Tech Insights

Ind AS

Last updated May 16, 2025, generated by Sumble

What is Ind AS?

Ind AS, or Indian Accounting Standards, are a set of accounting standards notified by the Ministry of Corporate Affairs (MCA) in India. They are converged with International Financial Reporting Standards (IFRS). Ind AS prescribes the principles for the recognition, measurement, presentation, and disclosure of financial statements, ensuring companies in India adhere to globally accepted accounting practices. This promotes transparency and comparability of financial information.

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What other technologies are related to Ind AS?

Ind AS Competitor Technologies

Indian GAAP

Indian GAAP (Generally Accepted Accounting Principles) is the previous accounting standard in India that Ind AS replaced. It is a competing set of accounting principles.

mentioned alongside Ind AS in 64% (180) of relevant job posts

IGAAP

IGAAP (Indian Generally Accepted Accounting Principles) is another name for the previous accounting standard in India which is replaced by Ind AS, therefore it is a competing set of accounting principles.

mentioned alongside Ind AS in 42% (71) of relevant job posts

US GAAP

US GAAP (United States Generally Accepted Accounting Principles) is an alternative set of accounting standards used primarily in the United States. It's a competitor to Ind AS.

mentioned alongside Ind AS in 4% (209) of relevant job posts

Ind AS Complementary Technologies

Companies Act

The Companies Act provides the legal framework within which companies operate in India. Ind AS compliance is mandated by the Companies Act for certain companies, making it complementary.

mentioned alongside Ind AS in 49% (83) of relevant job posts

Income Tax

Income Tax regulations often interact with accounting standards. While not directly related, tax considerations can influence how Ind AS is applied, making it complementary.

mentioned alongside Ind AS in 15% (71) of relevant job posts

GST

GST (Goods and Services Tax) is a tax system. While not directly related to accounting standards, it impacts financial reporting and interacts with Ind AS, making it complementary.

mentioned alongside Ind AS in 3% (143) of relevant job posts