Ind As: Opportunities, Challenges and Beneficiaries

Authors

  • Punit Kumar Kanujiya Assistant Professor Department of Commerce National PG college Lucknow, Uttar Pradesh, India
  • Hargun Sahni Research Scholar Department of Commerce and Business Administration University of Allahabad, Uttar Pradesh, India

Keywords:

Corporate, Globally, Appropriation, Global Market

Abstract

In the current time of globalization, in excess of 3600 worldwide organizations are building up their organizations in the various areas in India. These Indian business firms are introducing budget summaries according to IFRSs, Indian GAAPs, USGAAPs, Japan GAAP, and so forth, With a view to avoid this kind of inconvenience, the accounting bodies across the world are working towards a standard set of accounting policies, valuation norms and disclosure requirements.

As of late, on sixteenth February 2015, the Ministry of Corporate Affairs through Companies rules, 2015 set out the guide for use of Ind AS and even government has advised Ind AS for application from first April, 2015 either deliberately or by following the expression given. IND-AS is the convergence form of IFRS, it is one of the great revolutions in the field of Accounting. IFRS is a single set of accounting language which are global acceptable which offers comparability, reliability, accuracy etc., which helps global investors to invest globally and also, helps company to enter into global market.

How to cite this article:
Kanujiya PK, Sahni H. Ind AS: Opportunities, Challenges and Beneficiaries. J Adv Res Eco Busi Mgmt 2021; 4(1): 22-27

References

Published

2021-05-28

How to Cite

Punit Kumar Kanujiya, & Hargun Sahni. (2021). Ind As: Opportunities, Challenges and Beneficiaries. Journal of Advanced Research in Economics and Business Management, 4(1), 22-27. Retrieved from https://adrjournalshouse.com/index.php/Journal-Economics-BusinessMgt/article/view/1292