• K.Kalavathi

This paper gives an account of present status of Ind AS-Indian Accounting Standards converged with International Financial Reporting Standards (IFRS).It becomes mandatory for the Indian entities that fall under I-phase of implementation schedule after the announcement made by finance minister of India on July 2014 budget speech that Indian entities are required to adopt Ind AS for reporting purposes voluntarily for the accounting periods beginning on or after 1st April,2015-16 and mandatorily from1st April, 2016-17.As per this, Indian entities that satisfy applicability criteria are using Ind AS in the preparation and presentation of financial statements. On this background, the authorities involved in the convergence process, developments and present status of convergence and other related aspects are discussed in the paper.

Ind AS, convergence, Standard setting authorities, IFRS

"A conceptual Study on Converged Indian Accounting Standards (Ind AS)", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 10, page no.d145-d158, October-2021, Available :http://www.jetir.org/papers/JETIR2110317.pdf

"A conceptual Study on Converged Indian Accounting Standards (Ind AS)", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 10, page no. ppd145-d158, October-2021, Available at : http://www.jetir.org/papers/JETIR2110317.pdf