CA Inter Ind AS Explained | Carve-In vs Carve-Out for Beginners | First Accounting Class | 2027

Ind AS (Indian Accounting Standards) are a new set of accounting standards prepared in parity with IFRS (International Financial Reporting Standards). India decided to make certain changes according to its own economic environment. Modifications or changes are called Carve-outs. Additions made by India are called Carve-ins. India did not eliminate any IFRS requirements because a situation that does not exist today may arise in the future. Therefore, instead of removing provisions, India only modified some and added some. Hence, we say that Ind AS are prepared in parity with IFRS. Who is required to follow Ind AS? All listed companies. Unlisted companies having a net worth of ₹250 crore or more. Important Note: Net worth is a Balance Sheet item. Turnover (Sales) is a Profit & Loss (P&L) item. Net worth and turnover are not the same. #CAInter #CAStudents #IndAS #IFRS #CarveIn #CarveOut #Accounting #ICAI #CA2026 #CA2027 #ExamPrep #Revision #CommerceStudents #Finance #FutureCA #StudyReels #ExamPrep #Revision #LearnAccounting #AccountingMadeEasy #StudyMotivation #FinanceEducation #CAJourney #CAAspirants #StudentLife