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Enterslice provides Ind As implementation services in India. Implementation of Indian Accounting Standards is mandatory for Indian companies.nhttps://enterslice.com/implementation-of-ind-as

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Implementation Of Indian Accounting Standards


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implementation of indian accounting standards 1

Implementation Of Indian Accounting Standards

Enterslice.com

About Us

Enterslice is Award Winning Legal Technology Company that helps entrepreneurs start and manage their business in India. Whether you are starting a new business or already an established firm, Enterslice has out of the box tailor-made solutions for you. Enterslice Advisory is your partner to grow your venture to the next level. We help you define and execute key growth hacking strategies, deliver a great product/service launch experience, bring new products and services to the market, and secure VC funding. From strategy review of a Business and development to hands-on implementation, we help Entrepreneurs achieve long-term growth.

implementation of indian accounting standards 2

Implementation Of Indian Accounting Standards

What is Implementation of IND AS?

On 16th February, 2015 Ministry of Corporate Affairs (MCA) notified the Companies (Indian Accounting Standards) Rules, 2015 laying down the roadmap to apply converged standards .i.e. Ind AS to Indian Companies other than banking companies, insurance companies & Non-Banking Financial Companies (NBFC). Government has also notified Ind AS Standards (known as Indian Accounting Standards) to be applied by these companies.

  • Three phases for implementing IND AS
  • Voluntary Phase:
  • Mandatory Phase 1:
  • Mandatory Phase 2:
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Implementation Of Indian Accounting Standards

Enterslice.com

Key considerations for Ind AS Conversion

  • Failure to communicate the effects and the results to the stakeholders, board of directors, audit committee, investors and analysts
  • Maintaining accounts and various reports under multiple accounting framework during the transition period.
  • To maintain consistency is following various Ind AS principles including a potential to have to rethink accounting policy decisions taken by the subsidiaries who have already adopted Ind AS
  • Retention of Key Employees
  • Excessive cost incurred due to ineffective planning, project management
  • Unreasonable work level incurred due to inappropriate planning
  • Missed Deadlines on Conversion process
  • To mitigate this risk the board should pay close attention to the management’s approach for Ind AS conversion and satisfy themselves that it covers all appropriate areas on the basis of sound management plan
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Implementation Of Indian Accounting Standards

Enterslice.com

Why Enterslice?

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Services delivered by 100+ Qualified CA and CS

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Success Rate. Your Order Comes with Money Back Guarantee

Top 25 Consulting Firm in India - Consultants Review

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Implementation Of Indian Accounting Standards

Enterslice.com

Contact Us

India

Noida Branch

E 57 Sector 63 Noida U.P. 201301 Uttar Pradesh

Phone:-98106 88728

URL:-https://enterslice.com/implementation-of-ind-as