accounting standards board is responsible for issuing accounting standard in india.
who is responsible for issuing accounting standard in india?
accounting standards board
indian accounting standards









































indian accounting standard (abbreviated as ind-as) is the accounting standard adopted by companies in india and issued under the supervision of accounting standards board (asb) which was constituted as a body in the year 1977. asb is a committee under institute of chartered accountants of india (icai) which consists of representatives from government department, academicians, other professional bodies viz. icai, representatives from assocham, cii, ficci, etc.
indian accounting standards
in march 2013 the frc (now responsible for issuing accounting standards in the uk) issued frs 102, the financial reporting standard applicable in the uk and republic of ireland. this followed the issue of frs 100 application of financial reporting requirements and frs 101 the reduced disclosure framework in november 2012. together these standards make up what is commonly being referred to by accountants as new uk gaap, which takes mandatory effect for accounting periods commencing on or after 1 january 2015.
generally accepted accounting practice (uk)