Accounting standards

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Querist : Anonymous

Querist : Anonymous (Querist)

29 August 2011 Hi,

Can someone please explain me about the differences between IndAS, IAS and IFRS?

mohamed ziaudeen

mohamed ziaudeen (Expert)
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04 September 2011 IAS are the older standards that IFRS replaced. (IAS were issued from 1973 to 2000.)

Indian AS are issued by ICAI through Accounting standard Board in India while IFRS are issued by International Accounting Standard Board

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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11 October 2011 Ind AS are the new accounting standards that r issued by ICAI after convergence with IFRS they are still not applicable in INdia

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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11 October 2011 IAS are the old international accounting standard preparered by IASB

IFRS are the new reporting standards that are slowly replacing the IAS

currently the IAS which are not replaced by IFRS are also applicable

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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11 October 2011 At present 29 IAS and 8 IFRS are only applicable and w.e.f. 1 Jan 2013 13 IFRS and 25 IAS will remain applicable