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Indian Accounting Standards




Here in this article, we sprinkle an Introduction to Indian Accounting Standards (IND AS) which can help you in understanding the IND AS and DipIFR, so that you can make a wise decision by choosing it as a career option. IND AS is a reality which sooner you accept, the better your life will be! Let us know how: Ind AS is a converged form of IFR, the Indian accounting standards applicable in India beginning from financial year 1 April 2016 with the country transitioning to Ind AS for the first time on 1 April 2015.Ind AS is based on IFRS, which is in great demand globally as International Accounting Standards Board (IASB) is committed to identifying this accounting standard as the global standard. The pace at which IFRS is getting adopted around the world has created a shortage for accounting professionals, who are aware of IFRS and will take time to fill the gap, the reason for a sudden and increasing demand for IFRS expertise globally. IFRS or Ind AS, the words can be used interchangeably in India, since there are very few differences between Ind AS and IFRS.This also means that professionals having knowledge of Ind AS, which is a global financial and accounting resource, capable of serving anywhere in the world. Since India has already converged to IFRS in the form of Ind AS with banking & insurance companies to follow the change sooner, the demand for Ind AS/IFRS professionals is very high as all the companies who need to comply require specialized manpower for successful implementation and maintaining the compliance to international accounting standards.

Learn complete Indian Accounting Standards  here..

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