0Ind AS issued under the supervision of accounting standard board which formed by ICAI(Institute of Chartered Accountant of India) consists of the representative from govt. , professional and officials from other bodies from different sectors.
It is an Indian version of IFRS(international financial reporting standard). there is total 36 accounting standard.
It is applicable to
- Every Listed Company.
- Unlisted Companies with Net Worth of not less than 2.5 billion and not more than 5 billion.
Indian companies have to follow this standard if this increases the certain limit mentioned above.
