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IndAS FAQs

Published on Fri, Feb 20,2015 | 16:28, Updated at Thu, Mar 26 at 08:13Source : Moneycontrol.com 

The Ministry of Corporate Affairs has just notified 39 Indian Accounting Standards (Ind AS) that will converge India to IFRS accounting. An earlier MCA circular made it mandatory for all companies (and their holding, subsidiary, joint venture and associate companies) with a networth of Rs 500 cr or more to apply IndAS starting FY17. Companies with a networth of Rs 250-500 cr and companies with listed debt or equity companies (and their holding, subsidiary, joint venture and associate companies) must apply IndAS starting FY18.  

To help companies tide over the many transition issues from Indian GAAP to Ind AS…the EY team has prepared a list of frequently asked questions and their answers. You can access the FAQs here…

Attachments : Ind AS FAQs Feb 2015_update.docx
 
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