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ARTICLE · 01 MARCH 2017

Ind AS Transition Facilitation Group: Clarifications And Interpretations

Nexdigm Private Limited
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Pursuant to the introduction of the Indian Accounting Standards (Ind AS) vide notification dated 16 February 2015, by the Ministry of Corporate Affairs (MCA), companies covered by...

IndiaAccounting and Audit
Nexdigm Private Limited
Nexdigm Private Limited
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Pursuant to the introduction of the Indian Accounting Standards (Ind AS) vide notification dated 16 February 2015, by the Ministry of Corporate Affairs (MCA), companies covered by Ind AS implementation roadmap (corporate roadmap) have already implemented Ind AS on 1 April 2016 or are planning to implement it in the next accounting year. MCA has also notified a separate roadmap for Ind AS implementation for banks, insurance companies and Non- Banking Financial Companies (NBFCs). The date for implementation of Ind AS for these companies is specified in the respective roadmap.

During this transition from accounting standards to Ind AS, most of the companies are facing issues which require immediate clarifications and interpretations.

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