alleryStart learning →A company first meets the net worth threshold on 31 March 2017. Ind AS applies from which year?
AFY 2019-20
BFY 2016-17
CFY 2018-19
DFY 2017-18
Answer & Solution
Correct answer: D. FY 2017-18
Companies crossing the threshold apply Ind AS from the immediately next accounting year, here FY 2017-18.
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Related questions
Under Rule 4, Ind AS binds companies in preparing statements and auditors in what?A small associate of a first-phase company must apply Ind AS from?A company in the process of listing has net worth of Rs 600 crore. Ind AS from?An unlisted entity with the minimum Rs 250 crore net worth begins Ind AS on?At precisely Rs 500 crore net worth, an unlisted entity adopts Ind AS beginning when?ICAI, which houses the Accounting Standards Board, was formed under what?The ICDS notified in February 2015 relate to what?Before Ind AS, Indian companies followed which accounting framework?