Question

Is Ind AS and IFRS the same?

Answer 1

Ind AS is a modified version of the IFRS which is relevant in the context of Indian companies, while the IFRS is having global applicability, and is used in around 144 countries around the world.

Also read:

• Difference Between Cash Basis and Accrual Basis of Accounting
• Accrual Basis of Accounting
• GAAP Generally Accepted Accounting Principles
• Applicability of IND AS
• Difference Between IFRS and IND AS
• Difference Between GAAP and IFRS

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