Difference between Indian Accounting Standards and IFRS

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nishit, Student (MBA), India
What are the main differences between Indian accounting standards and IFRS? Thank you.. (...) Read more? Sign up for free

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  Iman ghafri (mrs.), Project Manager
 

Difference Between Indian Accounting Standards versus IFRS

Basic difference is taxation treatments and accruals of various payments and receipts.

  Teresa C. Arcayera, Accountant, Philippines
 

Difference Between Indian and IFRS Accounting Standards

The difference between Indian accounting standards and IFRS, maybe, is the location of implementation. Indian accounting standards are implemented or true to India only, while International Financial Reporting Standards are implemented in other countries.

  Cebile Sifundza, Student (Other), Swaziland
 

Difference Between Indian Accounting Standards versus IFRS

IFRS are basically used as a basis for developing national accounting standards to suit that particular country. Normally they are adopted as they are and only those IFRS which are not relevant to that particular country are revised to be in line with national policies/law. For example IFRS 12 on income taxes is revised by most countries to be in line with their national laws.

 
More on International Accounting Standards
Summary
Forum
Interpretation of IAS Standards
Difference between Indian Accounting Standards and IFRS
🔥How People see the Accounting Job
Best Practices
🥇Benefits of International Accounting Standards (IAS)
🥈Consequences of Violation of IAS?
🥉Types of Auditing Standards
Influence IAS on IT Systems
Usage of International Accounting Standards (IAS)
How Many Accounting Standards
Role of International Accounting Standards Committee
IAS and 'Fair' Financial Statements
International Acconnting Standards for a Public Limited Company
Total Number of IAS Standards?
Special Interest Group Leader

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