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nishit, Student (MBA), India
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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
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Difference Between Indian Accounting Standards versus IFRS
Basic difference is taxation treatments and accruals of various payments and receipts.
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Teresa C. Arcayera, Accountant, Philippines
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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.
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Cebile Sifundza, Student (Other), Swaziland
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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.
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More on International Accounting Standards
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Special Interest Group Leader
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