Question

What is Ind AS and its applicability?

Answer 1

Ind AS stands for Indian accounting standards. It is the accounting standard that needs to be adopted by all those Indian companies, banks, NBFCs which have a net worth equal to or more than 500 crores.

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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