Question

Ind - AS is the Indian Version of IFRS. comment​

Answer 1

IND-AS are converged standards of IFRS. IFRS are not adopted as it is. Certain changes have been made in IFRS considering the economic environment of the country.

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Answer 2

Answer:

In simple terms, Convergence with IFRS means that India would not be applying the IFRS as issued by the International Body but would try to get its own accounting standards in snyc with the International Financial Reporting Standards. And these synced Indian Accounting Standards are popularly referred to as 'Ind-AS'.. .