Ind AS and IFRS—explained through implementation questions.
A practical learning centre for recognition, measurement, presentation and disclosure under globally aligned reporting frameworks.
FrameworkStart with applicability
Before comparing treatments, establish the reporting framework, transition date, group requirements, statutory notifications and relevant amendments.
JudgmentDocument the conclusion
A technically correct answer should still explain facts, alternatives considered, key assumptions, evidence, sensitivities and disclosure impact.
CommunicationConnect numbers and narrative
Measurement, presentation and disclosures must tell one coherent story across the financial statements, notes and management explanations.
Practical topic pathways
Each pathway is designed around questions a finance team encounters during transactions, closing and review.
Inventories: AS 2, Ind AS 2 and IAS 2
- Cost composition and conversion overheads
- NRV evidence and subsequent reversals
- Cost formulas and consistency
- Industry-specific exclusions and exceptions
Financial instruments and receivables
- Contractual rights and classification
- Ageing, credit risk and impairment evidence
- Expected credit loss governance
- Presentation and disclosure controls
Property, plant and equipment
- Recognition and directly attributable cost
- Components and major inspections
- Useful life, residual value and review
- Impairment and derecognition
Revenue and contract analysis
- Contract existence and enforceable rights
- Obligations and transaction price
- Timing, cut-off and variable amounts
- Evidence and disclosure consistency
Authoritative resources
Compendium of Ind AS
Official ICAI access point for notified standards and related material.
Open sourceMCANotified standards and rules
Check the Ministry of Corporate Affairs for the legal notification and amendments applicable to companies.
Open sourceIFRS FoundationIssued IFRS Standards
Standard summaries, project history and implementation support from the global standard setter.
Open sourceOpen the full Ind AS professional reference centre.
Access the current compendium, standard-by-standard links, conceptual framework, educational material, disclosure checklist and implementation workflow.