The Indian Accounting Standards also known as Ind AS and are structured in line with the International Financial Reporting Standards (IFRS). The nomenclature for the naming and numbering of Ind AS is same as that of IFRS. Overall, the accounting changes introduced by Ind AS are positive for foreign firms operating in India. Implementation of…
Since Indian companies have a far wider global reach now as compared to earlier, the need to converge reporting standards with international standards was felt, which has led to the introduction of Ind AS (Indian Accounting Standard). These new standards ensure that Indian accounting standards (Ind AS) are in lines with globally accepted standards, IFRS. Therefore,…
