ISSUES AND CHALLENGES IN IMPLEMENTATION OF IND AS

Abstract

The ministry of corporate affair (MCA) rank in the new year by announcing the roadmap for implementation of Indian Accounting Standards (Ind AS). IFRS is a set of accounting language which is worldwide acceptable which offers comparability, reliability, accuracy etc., which helps global investors to invest globally and also helps company to enter into the global market.

Though the adoption of IND AS could create certain complexities, in the long run, this major regulatory reform will help them catapult into the global league by having a financial reporting structure that is not only comparable with the best in the world but also more acceptable global stakeholder’s thereby providing more transparent view of their financial results. The implementation of IND AS is the sign of globalization and its one of the great revolution in the field accounting.