CONVERSION OF FINANCIAL STATEMENTS FROM AS COMPLIANT TO IND-AS COMPLIANT
It is well known that with effect from 1st April 2017, it is mandatory to prepare Ind-AS Compliant financial statements for certain unlisted companies and all listed companies. Non-compliance of these provisions may lead to litigations for the companies. Moreover, the option for voluntary adoption of this provisions is also open. For compliance of this provision, conversion of AS compliant financials statements is required. Masterbrains Ind AS experts have the niche experience of converting AS Compliant financial statements to Ind-AS Compliant financial statements for the companies.
FINANCIAL STATEMENTS PREPARATION AS PER IND-AS
As mentioned above, certain companies now have to prepare Ind-AS compliance financial statements. Masterbrains consultants also offer preparation services of fully Ind-AS compliant financial statements from scratch for standalone and consolidated financial statements. It is noteworthy that non-compliance with Ind AS may lead to litigations for the company.
REVIEW OF FINANCIAL STATEMENTS FOR IND-AS COMPLIANCE
Most Companies prefer a second eye when it comes to Ind AS compliance as the standards are fairly complicated and new to the company resources. Thus, Masterbrains consultants offer a review of financial statements to ensure that the financial statements prepared comply with Ind-AS. It involves a detailed analysis of Scheduled III requirements, accounting treatments, accounting policies, and disclosures.
CONSULTANCY IN ACCOUNTING OF TRANSACTIONS IN COMPLIANCE WITH IND-AS
There is significant confusion amongst accounting departments of the companies on the accounting treatment of complicated transactions and events, keeping Ind-AS in mind. Masterbrains consultants have the knowledge, expertise, and judgement to guide the companies on accounting of transactions, in compliance with Ind-AS.
SUPPORT FOR NFRA LITIGATION FOR
IND- AS MATTERS
NFRA conducts Financial Reporting Reviews of companies. It may demand various reasons, justifications, clarifications, documents, or details on accounting treatment or disclosure of certain items in Financial Statements from the company and auditors.
FAQs on Indian Accounting Standards Consultancy
What is Indian Accounting Standards (IND AS), and why is compliance important for businesses?
IND AS are the Indian adaptation of International Financial Reporting Standards (IFRS). MCA has notified certain class of companies for which Ind AS will be mandatory. Hence, compliance is crucial for transparency, accurate financial reporting and to adhere MCA guidelines.
How can Master Brains Consultants help in converting financial statements from AS compliant to IND AS compliant?
We have IND AS experts on our team who follow a systematic and structured approach, ensuring a seamless transition to IND AS-compliant financial statements. We assess your individual situation and requirements, and based on it we plan and execute the conversion activities. After successful conversion, we offer complete support in ongoing Ind AS reporting.
Which companies are mandatorily required to adopt Ind AS?
From 1st April 2017, Ind AS is mandatory for all the listed companies and unlisted companies with a net worth of Rs. 250 crores or more. Holding, Subsidiary, Joint venture or associate companies of these companies are also required to adopt Ind AS.
How will the voluntary adoption of Ind as beneficial for my company?
The voluntary adoption of Indian Accounting Standards (Ind AS) can offer several benefits for your company. It can boost investor confidence, facilitate access to global markets, and enhance the credibility of your company’s financial reporting.
Can Master Brains help with the review of Financial Statements even if I do not hire them for preparation of my books of accounts?
Yes, Master Brains can provide independent review services for your Financial Statements, even if you haven’t engaged them for the preparation of your books of accounts. We offer a complete review of financial statements to ensure that the financial statements prepared comply with Ind-AS.
Can you explain your support for NFRA litigation related to IND AS matters?
Masterbrains experts will provide full litigation support to the companies while responding to the queries of NFRA by preparation of replies, representation, and any other support so required.
How can Master Brains Consultants assist businesses in staying updated with evolving IND AS standards?
Our job doesn’t end with the conversion of financial statements. We provide ongoing support by keeping our clients informed about changes in Ind AS and helping them implement these changes effectively. We also train their staff on the latest developments and remain available to address all their queries.
What industries or businesses can benefit from your IND AS consultancy services?
The applicability of Ind AS is not limited to a particular industry or business. All companies for whom Ind AS is mandatory and any other companies wishing to voluntarily adopt Ind AS can avail our services.
What happens once a company starts following Ind AS, voluntarily or mandatorily?
Once a company adopts Ind AS, it must continue to follow them for all subsequent financial statements, even if criteria change.
How can businesses in different parts of India access your IND AS consultancy services?
We have a PAN India presence, making our consultancy services accessible to clients across the country.
We are a Delhi based Consultancy aiming to provide a host of Financial, Legal, and Taxation consultancy services.
