Applicability of Ind AS
Any company may comply with the Indian Accounting Standards (Ind AS) for financial statements for accounting periods beginning on or after 1st April, 2015, The following companies must comply with the Indian accounting Standards (Ind AS) for the accounting periods beginning on or after 1st April, 2016.
(a) companies whose equity or debt securities are listed or are in the process of being listed on any stock exchange in India or outside India and having net worth of rupees five hundred crore or more;
(b) companies other than those covered by sub-clause (a) above and having net worth of rupees five hundred crore or more;
(c) holding, subsidiary, joint venture or associate companies of companies covered by (a) and (b) as the case may be; and
The following companies shall comply with the Indian Accounting Standards (IndAS) for the accounting periods beginning on or after 1st April, 2017 .The origination of Ind AS has happened primarily due to International Financial Reporting Standards (IFRS). Our team has hands-on expertise in dealing with IFRS reporting from small to large scale companies in India and United States of America. Our team is now fully geared up for the implementation of Ind AS.
Please contact us for further information