List of Ind AS vis-a-vis IFRS and AS with analysis, List of all IndAS

List of Ind AS Notified by MCA – Indian Accounting Standards. Ministry of corporate affairs issued list of Indian Accounting Standards (IndAS), Here we are providing complete list of IndAS  notified by MCA.  Indian Accounting Standards (abbreviated as Ind AS) are a set of accounting standards notified by the Ministry of Corporate Affairs which are converged with International Financial Reporting Standards (IFRS) (IND AS is notified by NACAS.

Ministry of Corporate Affairs has come out with the Roadmap for Ind AS (Indian Accounting Standards) Implementation through Companies (Indian Accounting Standards) Rules, 2015. Ind AS or Indian Accounting Standards govern the accounting and recording of financial transactions as well as the presentation of statements such as profit and loss account and balance sheet of a company.

List of Ind AS Notified by MCA

IND AS No     Description
Ind AS 101 First-time Adoption of Indian Accounting Standards
Ind AS 102  Share-based Payment
Ind AS 103  Business Combinations
Ind AS 104 Insurance Contracts
Ind AS 105 Non-current Assets Held for Sale and Discontinued Operations
Ind AS 106 Exploration for and Evaluation of Mineral Resources
Ind AS 107 Financial Instruments: Disclosures
Ind AS 108 Operating Segments
Ind AS 109 Financial Instruments
Ind AS 110 Consolidated Financial Statements
Ind AS 111 Joint Arrangements
Ind AS 112 Disclosure of Interests in Other Entities
Ind AS 113 Fair Value Measurement
Ind AS 114 Regulatory Deferral Accounts
Ind AS 115 Revenue from Contracts with Customers
Ind AS 1 Presentation of Financial Statements
Ind AS 2 Inventories
Ind AS 7 Statement of Cash Flows
IndAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
Ind AS 10 Events after the Reporting Period
Ind AS 12 Income Taxes
Ind AS 16 Property, Plant and Equipment
Ind AS 116 Leases
Ind AS 19 Employee Benefits
Ind AS 20 Accounting for Government Grants and Disclosure of Government Assistance
Ind AS 21 The Effects of Changes in Foreign Exchange Rates
Ind AS 23 Borrowing Costs
Ind AS 24 Related Party Disclosures
Ind AS 27 Separate Financial Statements
Ind AS 28 Investments in Associates and Joint Ventures
Ind AS 29 Financial Reporting in Hyperinflationary Economies
Ind AS 32 Financial Instruments: Presentation
Ind AS 33 Earnings per Share
Ind AS 34 Interim Financial Reporting
Ind AS 36 Impairment of Assets
Ind AS 37 Provisions, Contingent Liabilities and Contingent Assets
Ind AS 38 Intangible Assets
Ind AS 40 Investment Property
Ind AS 41  Agriculture

What are Indian Accounting Standards (Ind AS)?

Indian Accounting Standards (Ind-AS) are the International Financial Reporting Standards (IFRS) converged standards issued by the Central Government of India under the supervision and control of Accounting Standards Board (ASB) of ICAI and in consultation with National Advisory Committee on Accounting Standards (NACAS).

ASB is a committee under Institute of Chartered Accountants of India (ICAI) which consists of representatives from government department, academicians, other professional bodies viz. icsi, icai, representatives from ASSOCHAM, CII, FICCI, etc. National Advisory Committee on Accounting Standards (NACAS) recommend these standards to the Ministry of Corporate Affairs (MCA). MCA has to spell out the accounting standards applicable for companies in India.

The Ind AS are named and numbered in the same way as the corresponding International Financial Reporting Standards (IFRS).

List of Ind AS vis-a-vis IFRS and AS

IND AS No     Description AS Title
Ind AS 101 First-time Adoption of Indian Accounting Standards
Ind AS 102  Share-based Payment
Ind AS 103  Business Combinations AS 14 Accounting for Amalgamations
Ind AS 104 Insurance Contracts
Ind AS 105 Non-current Assets Held for Sale and Discontinued Operations AS 24 Discontinuing Operations
Ind AS 106 Exploration for and Evaluation of Mineral Resources GN 15 5 Guidance Note on Accounting for Oil and Gas Producing Activities
Ind AS 107 Financial Instruments: Disclosures AS 32 Financial Instruments: Disclosures
Ind AS 108 Operating Segments AS 17 Segment Reporting
Ind AS 109 Financial Instruments AS 30 Financial Instruments: Recognition and Measurement
Ind AS 110 Consolidated Financial Statements AS 21 Consolidated Financial Statements
Ind AS 111 Joint Arrangements AS 27 Financial Reporting of Interests in Joint Ventures
Ind AS 112 Disclosure of Interests in Other Entities
Ind AS 113 Fair Value Measurement
Ind AS 114 Regulatory Deferral Accounts
Ind AS 115 Revenue from Contracts with Customers AS 7, AS 9 Construction Contract, Revenue Recognition
Ind AS 116 Leases AS 19 Leases
Ind AS 1 Presentation of Financial Statements AS 1 Disclosure of Accounting Policies
Ind AS 2 Inventories AS 2 Valuation of Inventories
Ind AS 7 Statement of Cash Flows AS 3 Cash Flow Statements
IndAS 8 Accounting Policies, Changes in Accounting Estimates and Errors AS 5 Net Profit or Loss for the Period, Prior period Items and Changes in Accounting Policies
Ind AS 10 Events after the Reporting Period AS 4 Contingencies and Events Occurring After the Balance Sheet date
Ind AS 12 Income Taxes AS 22 Accounting for Taxes on Income
Ind AS 16 Property, Plant and Equipment AS 10 Property, Plant and Equipment
Ind AS 19 Employee Benefits AS 15 Employee Benefits
Ind AS 20 Accounting for Government Grants and Disclosure of Government Assistance AS 12 Accounting for Government Grants
Ind AS 21 The Effects of Changes in Foreign Exchange Rates AS 11 The Effects of Changes in Foreign Exchange Rates
Ind AS 23 Borrowing Costs AS 16 Borrowing Costs
Ind AS 24 Related Party Disclosures AS 18 Related Party Disclosures
Ind AS 27 Separate Financial Statements
Ind AS 28 Investments in Associates and Joint Ventures AS 23 Accounting for Investment in Associates in Consolidated Financial Statements
Ind AS 29 Financial Reporting in Hyperinflationary Economies
Ind AS 32 Financial Instruments: Presentation
Ind AS 33 Earnings per Share AS 20 Earnings per Share
Ind AS 34 Interim Financial Reporting AS 25 Interim Financial Reporting
Ind AS 36 Impairment of Assets AS 28 Impairment of Assets
Ind AS 37 Provisions, Contingent Liabilities and Contingent Assets AS 29 Provisions, Contingent Liabilities and Contingent Assets
Ind AS 38 Intangible Assets AS 26 Intangible Assets
Ind AS 40 Investment Property AS 13 Accounting for Investments
Ind AS 41  Agriculture

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