Indian Accounting Standards (Ind AS) are worked as principal or rules for the companies to maintain their Accounting Books with all compliances in a proper manner. This post includes the Amendments, Indian Accounting Standard list, summary, and PDF.

Indian Accounting Standards are issued by ICAI (Institute of Chartered Accountants of India) under the supervision of Accounting Standards Board (ASB).

Accounting Standards Board (ASB) is the board of representing and managing the Accounting Standards in India. Formerly, India followed accounting standards from Indian Generally Acceptable Accounting Principle (IGAAP) prior to the adoption of the Indian Accounting Standards. There was only Accounting Standards which creates the problems for multinational companies to manage their accounts. Because they need to comply and make their records of two types, the first one is with “Accounting Standards” for India and the second one with “International Financial Reporting Standards (IFRS)”.

In order to reduce the compliances and some sort of confusion. Institute of Chartered Accountants of India (ICAI) introduced the new Accounting Standards and called them “Indian Accounting Standards” under the supervision of Accounting Standards Board (ASB). All Ind AS are named and numbered same as Internation Financial Reporting Standards (IFRS) to reduce the compliances and for better transparency.

Indian Accounting Standards – Ind AS Applicability

  • Mandatory Applicability from Accounting Period beginning on or after 1st April 2016

    • Every Company with the Net worth of not less than 500 crores (5 billion).

  • Mandatory Applicability from Accounting Period beginning on or after 1st April 2017

    • Every Listed Company.
    • Unlisted Companies with Net worth greater than or equal to Rs. 250 crore (2.5 billion) but less than Rs. 500 crore (5 billion)(for any of the below mentioned periods).

    Net worth shall be checked for the previous four Financial Years (2014-14, 2014-15, 2015-16, and 2016-17)

List of Ind AS

Indian Accounting Standards list includes the each and every Indian Accounting Standard in accordance with the International Finacial Accounting. For a better view, we include this Indian Accounting Standards list from ICAI website. All Indian Accounting standards mentioned in this Accounting Standards list is taken from ICAI.

Below mentioned links included the Indian Accounting Standards PDF. You can download them and also you can download this Indian Accounting Standards list pdf here.

Download Indian Accounting Standards List PDF.

  1. Roadmap for Implementation of Indian Accounting Standards
  2. Framework for the Preparation and Presentation of Financial Statements in accordance with Indian Accounting Standards
  3. Ind AS 101 First-time Adoption of Indian Accounting Standards
  4. Ind AS 102 Share-based Payment
  5. Ind AS 103 Business Combinations
  6. Ind AS 104 Insurance Contracts
  7. Ind AS 105 Non-current Assets Held for Sale and Discontinued Operations
  8. Ind AS 106 Exploration for and Evaluation of Mineral Resources
  9. Ind AS 107 Financial Instruments: Disclosures
  10. Ind AS 108 Operating Segments
  11.  Ind AS 1 Presentation of Financial Statements
  12. Ind AS 2 Inventories
  13. Ind AS 7 Statement of Cash Flows
  14. Ind AS 8 Accounting Policies, Changes in Accounting Estimates and Errors
  15. Ind AS 10 Events after the Reporting Period
  16. Ind AS 11 Construction Contracts
  17. Ind AS 12 Income Taxes
  18. Ind AS 16 Property, Plant, and Equipment
  19. Ind AS 17 Leases
  20. Ind AS 18 Revenue
  21. Ind AS 19 Employee Benefits
  22. Ind AS 20 Accounting for Government Grants and Disclosure of Government Assistance
  23. Ind AS 21 The Effects of Changes in Foreign Exchange Rates
  24. Ind AS 23 Borrowing Costs
  25. Ind AS 24 Related Party Disclosures
  26. Ind AS 27 Consolidated and Separate Financial Statements
  27. Ind AS 28 Investments in Associates
  28.  Ind AS 29 Financial Reporting in Hyperinflationary Economies
  29. Ind AS 31 Interests in Joint Ventures
  30. Ind AS 32 Financial Instruments: Presentation
  31. Ind AS 33 Earnings per Share
  32. Ind AS 34 Interim Financial Reporting
  33. Ind AS 36 Impairment of Assets
  34. Ind AS 37 Provisions, Contingent Liabilities, and Contingent Assets
  35. Ind AS 38 Intangible Assets
  36. Ind AS 39 Financial Instruments: Recognition and Measurement
  37. Ind AS 40 Investment Property
  38. Comparison of IFRS as applicable on 1st April 2011 with Ind AS placed at MCA’s website

For the list of Indian Accounting Standards with explanation and Indian Accounting Standards Summary and Indian Accounting Standard PDF. Please visit the Accounting and Auditing.

Amendments In Indian Accounting Standards

All amendments in Indian Accounting Standards are covered below up to the May 2018 as notified by Central Government under Companies Act:


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