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Indian Accounting Standards(Ind AS) are accounting standards issued by Institute of Chartered Accountants of India (ICAI) which are converged with International Financial Reporting Standards(IFRS)^[1] . Now India will have two sets of accounting standards viz. existing Indian accounting standards and IFRS converged Indian Accounting Standards(Ind AS)^[2] . NACAS recommend these standards to the Ministry of Corporate Affairs. The Ministry of Corporate Affairs has to spell out the accounting standards applicable for companies in India. As on date the Ministry of Corporate Affairs notified 35 Indian Accounting Standards(Ind AS). But it has not notified the date of implementation of the same^[3] .

External Links

References

^ [1],IFRS converged.
^ [2], List of Ind AS.
^ http://www.mca.gov.in/Ministry/accounting_standards.html], Ind As notified by MCA.

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[test-1] [1],IFRS converged.

[Ind_AS-2] [2], List of Ind AS.

[Ind_As_notified_by_MCA-3] ttp://www.mca.gov.in/Ministry/accounting_standards.html], Ind As notified by MCA.

[1]

[2]

[3]

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	'''Indian Accounting Standards'''(Ind AS) are accounting standards issued by [[Institute of Chartered Accountants of India]] ([[ICAI]]) which are converged with [[International Financial Reporting Standards]]([[IFRS]])~~{{Citation~~ ~~needed\|reason~~=~~reliable~~ ~~source~~ ~~needed for the whole sentence\|date=February 2011}}~~. Now India will have two sets of accounting standards viz. existing Indian accounting standards and [[IFRS]] converged Indian Accounting Standards(Ind AS)<ref name="Ind AS">[http://www.icai.org/post.html?post_id=474], List of Ind AS.</ref> . [[NACAS]] recommend these standards to the [[Ministry of Corporate Affairs (India)\|Ministry of Corporate Affairs]]. The [[Ministry of Corporate Affairs (India)\|Ministry of Corporate Affairs]] has to spell out the accounting standards applicable for companies in India. As on date the [[Ministry of Corporate Affairs (India)\|Ministry of Corporate Affairs]] notified 35 Indian Accounting Standards(Ind AS). But it has not notified the date of implementation of the same<ref name="Ind As notified by MCA">http://www.mca.gov.in/Ministry/accounting_standards.html], Ind As notified by MCA.</ref> .		'''Indian Accounting Standards'''(Ind AS) are accounting standards issued by [[Institute of Chartered Accountants of India]] ([[ICAI]]) which are converged with [[International Financial Reporting Standards]]([[IFRS]])<ref name="test">[http://http://www.dnaindia.com/money/report_converged-ifrs-notified-implementation-deferred_1512819],IFRS converged.</ref> . Now India will have two sets of accounting standards viz. existing Indian accounting standards and [[IFRS]] converged Indian Accounting Standards(Ind AS)<ref name="Ind AS">[http://www.icai.org/post.html?post_id=474], List of Ind AS.</ref> . [[NACAS]] recommend these standards to the [[Ministry of Corporate Affairs (India)\|Ministry of Corporate Affairs]]. The [[Ministry of Corporate Affairs (India)\|Ministry of Corporate Affairs]] has to spell out the accounting standards applicable for companies in India. As on date the [[Ministry of Corporate Affairs (India)\|Ministry of Corporate Affairs]] notified 35 Indian Accounting Standards(Ind AS). But it has not notified the date of implementation of the same<ref name="Ind As notified by MCA">http://www.mca.gov.in/Ministry/accounting_standards.html], Ind As notified by MCA.</ref> .

	==External Links==		==External Links==