Indian Accounting Standards & International Financial Reporting Standards (Ind AS) vs (IFRS)

B P Sharma

Abstract: - In order to have uniform accounting standards across the globe Indian companies are converging towards IFRS and adopted Ind AS. By the year 2020-21 all the companies will have these standards. Companies need to prepare balance sheet, P & L, cash flow and notes in accordance with Ind AS. A new grouping called Financial Assets and liabilities, A statement of changes in equity has been included. The Profit and Loss statement will show income and expenses for the year along with a statement of other comprehensive income.

Keywords: Financial Assets and liabilities, other comprehensive income, financial instrument, non controlling assets,

How to Cite?: B P Sharma, "Indian Accounting Standards & International Financial Reporting Standards (Ind AS) vs (IFRS)", Volume 7 Issue 3, March 2018, International Journal of Science and Research (IJSR), Pages: 1589-1590, https://www.ijsr.net/getabstract.php?paperid=ART2018796, DOI: https://dx.doi.org/10.21275/ART2018796