1)foreign companies(subsidaries) in India prepare financial statements as per which standards indas/usgaap/ifrs?
example-tesla, Franklin templeton, wellsfargo etc.
2) all Indian companies must follow ind AS, any chance of exemption to follow ifrs?
3) us GAAP follows which companies?
4) ifrs follows which companies?
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Ind AS, us gaap, ifrs
Replies (1)
1. USGAAP/IFRS
2. If net worth is 500 crores rupees then INDAS is mandatory.
Both US GAAP and IFRS followed by foreign companies
2. If net worth is 500 crores rupees then INDAS is mandatory.
Both US GAAP and IFRS followed by foreign companies
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