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TMI BlogIndian Accounting StandardsX X X X Extracts X X X X X X X X Extracts X X X X ..... Indian Accounting Standards X X X X Extracts X X X X X X X X Extracts X X X X ..... l Banks), All-India Term-lending Refinancing Institutions (i.e. Exim Bank, NABARD, NHB and SIDBI) to adopt Accounting Standards for Periods beginning from 01/04/18 onwards for preparation of financial statements. (ii) NBFCs with networth of ₹ 500 crore and more to adopt Accounting Standards for Periods beginning from 01/04/18 onwards for preparation of financial statements. (iii) NBFCs tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t are listed or in the process of being listed and having networth of less than ₹ 500 crores to adopt Accounting Standards for periods beginning from 01/04/19 onwards for preparation of financial statements. (iv) Unlisted NBFCs having networth between ₹ 250 crores and ₹ 500 crores to adopt Accounting Standards for Periods beginning from 01/04/19 onwards for preparation of financ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ial statements. (v) Holding subsidiary, Joint Venture or associate companies of (iii) and (iv) above to adopt Accounting Standards for Periods beginning from 01/04/19 onwards for preparation of financial statements. These Ind AS are converged with International Financial Reporting Standards (IFRS). Minimum carve outs have been made in order to address country specific requirements. This was sta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today. X X X X Extracts X X X X X X X X Extracts X X X X
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