AS vs Ind AS Who Follows What in India? Dual Accounting System |CA Intermediate Advanced Accounting

India Runs on a Dual Accounting System 🇮🇳 Yes—both AS and Ind AS are currently in use. So, who follows what? Let’s simplify 👇 Who Follows AS (Accounting Standards)? If you are: An individual A partnership firm An unlisted company with net worth below ₹250 crore 👉 You follow AS ✔ Simpler ✔ Easier to understand Who Follows Ind AS (Indian Accounting Standards)? If you are: A listed company (like Reliance Industries) OR an unlisted company with net worth ≥ ₹250 crore 👉 You must follow Ind AS ✔ More detailed ✔ More complex ✔ Globally aligned Important Point ⚠ Even if a listed company: Is in heavy losses Has negative net worth 👉 It STILL has to follow Ind AS Why Two Systems? AS → Simple, basic framework Ind AS → Advanced, detailed, time-consuming That’s why: 📘 CA Inter → AS 📕 CA Final → Ind AS Current Reality Both systems exist side-by-side in India. Future Outlook 🔮 One day, all Accounting Standards may fully align with Ind AS. #AccountingStandards #IndAS #IndianAccounting #FinanceIndia #CorporateFinance #CAInter #CAFinal #CAStudents #CommerceStudents #AccountingReels #FinanceReels #FinancialLiteracy #IndianEconomy #BusinessIndia #ListedCompanies #NetWorth