Chartered Accountants · Bhubaneswar0674-3550500info@pbt.org.in
P B T & Co LLP

Practice Areas · Compliance · Taxation & Advisory · Indirect tax & FEMA · Ind AS implementation

Ind AS Implementation

Adoption of Indian Accounting Standards — transition, accounting policies, and converged financial statements.

Overview

What Ind AS implementation covers

Indian Accounting Standards (Ind AS) are India's IFRS-converged accounting standards, applicable to companies above prescribed thresholds. Moving to Ind AS changes how revenue, financial instruments, leases, and many other items are recognised and disclosed.

The firm manages the transition — assessing the gaps, framing the policies, restating the opening balance sheet, and producing the first converged financial statements — and advises on Ind AS questions thereafter.

Who needs it

Who applies Ind AS

Phased applicability

  • Listed companies and large unlisted companies above the net-worth thresholds
  • Holding, subsidiary, associate, and joint-venture companies of the above

Voluntary / lenders

  • Companies adopting voluntarily, or required to by investors or lenders
Scope

What we deliver

Ind AS implementation covers the transition end to end, including:

  • A gap assessment between current GAAP and Ind AS
  • Accounting-policy choices and first-time-adoption (Ind AS 101) elections
  • Restatement of the opening balance sheet and comparatives
  • Areas such as revenue, financial instruments, leases, and consolidation
  • The converged financial statements and the expanded disclosures
Process

How we work

  1. 01

    Assess the gaps

    Compare current accounting with Ind AS and scope the impact.

  2. 02

    Frame policies

    Choose accounting policies and the first-time-adoption elections.

  3. 03

    Restate

    Prepare the opening balance sheet, adjustments, and comparatives.

  4. 04

    Report

    Produce the converged financial statements and disclosures.

Why PBT

Why work with PBT

PBT manages the Ind AS transition so your reporting converges cleanly.

  • A thorough gap assessment and impact analysis
  • Sound accounting-policy and adoption choices
  • Careful restatement and disclosure
  • Continuity with your audit
  • Scope, deliverables, and fees agreed in writing up front
FAQs

Frequently asked questions

  • Does Ind AS apply to my company?

    It applies to listed and larger unlisted companies above the net-worth thresholds, and to their group companies. We confirm whether and from when it applies to you.

  • What changes most under Ind AS?

    Commonly revenue recognition, financial instruments, leases, and consolidation, along with much more extensive disclosure. We map the impact for your business.

  • How long does it take?

    A transition is typically a multi-month project depending on size and complexity; we plan it around your reporting date.

Transition to Ind AS cleanly

Tell us about your company, and we'll scope the gap assessment and manage the transition.

Send an enquiry

This page describes the nature of the firm's services and is not a solicitation or legal advice. Thresholds, timelines, and applicable registrations depend on your specific facts; engagement terms and fees are agreed in writing per assignment.

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