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Question
Does India follow GAAP or IFRS?
Does India follow GAAP or IFRS?
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Solution
India follows an accounting standard that is based on IFRS, it is known as Ind AS and is in use since the accounting period of 2016-17. The latest revision happened in June 2021.
India follows an accounting standard that is based on IFRS, it is known as Ind AS and is in use since the accounting period of 2016-17. The latest revision happened in June 2021.
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