Difference between IND AS and AS

1)IND AS are applicable to Corporate sector , likes Companies, Banking Companies , NBFC, Insurance Companies etc.

2) IND AS are prepared in line with IFRS by MCA .

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1)AS are applicable to Non Corporate sector like Sole proprietorship, partnership firm, AOP , Society, Trust, etc .

2)AS are prepared by ICAI .

3) Non corporate entities are divided in 4 part, Level I , Level II , Iii , IV , for applicability of AS .

Dr. Bajaj finance

Cr. Cash account

In f5 voucher. 

Indian Accounting Standards (Ind AS) are a set of accounting standards in India converged with International Financial Reporting Standards (IFRS), applicable primarily to listed companies and certain others. Accounting Standards (AS) were the earlier set of standards issued by the Institute of Chartered Accountants of India (ICAI) and applied to all companies in India, irrespective of international convergence.