Differences in IND AS and earlier Accounting Standards

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CA FINAL STUDENT
51 Points Posted on 16 March 2022
What is the Differences in IND AS and earlier Accounting Standards
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On 16 March 2022 at 12:02 Report
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IND AS, based on IFRS, applies to corporate entities like public and private limited companies, banks, and insurance firms, depending on their net worth. Earlier Accounting Standards (AS) are governed by the ICAI and are applicable to non-corporate, non-company entities, categorised into four levels based on turnover.

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GST Practitioner & Accounts
15144 Points Posted on 16 March 2022
IND AS based on IFRS are applicable to Corporate sector , Like LTD Companies , pvt Ltd Companies , Banking companies , Insurance companies etc , as per the networth .
IND AS governed by MCA

AS are applicable to Non corporate , Non companies entity , same has been divided into 4 level ( level 1 to leave 4 as per Turnover)
AS is govern by ICAI .
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On 16 March 2022 at 12:18
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CA FINAL STUDENT
51 Points Posted on 16 March 2022
Ok thanks
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On 16 March 2022 at 13:53

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