Five months left - Are you ready for India’s new accounting regime?
From the next fiscal year, starting on April 1, 2016, large Indian companies will have to change their financial accounting and reporting to a new system. CT outlines where the biggest pain points will come from.
It is time for Indian companies to wave goodbye to their current accounting regime – Indian GAAP – and embrace the new Indian Accounting Standards (Ind AS), which become mandatory for listed and unlisted companies with a net worth* of more than Rs500 crore ($76.38 million) as of April 1, 2016.
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