The document outlines Indian Accounting Standards (Ind AS) and their phased implementation timetable, with Phase 1 beginning April 1, 2015, for voluntary adoption and mandatory compliance following in 2016 and 2017 for certain companies. It highlights the benefits of adopting Ind AS, including improved transparency, reduced diversity in accounting practices, and a framework aligned with International Financial Reporting Standards (IFRS). The standards apply to various companies, emphasizing that management and users must understand their implications for financial reporting.

2. Presented By:-
TAUSIF ARSHAD
SONU KR. PRASAD
SHUBHANKAR
ADITYA AMIRITAS
DEEPSHIKHA
PRASHU JINESH JAIN

3.  What is IND AS ?
 Reason for Adoption
 Roadmap for Implementation
 Phase 1: Voluntary
 Phase 1: Mandatory
 Phase 2: Mandatory
 IFRS Composition
 Advantages
 Impact on Companies
 Why should we know IND AS ?
 Applicability
 Exempted Companies

4. Indian Accounting Standards
Set of accounting standards notified by
the Ministry of Corporate Affairs
Converged with International Financial
Reporting Standards (IFRS).

5. Every business is now GLOCAL.
Basic analysis, interpretation before
foreign investment.
Accounting is the language of
business.

6. PHASE 1 PHASE 1 PHASE 2
• Voluntary
• 1st April 2015
• Mandatory
• 1st April 2016
• Mandatory
• 1st April 2017

7. 1ST April 2015 or After
Voluntary Basis for All Companies

8. 1ST April 2016
Mandatory Basis
Listed/Unlisted companies having
Net Worth > Rs. 500 crore
Parent, Subsidiary, Associate and J. V of
Above

9. 1ST April 2017
Mandatory Basis
All listed companies
Unlisted companies net worth Rs. 500 crore >
Rs. 250 crore
Parent, Subsidiary, Associate and J. V of Above
Banks, Insurance Companies, MBFC’s, RRB’s
not yet decided

10. International
Financial
Reporting
Interpretations
Committee (IFRIC)
Standing
Interpretations
Committee (SIC)
International
Accounting
Standard (IAS)
International
Financial
reporting
Standard (IFRS)
IFRS

11. Framework is relevant, honest.
Enhanced Qualitative Characteristics.
Results to Qualitative way of
Accounting.
Can it be said ?

12. “I love today more
than yesterday but
less than tomorrow.
Lets dream for the
better future.”

13.  Reduces Diversity.
 Improves Transparency.
 Increases Reliability of the report.
 Reduces the Cost of Conversion.
 Provider of Economic Growth.

14.  Computation of key financials:
Operating profit
Net profit
Goodwill
Return on equity
 Example : Treatment of Excise Duty
 Increase revenue, depress operating
margin.

15. One time opportunity to reassess financial
reporting.
Wide application on a companies process.
IT System.
Internal Financial Control.
Income Taxes Payout.
 Management as well as users should be
aware

16. Net Worth of ₹500 crore.
Listed Equity/Debt Securities.
In process of getting listed.
Stand-Alone and Consolidated financial
statements.
Holding, subsidiaries, joint ventures or
associate companies of companies

17.  Insurance companies
 Banking companies
 Non-Banking Finance companies