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IFRS 781 views 4 replies

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Whats the difference between IFRS/IAS and IND AS ?

Replies (4)

IAS is older version of IFRS issued by IASB.

Ind AS is issued by indian government which are conversant with IFRS...

So IAS and IFRS series will continue  or IFRS are going to be replaced?

 

In longer term only IFRS will remain in scope...

IASs are the international accounting standards issued until 2001. From 2001, any new accounting standards issued is referred to as IFRS.

 

IND-AS are indianised version of IFRS (though globally these are not accepted). Companies including Wipro, Airtel, Infosys prepare their financial statements under IFRS (for global listing), and under AS (Indian Accounting Standards) for SEBI listing requirements.


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