Comparison of ‘IFRS’/ ‘IAS’ and Corresponding ‘Ind AS’ notified by MCA

2016-09-20 Accounting
Sl. No. IFRS/ IAS Ind AS Subject
1 IAS 1 Ind AS 1 Presentation of Financial Statements
2 IAS 2 Ind AS 2 Inventories
3 IAS 7 Ind AS 7 Statement of Cash Flows
4 IAS 8 Ind AS 8 Accounting Policies, Changes in Accounting Estimates and Errors
5 IAS 10 Ind AS 10 Events after the Reporting Period
6 IAS 11 Ind AS 11 Construction Contracts
7 IAS 12 Ind AS 12 Income Taxes
8 IAS 16 Ind AS 16 Property, Plant and Equipment
9 IAS 17 Ind AS 17 Leases
10 IAS 18 Ind AS 18 Revenue
11 IAS 19 Ind AS 19 Employee Benefits
12 IAS 20 Ind AS 20 Accounting for Government Grants and Disclosure of Government Assistance
13 IAS 21 Ind AS 21 The Effects of Changes in Foreign Exchange Rates
14 IAS 23 Ind AS 23 Borrowing Costs
15 IAS 24 Ind AS 24 Related Party Disclosures
16 IAS 26 None Accounting and Reporting by Retirement Benefit Plans [Ind AS corresponding to IAS 26, Accounting and Reporting by Retirement Benefit Plans, has not been issued as this standard is not applicable to companies].
17 IAS 27 Ind AS 27 Consolidated and Separate Financial Statements
18 IAS 28 Ind AS 28 Investments in Associates and Joint Ventures
19 IAS 29 Ind AS 29 Financial Reporting in Hyper Inflationary Economies
20 IAS 32 Ind AS 32 Financial Instruments: Presentation
21 IAS 33 Ind AS 33 Earnings per Share
22 IAS 34 Ind AS 34 Interim Financial Reporting
23 IAS 36 Ind AS 36 Impairment of Assets
24 IAS 37 Ind AS 37 Provisions, Contingent Liabilities and Contingent Assets
25 IAS 38 Ind AS 38 Intangible Assets
26 IAS 39 None Financial Instruments: Recognition and Measurement [Since India has decided to converge early with IFRS 9, Financial Instruments. Accordingly, Ind AS 109, Financial Instruments, has been issued and Ind AS 39, Financial Instruments: Recognition and Measurement, has not been issued].
27 IAS 40 Ind AS 40 Investment Property
28 IAS 41 Ind AS 41 Agriculture
29 IFRS 1 Ind AS 101 First-time Adoption of Indian Accounting Standards
30 IFRS 2 Ind AS 102 Share-based Payment
31 IFRS 3 Ind AS 103 Business Combinations
32 IFRS 4 Ind AS 104 Insurance Contracts
33 IFRS 5 Ind AS 105 Non-current Assets Held for Sale and Discontinued Operations
34 IFRS 6 Ind AS 106 Exploration  for   and  Evaluation  of Mineral Resources
35 IFRS 7 Ind AS 107 Financial Instruments: Disclosures
36 IFRS 8 Ind AS 108 Operating Segments
37 IFRS 9 Ind AS 109 Financial Instruments
38 IFRS 10 Ind AS 110 Consolidated Financial Statements
39 IFRS 11 Ind AS 111 Joint Arrangements
40 IFRS 12 Ind AS 112 Disclosure of Interest in Other Entities
41 IFRS 13 Ind AS 113 Fair Value Measurement
42 IFRS 14 Ind AS 114 Regulatory Deferral Account

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