Top Firms offering Indian Accounting Standard Services in Mumbai

Indian Accounting Standard (abbreviated as Ind-AS) is the Accounting standard adopted by companies in India and issued under the supervision and control of the Accounting Standards Board (ASB), which was constituted as a body in the year 1977. ASB is a committee under the Institute of Chartered Accountants of India (ICAI) which consists of representatives from government departments, academicians, other professional bodies viz. ICAI, representatives from ASSOCHAM, CII, FICCI, etc.

Following are top firm in Mumbai offering Indian Accounting Standard Services in Mumbai –

1. Just Archon Advisors

Founded in 2011, the firm is a well-balanced and robust team of 75+ executives including Chartered Accountants, Chartered Financial Analysts, Company Secretaries, Advocates, and Semi Qualified Personnel. Their customized solutions and the capability of extending on-site support, always ensure that they offer best-in-class services to our clients at all times.

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.

Their 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. The team follows a process oriented approach with an emphasis on well-defined and documented procedures that ensures efficient change with minimum business disruption.

Services offered :

• Ind AS Impact Assessment – Highlight the key areas that will be impacted in your enterprise.
• Ind AS Conversion – Planning and Implementation, a compilation of financial statements under Ind AS.
• Policies – Identifying/deciding new policies/procedures required to be implemented under Ind AS.
• Accounting Manual – Building a ready reckoner of Accounting Principles for both IGAAP and Ind AS.
• Taxation – Tax Implications on account of Ind AS transition.
• Training to your staff – Team Training on key requirements, and concepts.
• Complex Transactions – Advisory pertaining to complex Accounting Transactions.
• New Developments – Consulting on new developments and pronouncements.

2. RSM Astute Consulting Private Limited

A world leading provider of audit, tax and consulting services to entrepreneurial growth focused organisations globally. RSM is a powerful network of audit, tax and consulting experts with offices all over the world. As an integrated team, they share skills, insight and resources, as well as a client-centric approach that is based on a deep understanding of your business. This is how they empower you to move forward with confidence and realise your full potential. This is the power of being understood.

Services Offered –

• Ind AS adoption
• Assistance in the analysis of the difference between Indian GAAP (generally accepted accounting principles)and Ind AS
• Assistance in implementation of identified changes for convergence to Ind AS
• Training your staff on key Ind AS concepts and requirements
• Assistance in a compilation of financial statements under Ind AS

3. AKGVG & Associates

AKGVG & Associates is one of the leading professional services firms involved in assurance, advisory, taxation, accounting/ related support and outsourcing services. With over 250 professionals in accounting, tax, transactions, auditing, outsourcing and advisory services, we are based in over 3 countries with 9 offices (Includes other member firms and channel partners of AKGVG).

Services Offered –

• Strategic assessment
• A proper audit plan
• Arrangement of training for the staff
• Providing the proficient staff with excellent Ind AS knowledge
• Good project management
• Ensuring a smooth Ind AS conversion.

With the objective is to remove variations in the treatment of several accounting aspects and to bring about standardization in the presentation,  Indian Accounting Standards (Ind AS) are issued by the Accounting Standard Board to converge Indian GAAP with International Financial Accounting Standards (IFRS). Ind AS notified under the Companies Act 2013 is governed by the provisions of the Indian Copyright Act, 1957 and the copyright in Ind AS vests in the Government of India.