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.
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.
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.
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.
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.
We are a Delhi based Consultancy aiming to provide a host of Financial, Legal, and Taxation consultancy services.
Copyright ©2023 Master Brains. All rights reserved. Developed by Feedbox