Ind AS
Also called: Indian Accounting Standards, Indian accounting standard
India's accounting standards for most listed and larger companies, converged with International Financial Reporting Standards.
Ind AS set out how companies recognise, measure, present and disclose items in their financial statements. They follow IFRS closely, with some differences decided in India, often called carve-outs.
Not every Indian company reports under Ind AS: many smaller companies use the older Indian accounting standards, and banks and insurers follow requirements set with their own regulators. A company's notes state which framework it uses.
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- Indian accounting standards (Ind AS)What are Ind AS, and why do accounting rules matter when comparing companies?
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