alleryStart learning →An Indian company with overseas subsidiaries prepares its consolidated statements under?
ASubsidiary local GAAP
BIFRS issued by IASB
CInd AS if criteria met
DHost country local GAAP
Answer & Solution
Correct answer: C. Ind AS if criteria met
The Indian parent must prepare consolidated statements under Ind AS, voluntarily or mandatorily, when it meets the sub-rule (1) criteria.
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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?