Ind AS Consultancy

Ind - AS Consultancy

Conversion of financial statements

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

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

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

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

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.

 
     
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