Accountancy, asked by tygakhalifa134, 2 months ago

Explain the difference between Indian GAAP and IFRS

Answers

Answered by fladderop
1

Answer:

The key difference between IFRS vs Indian GAAP is that IFRS is the international accounting standards that provide guidance on how different transactions should be reported by the company in their financial statements which is used by many countries, whereas, Indian GAAP are the generally accepted accounting principles.

Answered by Pachaureji1997
0

Answer:

The key difference between IFRS vs Indian GAAP is that IFRS is the international accounting standards that provide guidance on how different transactions should be reported by the company in their financial statements which is used by many countries, whereas, Indian GAAP are the generally accepted accounting principles developed by Ministry of Corporate Affairs (MCA) and followed in India only.

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