MCA has announced 35 accounting standards!!

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 February 2011 To anyone who can solve the query

Indian Accounting Standards Board (IASB) is converging our Indian Standards alongwith IFRS and the same is named as IAS.

Now Ministry of Corporate Affairs has announced the text of 35 IAS which are very bulky. Are these the same as the ones given out by IASB?

If am on a completely wrong path, kindly explain as am totally confused !!

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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28 February 2011 You are wrong.

Firstly , the name of new standards has been given as " IND AS.

IND AS is on the basis of IFRS and IAS.

No these are not on the line of AS.

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