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Ind AS Implementation Guide

Ind AS Implementation Guide

Ind AS involve application of several new and complex concepts, which require a significant level of judgement and estimation, accompanied by detailed qualitative and quantitative disclosures. As Indian entities gain experience of implementing Ind AS, they should also support consistent application of the standards.

 

About the publication

Ind AS involve application of several new and complex concepts, which require a significant level of judgement and estimation, accompanied by detailed qualitative and quantitative disclosures. As Indian entities gain experience of implementing Ind AS, they should also support consistent application of the standards.The publication is designed to provide a brief overview of the Ind AS and highlights the key differences from the respective International Financial Reporting Standards (IFRS). It contains 10 chapters, which provide an essence of the principles within Ind AS pertaining to each topic. Some chapters may contain multiple topics/Ind AS application issues.

 

The publication is based on the Ind AS notified by the Ministry of Corporate Affairs (MCA), including Ind AS 115 and Ind AS 116. The publication also includes the guidance issued by Institute of Chartered Accountants of India (ICAI), till 10 February 2020, through Ind AS Technical Facilitation Group (ITFG) bulletins, Educational Materials (EMs) and Expert Advisory Opinions (EACs) on Ind AS.

 

We hope that you find this publication useful in enhancing your understanding relating to Ind AS and we welcome any suggestions or feedback that you may have.

 

You can also reach us for feedback and questions at: aaupdate@kpmg.com.

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