Which accounting standard is to be followed either AS as per ICAI or Ind AS or Both, Please suggest
Prashant Kumar (SR auditors) (33 Points)
28 May 2016Which accounting standard is to be followed either AS as per ICAI or Ind AS or Both, Please suggest
Shreesh Kumar
(CA Final)
(122 Points)
Replied 28 May 2016
Dear Prashant,
Application of IND AS and AS issued by ICAI is depends upon verious conditions. Conditions are related to net worth and Legal structure of entity. There are various dates also which are suggested by MCA for aplication of IND AS according to conditions.
It will better for me to attach the summary where you can find detailed descripttion of application of AS and IND AS with respect of their conditons and dates.
Regards
Shreesh Kumar
CAclubindia
