Comparison of ‘IFRS’/ ‘IAS’ and Corresponding ‘Ind AS’ notified by MCA

Comparison Chart Showing the ‘International Financial Reporting Standards (IFRS)’/ ‘International Accounting Standards (IAS)’ and the Corresponding ‘Indian Accounting Standards (Ind AS)’ notified by MCA

Sl. No.IFRS/ IASInd ASSubject
1IAS 1Ind AS 1Presentation of Financial Statements
2IAS 2Ind AS 2Inventories
3IAS 7Ind AS 7Statement of Cash Flows
4IAS 8Ind AS 8Accounting Policies, Changes in Accounting Estimates and Errors
5IAS 10Ind AS 10Events after the Reporting Period
6IAS 11Ind AS 11Construction Contracts
7IAS 12Ind AS 12Income Taxes
8IAS 16Ind AS 16Property, Plant and Equipment
9IAS 17Ind AS 17Leases
10IAS 18Ind AS 18Revenue
11IAS 19Ind AS 19Employee Benefits
12IAS 20Ind AS 20Accounting for Government Grants and Disclosure of Government Assistance
13IAS 21Ind AS 21The Effects of Changes in Foreign Exchange Rates
14IAS 23Ind AS 23Borrowing Costs
15IAS 24Ind AS 24Related Party Disclosures
16IAS 26NoneAccounting and Reporting by Retirement Benefit Plans [Ind AS corresponding to IAS 26, Accounting and Reporting by Retirement Benefit Plans, has not been issued as this standard is not applicable to companies].
17IAS 27Ind AS 27Consolidated and Separate Financial Statements
18IAS 28Ind AS 28Investments in Associates and Joint Ventures
19IAS 29Ind AS 29Financial Reporting in Hyper Inflationary Economies
20IAS 32Ind AS 32Financial Instruments: Presentation
21IAS 33Ind AS 33Earnings per Share
22IAS 34Ind AS 34Interim Financial Reporting
23IAS 36Ind AS 36Impairment of Assets
24IAS 37Ind AS 37Provisions, Contingent Liabilities and Contingent Assets
25IAS 38Ind AS 38Intangible Assets
26IAS 39NoneFinancial Instruments: Recognition and Measurement [Since India has decided to converge early with IFRS 9, Financial Instruments. Accordingly, Ind AS 109, Financial Instruments, has been issued and Ind AS 39, Financial Instruments: Recognition and Measurement, has not been issued].
27IAS 40Ind AS 40Investment Property
28IAS 41Ind AS 41Agriculture
29IFRS 1Ind AS 101First-time Adoption of Indian Accounting Standards
30IFRS 2Ind AS 102Share-based Payment
31IFRS 3Ind AS 103Business Combinations
32IFRS 4Ind AS 104Insurance Contracts
33IFRS 5Ind AS 105Non-current Assets Held for Sale and Discontinued Operations
34IFRS 6Ind AS 106Exploration  for   and  Evaluation  of Mineral Resources
35IFRS 7Ind AS 107Financial Instruments: Disclosures
36IFRS 8Ind AS 108Operating Segments
37IFRS 9Ind AS 109Financial Instruments
38IFRS 10Ind AS 110Consolidated Financial Statements
39IFRS 11Ind AS 111Joint Arrangements
40IFRS 12Ind AS 112Disclosure of Interest in Other Entities
41IFRS 13Ind AS 113Fair Value Measurement
42IFRS 14Ind AS 114Regulatory Deferral Account
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