CONVERSION OF FINANCIAL STATEMENTS FROM AS COMPLIANT TO IND-AS COMPLIANT

It is well known that with effect from 1st April 2017, it is mandatory to prepare Ind-AS Compliant financial statements for certain unlisted companies and all listed companies. Non-

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FINANCIAL STATEMENTS PREPARATION AS PER IND-AS

As mentioned above, certain companies now have to prepare Ind-AS compliance financial statements. Masterbrains consultants also offer preparation services of fully Ind-AS

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REVIEW OF FINANCIAL STATEMENTS FOR IND-AS COMPLIANCE

Most Companies prefer a second eye when it comes to Ind AS compliance as the standards are fairly complicated and new to the company resources. Thus, Masterbrains consultants offer a

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CONSULTANCY IN ACCOUNTING OF TRANSACTIONS IN COMPLIANCE WITH IND-AS

There is significant confusion amongst accounting departments of the companies on the accounting treatment of complicated transactions and events, keeping Ind-AS in mind. Masterbrains

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SUPPORT FOR NFRA LITIGATION FOR IND- AS MATTERS

NFRA conducts Financial Reporting Reviews of companies. It may demand various reasons, justifications, clarifications, documents, or details on accounting treatment or disclosure of

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FAQs on Indian Accounting Standards Consultancy

IND AS are the Indian adaptation of International Financial Reporting Standards (IFRS). MCA has notified certain class of companies for which Ind AS will be mandatory. Hence, compliance is crucial for transparency, accurate financial reporting and to adhere MCA guidelines.

We have IND AS experts on our team who follow a systematic and structured approach, ensuring a seamless transition to IND AS-compliant financial statements. We assess your individual situation and requirements, and based on it we plan and execute the conversion activities. After successful conversion, we offer complete support in ongoing Ind AS reporting.

From 1st April 2017, Ind AS is mandatory for all the listed companies and unlisted companies with a net worth of Rs. 250 crores or more. Holding, Subsidiary, Joint venture or associate companies of these companies are also required to adopt Ind AS.

The voluntary adoption of Indian Accounting Standards (Ind AS) can offer several benefits for your company. It can boost investor confidence, facilitate access to global markets, and enhance the credibility of your company’s financial reporting.

Yes, Bs consultancy services can provide independent review services for your Financial Statements, even if you haven’t engaged them for the preparation of your books of accounts. We offer a complete review of financial statements to ensure that the financial statements prepared comply with Ind-AS.

Masterbrains experts will provide full litigation support to the companies while responding to the queries of NFRA by preparation of replies, representation, and any other support so required.

Our job doesn’t end with the conversion of financial statements. We provide ongoing support by keeping our clients informed about changes in Ind AS and helping them implement these changes effectively. We also train their staff on the latest developments and remain available to address all their queries.

The applicability of Ind AS is not limited to a particular industry or business. All companies for whom Ind AS is mandatory and any other companies wishing to voluntarily adopt Ind AS can avail our services.

Once a company adopts Ind AS, it must continue to follow them for all subsequent financial statements, even if criteria change.

We have a PAN India presence, making our consultancy services accessible to clients across the country.

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