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CONSULTANCY ON ACCOUNTING OF TRANSACTIONS IN COMPLIANCE WITH IND-AS
There is significant confusion amongst accounting departments of the companies on the accounting treatment of complicated transactions and events, keeping Ind-AS in mind. Masterbrains consultants have the knowledge, expertise, and judgement to guide the companies on accounting of transactions, in compliance with Ind-AS.
CONSULTANCY ON ACCOUNTING OF TRANSACTIONS IN COMPLIANCE WITH IND-AS
There is significant confusion amongst accounting departments of the companies on the accounting treatment of complicated transactions and events, keeping Ind-AS in mind. Masterbrains consultants have the knowledge, expertise, and judgement to guide the companies on accounting of transactions, in compliance with Ind-AS.
REVIEW OF FINANCIAL STATEMENTS FOR IND-AS COMPLIANCE
Most Companies prefer a second eye when it comes to Ind AS compliance as the standards are fairly complicated and new to the company resources. Thus, Masterbrains consultants offer a review of financial statements to ensure that the financial statements prepared comply with Ind-AS. It involves a detailed analysis of Scheduled III requirements, accounting treatments, accounting policies, and disclosures.
REVIEW OF FINANCIAL STATEMENTS FOR IND-AS COMPLIANCE
Most Companies prefer a second eye when it comes to Ind AS compliance as the standards are fairly complicated and new to the company resources. Thus, Masterbrains consultants offer a review of financial statements to ensure that the financial statements prepared comply with Ind-AS. It involves a detailed analysis of Scheduled III requirements, accounting treatments, accounting policies, and disclosures.
CONVERSION OF FINANCIAL STATEMENTS FROM AS COMPLIANT TO IND-AS COMPLIANT
It is well known that with effect from 1st April 2017, it is mandatory to prepare Ind-AS Compliant financial statements for certain unlisted companies and all listed companies. Non-compliance of these provisions may lead to litigations for the companies. Moreover, the option for voluntary adoption of this provisions is also open. For compliance of this provision, conversion of AS compliant financials statements is required. MasterbrainsĂ¢â‚¬
Ind AS experts have the niche experience of converting AS Compliant financial statements to Ind-AS Compliant financial statements for the companies
Ind AS experts have the niche experience of converting AS Compliant financial statements to Ind-AS Compliant financial statements for the companies
CONVERSION OF FINANCIAL STATEMENTS FROM AS COMPLIANT TO IND-AS COMPLIANT
It is well known that with effect from 1st April 2017, it is mandatory to prepare Ind-AS Compliant financial statements for certain unlisted companies and all listed companies. Non-compliance of these provisions may lead to litigations for the companies. Moreover, the option for voluntary adoption of this provisions is also open. For compliance of this provision, conversion of AS compliant financials statements is required. MasterbrainsĂ¢â‚¬ Ind AS experts have the niche experience of converting AS Compliant financial statements to Ind-AS Compliant financial statements for the companies
Ind AS experts have the niche experience of converting AS Compliant financial statements to Ind-AS Compliant financial statements for the companies
FINANCIAL STATEMENTS PREPARATION AS PER IND-AS
As mentioned above, certain companies now have to prepare Ind-AS compliance financial statements. Masterbrains consultants also offer preparation services of fully Ind- AS compliant financial statements from scratch for standalone and consolidated financial statements. It is noteworthy that non-compliance with Ind AS may lead to litigations for the company.
FINANCIAL STATEMENTS PREPARATION AS PER IND-AS
As mentioned above, certain companies now have to prepare Ind-AS compliance financial statements. Masterbrains consultants also offer preparation services of fully Ind- AS compliant financial statements from scratch for standalone and consolidated financial statements. It is noteworthy that non-compliance with Ind AS may lead to litigations for the company.
SUPPORT FOR NFRA LITIGATION FOR IND- AS MATTERS
NFRA conducts Financial Reporting Reviews of companies. It may demand various reasons, justifications, clarifications, documents, or details on accounting treatment or disclosure of certain items in Financial Statements from the company and auditors. Masterbrains experts will provide full litigation support to the companies while responding to the queries of NFRA by preparation of replies, representation, and any other support so required.
SUPPORT FOR NFRA LITIGATION FOR IND- AS MATTERS
NFRA conducts Financial Reporting Reviews of companies. It may demand various reasons, justifications, clarifications, documents, or details on accounting treatment or disclosure of certain items in Financial Statements from the company and auditors. Masterbrains experts will provide full litigation support to the companies while responding to the queries of NFRA by preparation of replies, representation, and any other support so required.
