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IND AS Balance-Sheet
In the balance-sheet as on 31st March 2019, we show comparitive balance sheet of 31st March 2018 as well as on transition date 1st April 2017. For next year, will balances have to be shown for all 3 dates again- i.e. 31st Mar 20, 31st Mar 19 and 1st April 18. Please clarify, thanks.
Replies (1)
Hey Renuka!
The balance sheet on the transition date is to quantify the cumulative effect of retrospective application of Ind AS. So you don't have to prepare another balance sheet (including Statement of changes in equity) as on 01-04-2018.
Have a nice day!
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