Indian Accounting Standards
Indian Accounting Standards (Ind AS) are adopted in India in a phased manner from FY 2016-17 onwards for a certain class of Indian companies. The Ind AS has been harmonized with the IFRS, designed in a way to make reporting by Indian companies more globally acceptable and comparable.
The need for convergence arose on account of the increased global penetration of Indian Enterprises. Every enterprise that meets the applicability criteria has to mandatorily adopt the reporting standards in line with the phased implementation timeline.
The new Ind AS regulations are complex and adoption can be a very time consuming exercise for SMEs.
Our team is well experienced and has helped many clients in enabling them to adopt the best practices with respect to financial reporting under Ind AS. Our team follows a process oriented approach with emphasis on well-defined and documented procedures that ensures efficient change with minimum business disruption.
Services We Offer
Ind AS Impact Assessment
Highlight the key areas that will be impacted in your enterprise.
Ind AS Conversion
Planning and Implementation, compilation of financial statements under Ind AS.
Identifying/deciding new policies/procedures required to be implemented under Ind AS.
Building a ready reckoner of Accounting Principles for both IGAAP and Ind AS.
Tax Implications on account of Ind AS transition.
Team Training on key requirements, and concepts.
Advisory pertaining to complex Accounting Transactions.
Consulting on new developments and pronouncements.