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Ind AS industry insights
Ind AS represents a fundamental shift that will force many CFOs to play a larger role in setting standards for their organisations. Reporting under Ind AS will enhance the presentation of financial performance and balance sheet to investors and capital providers.
Ind AS are at par with global reporting standards and accordingly, the accounting principles adopted and the disclosures accompanying financial statements become even more important to investors, as they provide information about the decisions made regarding various accounting judgements made by the management in preparing financial statements. Needless to say, the impact of any fundamental change to an accounting framework has a much wider ramification on the company. Any transaction, from a routine sales transaction to corporate restructuring, needs to be narrated in an accounting language. So when that changes, the impact is pervasive.