Land & Building Valuation
we believe in providing you with more than just numbers; we offer strategic insights that elevate your real estate investments. Whether you're looking to buy, sell, or simply understand the true value of your property, our meticulous approach ensures you're armed with the most accurate and up-to-date information. Gain the upper hand in negotiations, secure fair deals, and maximize your returns with our PAN India valuation services. Trust Master Brains to turn real estate into real opportunities
OPERATIONS PLANNING
Ideating a startup is easy but making it operational is the biggest challenge for a startup owner. Masterbrains consultants will help you plan your operations, including marketing plan, sales plan, logistics plan, supply chain management, personnel plan, etc. Our professionals are skilled in detailed operations planning as they have working experience in various industries. Plan and execute your operations efficiently with Masterbrains consultants.
Share Valuation
At Master Brains, we understand that success in the world of investments demands precision and insight. That's why we offer Share Valuations that go beyond mere numbers. Our seasoned experts specialize in providing meticulous assessments of shares and equities, giving you a competitive edge in the financial landscape. Whether you're an investor seeking growth opportunities or a business owner navigating complex transactions, our comprehensive valuations provide the clarity you need to make strategic decisions. Count on Master Brains for accurate, trustworthy, and PAN India Share Valuation services that unlock the full potential of your investments. With us, you're not just investing; you're investing wisely
OPERATIONS PLANNING
Ideating a startup is easy but making it operational is the biggest challenge for a startup owner. Masterbrains consultants will help you plan your operations, including marketing plan, sales plan, logistics plan, supply chain management, personnel plan, etc. Our professionals are skilled in detailed operations planning as they have working experience in various industries. Plan and execute your operations efficiently with Masterbrains consultants.
Business Valuation
At Master Brains, we recognize that every business holds a unique story and value. With our Business Valuation services, we don't just assess numbers; we uncover opportunities. Our team of seasoned experts specializes in providing comprehensive business valuations that empower you to make strategic decisions with confidence. Whether you're a business owner planning an exit strategy, an investor seeking the right opportunity, or a professional navigating mergers and acquisitions, our precise assessments guide your path to success. Trust Master Brains for accurate, trustworthy, and PAN India Business Valuation services that reveal the true worth of your enterprise. With us, you're not just valuing a business; you're unlocking its full potential
OPERATIONS PLANNING
Ideating a startup is easy but making it operational is the biggest challenge for a startup owner. Masterbrains consultants will help you plan your operations, including marketing plan, sales plan, logistics plan, supply chain management, personnel plan, etc. Our professionals are skilled in detailed operations planning as they have working experience in various industries. Plan and execute your operations efficiently with Masterbrains consultants.
Other Assets Valuation
we understand that not all assets fit into standard categories like real estate or financial investments. That's where our expertise comes in. With our team of seasoned professionals, each a specialist in their own domain, we excel in valuing assets that are unique and diverse. Whether it's intellectual property, equipment, inventory, or any other valuable asset, we have the experience and knowledge to provide you with accurate and reliable valuations. Trust Master Brains for a personalized and precise assessment of your assets, tailored to meet your specific needs. Your financial decisions and compliance requirements are in capable hands with us.
OPERATIONS PLANNING
Ideating a startup is easy but making it operational is the biggest challenge for a startup owner. Masterbrains consultants will help you plan your operations, including marketing plan, sales plan, logistics plan, supply chain management, personnel plan, etc. Our professionals are skilled in detailed operations planning as they have working experience in various industries. Plan and execute your operations efficiently with Masterbrains consultants.
Foreign Accounting
Going global? Trust Master Brains for Foreign Accounting services covering the United States, United Kingdom, Singapore, and more. Our team of professionals has a deep understanding of international accounting standards and regulations. We'll help you navigate the complexities of foreign accounting, ensuring your financial reporting meets the specific requirements of each jurisdiction.
OPERATIONS PLANNING
Ideating a startup is easy but making it operational is the biggest challenge for a startup owner. Masterbrains consultants will help you plan your operations, including marketing plan, sales plan, logistics plan, supply chain management, personnel plan, etc. Our professionals are skilled in detailed operations planning as they have working experience in various industries. Plan and execute your operations efficiently with Masterbrains consultants.
Drafting and Preparation of Financial Statement​
Master Brains offers end-to-end support for your financial statement needs. Whether you require assistance with drafting, preparation, or finalization of financial statements, our team has the expertise to deliver accurate and compliant reports. We ensure that your financial statements are professionally crafted, reflecting your financial health accurately and meeting all regulatory standards. Trust us to handle this critical aspect of your business with precision and efficiency.
OPERATIONS PLANNING
Ideating a startup is easy but making it operational is the biggest challenge for a startup owner. Masterbrains consultants will help you plan your operations, including marketing plan, sales plan, logistics plan, supply chain management, personnel plan, etc. Our professionals are skilled in detailed operations planning as they have working experience in various industries. Plan and execute your operations efficiently with Masterbrains consultants.