differnce between indas and as treatment

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IND AS refers to Indian Accounting Standards while AS refers to Accounting Standards. IND AS is converged with IFRS while AS is not.

IND AS is converged with IFRS (International Financial Reporting Standards) while AS is not.
IND AS is applicable to certain class of companies based on criteria like net worth, turnover, etc. while AS is applicable to all companies.
IND AS focuses on principles-based approach while AS focuses on rules-based approach.
IND AS requires more disclosures compared to AS.
Example: Under IND AS, companies may have to revalue their assets like property, plant, and equipment to fair value, while under AS, historical cost is generally used.

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