alleryStart learning →At precisely Rs 500 crore net worth, an unlisted entity adopts Ind AS beginning when?
ANot mandatory
B1 April 2017
C1 April 2018
D1 April 2016
Answer & Solution
Correct answer: D. 1 April 2016
Net worth of Rs 500 crore or more includes the boundary value, so the 1 April 2016 phase applies.
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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?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?The Accounting Standards Board is a committee under which body?