alleryStart learning →A company first crosses the threshold at the close of 31 March 2019. Ind AS starts in?
AFY 2020-21
BFY 2019-20
CFY 2018-19
DFY 2021-22
Answer & Solution
Correct answer: B. FY 2019-20
Ind AS applies from the immediate next accounting year after the year-end of first meeting the threshold, so FY 2019-20.
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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?