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Informative Article | Finance | India | Volume 7 Issue 3, March 2018 | Rating: 6.1 / 10
Indian Accounting Standards & International Financial Reporting Standards (Ind AS) vs (IFRS)
Abstract: - In order to have uniform accounting standards across the globe Indian companies are converging towards IFRS and adopted Ind AS. By the year 2020-21 all the companies will have these standards. Companies need to prepare balance sheet, P & L, cash flow and notes in accordance with Ind AS. A new grouping called Financial Assets and liabilities, A statement of changes in equity has been included. The Profit and Loss statement will show income and expenses for the year along with a statement of other comprehensive income.
Keywords: Financial Assets and liabilities, other comprehensive income, financial instrument, non controlling assets,
Edition: Volume 7 Issue 3, March 2018,
Pages: 1589 - 1590