued by the IFRS Interpretations Committee or the ... Reference to the underlying accounting ...
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