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Applicability of Indian Accounting Standards (Ind-AS) toCompanies Financial Statements Accounting PeriodsBeginning 01-04-2015, 01-04-2016 or 01-04-2017 |20-02-2015 |Get ABCAUS updates by emailExcel for Chartered AccountantsApplicability of New Indian Accounting Standards Ind AS 2015 to Classes of Companies as Notified by MCAMinistry of Corporate Affairs (MCA) has notified Companies (Indian Accounting Standards) Rules, 2015prescribing the new Indian Accounting Standards (Ind AS) applicable to companies/classes of companies incontrast with applicability of the Accounting standards specified in Companies (Accounting Standards) Rules,2006 .The applicability of new Ind AS 2015 vis--vis AS 2006 has been defined in Rule 4 and is summaries as under:It is evident that unlisted companies having turnover less than 500 crores are not required to follow these newInd AS. However, once the Indian Accounting Standards (Ind AS) are applied voluntarily, it shall be irrevocable ,it has been categorically specified that once a company starts following the Indian Accounting Standards (IndAS) either voluntarily or mandatorily on the basis of criteria specified, it shall be required to follow the IndianAccounting Standards (Ind AS) for all the subsequent financial statements even if any of the criteria specifieddoes not subsequently apply to it.

Relevant Accounting Periods Ind AS 2015 AS 2006(1) (2) (3)

For the financial statements for accountingperiods beginning on or after 1 st April,2015, with the comparative figures for thepreceding accounting period for the periodsending on 31st March, 2015, or thereafter

Any Company AnyCompany

For the accounting periods beginning on orafter 1st April, 2016 , with the comparativefigures for the preceding accounting periodfor the periods ending on 31st March, 2016,or thereafter

(a) Companies whose equity or debtsecurities are listed/ in the process of listingon any stock exchange (other than SMEExchange) in India/abroad and having networth of rupees five hundred crore or more;Or;(b) Companies having net worth of rupeesfive hundred crore or more.Or;(c) Holding, subsidiary, joint venture orassociate companies of companies as perclause (a) or (b) above.

Other thanthosecompaniesSpecified inmatching rowto column (2)

For the accounting periods beginning on orafter 1st April, 2017 , with the comparativefigures for the preceding accounting periodfor the periods ending on 31st March, 2017,or thereafter

(a) Companies whose equity or debtsecurities are listed/are in the process oflisting on any stock exchange (other thanSME Exchange) in India/abroad and havingnet worth of less than rupees five hundredcrore.Or;(b) Unlisted companies having net worth ofrupees two hundred and fifty crore or morebut less than rupees five hundred crore.Or;(c) Holding, subsidiary, joint venture orassociate companies of companies as perclause (a) or (b) above.

Other thanthosecompaniesSpecified inmatching rowto column (2)

Download Companies (Indian Accounting Standards) Rules, 2015 Click Here >>Download New Ind-AS 2015 Click Here >>Download Companies (Accounting Standards) Rules, 2006 Click Here >>1 1 1Google +0 954

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Relevant Accounting Periods

Ind AS 2015

AS 2006

(1)

(2)

(3)

For the financial statements for accounting periods beginning on or after 1 st April, 2015, with the comparativefigures for the preceding accounting period for the periods ending on 31st March, 2015, or thereafter

Any Company

Any Company

For the accounting periods beginning on or after 1st April, 2016 , with the comparative figures for the precedingaccounting period for the periods ending on 31st March, 2016, or thereafter

(a) Companies whose equity or debt securities are listed/ in the process of listing on any stock exchange (otherthan SME Exchange) in India/abroad and having net worth of rupees five hundred crore or more;

Or;

(b) Companies having net worth of rupees five hundred crore or more.

Or;

(c) Holding, subsidiary, joint venture or associate companies of companies as per clause (a) or (b) above.

Other than those companies Specified in matching row to column (2)

For the accounting periods beginning on or after 1st April, 2017 , with the comparative figures for the precedingaccounting period for the periods ending on 31st March, 2017, or thereafter

(a) Companies whose equity or debt securities are listed/are in the process of listing on any stock exchange(other than SME Exchange) in India/abroad and having net worth of less than rupees five hundred crore.

Or;

(b) Unlisted companies having net worth of rupees two hundred and fifty crore or more but less than rupees fivehundred crore.

Or;

(c) Holding, subsidiary, joint venture or associate companies of companies as per clause (a) or (b) above.

Other than those companies Specified in matching row to column (2)

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Applicability of Indian Accounting Standards (Ind-AS) to Companies Financial Statements Accounting Periods Beginning 01-04-2015, 01-04-2016 or 01-04-2017 |20-02-2015 |