Difference between IND AS and AS
Pradeep Kumar T V (6 Points)
11 December 2023
May I know the difference between IND AS and AS?
Pradeep Kumar T V (6 Points)
11 December 2023
prasad Nilugal
( GST Practitioner & Accounts )
(14215 Points)
Replied 11 December 2023
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 .
MPR Sanjay Kumar
(3005 Points)
Replied 11 December 2023
Yasaswi Gomes new
(Finance )
(4487 Points)
Replied 11 December 2023
Dr. Bajaj finance
Cr. Cash account
In f5 voucher.
RAJA P M
("Do the Right Thing...!!!")
(127299 Points)
Replied 11 December 2023
mr shad
(20 Points)
Replied 12 December 2023
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.
CAclubindia
