1 This Standard prescribes the basis for presentation of general purpose financial statements to ensure comparability both with the entity’s financial statements of previous periods and with the financial statements of other entities.

Indian Accounting Standard (Ind AS) 1 Presentation of Financial Statements (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles). Objective

17 Ind AS 1 Presentation of Financial Statements; 18 Ind AS 2 Inventories; 19 Ind AS 7 Statement of Cash Flows; 20 Ind AS 8 Accounting Policies, Changes in Accounting Estimates and Errors; 21 Ind AS 10 Events after the reporting period; 22 Ind AS 12 Income Taxes; 23 Ind AS 16 Property, Plant and Equipment; 24 Ind AS 19 Employee Benefits

Indian Accounting Standards are almost similar to IFRS but with few carve outs so as to make them suitable for Indian Environment. Ind AS are named and numbered in the same way as the corresponding International Financial Reporting Standards (IFRS).

2023年4月5日 · IND AS 1 establishes the minimum requirements for the presentation of financial statements, including the balance sheet, income statement, statement of changes in equity, and statement of cash flows. It also specifies the minimum requirements for disclosures in the notes to the financial statements.

Indian Accounting Standards (Ind ASs) are Standards prescribed under Section 133 of the Companies Act, 2013.

This Educational Material contains summary of Ind AS 1 discussing the key requirements of the Standard in brief and the Frequently Asked Questions (FAQs) covering the issues, which are expected to be encountered frequently while implementing this Standard. The text of Ind AS 1 has been included as an Appendix to make this publication comprehensive.