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The Reserve Bank of India issued guidelines for implementation of Ind AS by Non-banking financial companies (NBFCs) and Asset reconstruction companies (ARCs). What does Ind AS stand for?
A)
Indian Asset Standards
B)
International Asset Standards
C)
Indian Accounting Standards
D)
International Accounting Standards

Correct Answer :   Indian Accounting Standards


The Reserve Bank on Friday issued regulatory guidelines for implementation of Indian Accounting Standards (Ind AS) by Non-banking financial companies (NBFCs) and Asset reconstruction companies (ARCs) when they prepare their financial results from FY20.
Indian Accounting Standards is the Accounting standard adopted by companies in India and they are issued under the supervision of Accounting Standards Board (ASB). The Ind AS have been formulated to converge our standards with International Financial Reporting Standards (IFRS)

Published On : July 16, 2021
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