LearningCat: Introduction to Ind AS

Objectives and Importance of Ind AS
The objectives of Ind AS include the improvement of transparency, comparability, and reliability in financial reporting. In fact, the standards are, in their literal sense, crafted so that Indian accounting practices move in the direction of conformity with international practices, and hence the financial statements can be said to be informative to the stakeholders for […]
Introduction to Ind AS
They are a set of accounting standards harmonized with the International Financial Reporting Standards (IFRS) by the Ministry of Corporate Affairs (MCA), known as the Indian Accounting Standards (Ind AS). The aim of the standards is to make the financial statements transparent, comparable, and reliable, thus aligning Indian corporate financial reporting with global standards. Need […]