List of Ind AS Alerted by MCA — Indian Accounting Standards. Ministry of business affairs provided list of Indian Accounting Standards (IndAS), Here we are supplying total list of IndAS informed by MCA. Indian Accounting Standards (shortened as Ind AS) are a set of accounting standards informed by the Ministry of Corporate Affairs which are converged with International Financial Reporting Standards (IFRS) (IND AS is notified by NACAS.
Ministry of Corporate Affairs has come out with the Roadmap for Ind AS( Indian Accounting Standards) Execution through Business (Indian Accounting Standards) Guidelines,2015 Ind AS or Indian Accounting Standards govern the accounting and recording of monetary deals in addition to the presentation of statements such as profit and loss account and balance sheet of a business.
List of Ind AS Notified by MCA
What are Indian Accounting Standards (Ind AS)?
Indian Accounting Standards (Ind-AS) are the International Financial Reporting Standards (IFRS) assembled standards provided by the Central Federal Government of India under the guidance and control of Accounting Standards Board (ASB) of ICAI and in consultation with National Advisory Committee on Accounting Standards (NACAS).
ASB is a committee under Institute of Chartered Accountants of India (ICAI) which consists of agents from federal government department, academicians, other expert bodies viz. icsi, icai, agents from ASSOCHAM, CII, FICCI, etc. National Advisory Committee on Accounting Standards (NACAS) suggest these standards to the Ministry of Corporate Affairs (MCA). MCA has to spell out the accounting requirements relevant for business in India.
The Ind AS are named and numbered in the very same method as the corresponding International Financial Reporting Standards (IFRS).
List of Ind AS vis-a-vis IFRS and AS
| IND AS No | Description | AS | Title |
| Ind AS 101 | Novice Adoption of Indian Accounting Standards | ||
| Ind AS 102 | Share-based Payment | ||
| Ind AS 103 | Business Mixes | AS 14 | Accounting for Amalgamations |
| Ind AS 104 | Insurance Agreements | ||
| Ind AS 105 | Non-current Assets Held for Sale and Discontinued Operations | AS 24 | Discontinuing Operations |
| Ind AS 106 | Expedition for and Assessment of Mineral Resources | GN 15 | 5 Guidance Note on Accounting for Oil and Gas Making Activities |
| Ind AS 107 | Financial Instruments: Disclosures | AS 32 | Financial Instruments: Disclosures |
| Ind AS 108 | Operating Sectors | AS 17 | Segment Reporting |
| Ind AS 109 | Financial Instruments | AS 30 | Financial Instruments: Recognition and Measurement |
| Ind AS 110 | Consolidated Financial Statements | AS 21 | Consolidated Financial Statements |
| Ind AS 111 | Joint Plans | AS 27 | Financial Reporting of Interests in Joint Ventures |
| Ind AS 112 | Disclosure of Interests in Other Entities | ||
| Ind AS 113 | Fair Worth Measurement | ||
| Ind AS 114 | Regulative Deferral Accounts | ||
| Ind AS 115 | Profits from Contracts with Customers | AS 7, AS 9 | Construction Agreement, Earnings Recognition |
| Ind AS 116 | Leases | AS 19 | Leases |
| Ind AS 1 | Presentation of Financial Statements | AS 1 | Disclosure of Accounting Policies |
| Ind AS 2 | Stocks | AS 2 | Valuation of Inventories |
| Ind AS 7 | Statement of Capital | AS 3 | Capital Statements |
| IndAS 8 | Accounting Policies, Modifications in Accounting Estimates and Errors | AS 5 | Net Earnings or Loss for the Duration, Prior period Items and Changes in Accounting Policies |
| Ind AS 10 | Events after the Reporting Period | AS 4 | Contingencies and Occasions Occurring After the Balance Sheet date |
| Ind AS 12 | Income Taxes | AS 22 | Accounting for Taxes on Income |
| Ind AS 16 | Home, Plant and Equipment | AS 10 | Property, Plant and Equipment |
| Ind AS 19 | Employee Advantages | AS 15 | Employee Advantages |
| Ind AS 20 | Accounting for Government Grants and Disclosure of Federal Government Support | AS 12 | Accounting for Government Grants |
| Ind AS 21 | The Results of Modifications in Foreign Exchange Rates | AS 11 | The Impacts of Modifications in Forex Rates |
| Ind AS 23 | Borrowing Expenses | AS 16 | Loaning Costs |
| Ind AS 24 | Related Party Disclosures | AS 18 | Related Celebration Disclosures |
| Ind AS 27 | Separate Financial Statements | ||
| Ind AS 28 | Investments in Associates and Joint Ventures | AS 23 | Accounting for Financial Investment in Associates in Consolidated Financial Statements |
| Ind AS 29 | Financial Reporting in Hyperinflationary Economies | ||
| Ind AS 32 | Financial Instruments: Discussion | ||
| Ind AS 33 | Earnings per Share | AS 20 | Earnings per Share |
| Ind AS 34 | Interim Financial Reporting | AS 25 | Interim Financial Reporting |
| Ind AS 36 | Impairment of Possessions | AS 28 | Problems of Properties |
| Ind AS 37 | Arrangements, Contingent Liabilities and Contingent Assets | AS 29 | Arrangements, Contingent Liabilities and Contingent Assets |
| Ind AS 38 | Intangible Assets | AS 26 | Intangible Assets |
| Ind AS 40 | Financial Investment Residential Or Commercial Property | AS 13 | Accounting for Investments |
| Ind AS 41 | Agriculture |
Suggested
- Applicability of Accounting requirements
- Worth Included declaration
- Accounting Policy
- Certificate of Service
- ICAI Test form
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