The Indian Accounting Standards (Ind AS) are reality now. The companies covered under the Phase-I of the roadmap issued by the Ministry of Corporate Affairs are already under-going the mandatory phase of implementation. Phase-II companies and certain other class of companies (eg Banks, Insurance Companies and Non-Banking Financial Companies) would implement these soon in near future. Being the paradigm change as compared to existing accounting practice, Ind AS would impact every facet of each sector in one way or the other.
As a quick reference guide for the key identified sectors, Mazars has developed a series of short industry specific publications. The purpose of these publications is to acquaint the readers with the key statistics and significant Ind AS focus areas about that specific sector.