List of IFRS Corresponding to Ind AS PDF

# List of IFRS corresponding to the Ind AS International Financial Reporting Standards in a broad sense comprise: - Conceptual Framework for Financial Reporting —stating basic principles and grounds of IFRS - IAS-standards issued before 2001 - IFRS-standards issued after 2001 - SIC-interpretations...

# List of IFRS corresponding to the Ind AS International Financial Reporting Standards in a broad sense comprise: - Conceptual Framework for Financial Reporting —stating basic principles and grounds of IFRS - IAS-standards issued before 2001 - IFRS-standards issued after 2001 - SIC-interpretations of accounting standards, giving specific guidance on unclear issues - IFRIC—newer interpretations, issued after 2001 ## List of IFRS corresponding to the Ind AS notified by the MCA | S No. | IFRS/IAS | Indian Accounting Standard | Name | |---|---|---|---| | 1 | IAS 1 | Ind AS 1 | Presentation of Financial Statements | | 2 | IAS 2 | Ind AS 2 | Inventories | | 3 | IAS 7 | Ind AS 7 | Statement of Cash Flows | | 4 | IAS 8 | Ind AS 8 | Accounting Policies, Changes in Accounting Estimates and Errors | | 5 | IAS 10 | Ind AS 10 | Events after the Reporting Period | | 6 | IAS 11 | Ind AS 11 | Construction Contracts | | 7 | IAS 12 | Ind AS 12 | Income Taxes | | 8 | IAS 16 | Ind AS 16 | Property, Plant and Equipment | | 9 | IAS 17 | Ind AS 17 | Leases | | 10 | IAS 18 | Ind AS 18 | Revenue | | 11 | IAS 19 | Ind AS 19 | Employee Benefits | | 12 | IAS 20 | Ind AS 20 | Accounting for Government Grants and Disclosure of Government Assistance | | 13 | IAS 21 | Ind AS 21 | The Effects of Changes in Foreign Exchange Rates | | 14 | IAS 23 | Ind AS 23 | Borrowing Costs | | 15 | IAS 24 | Ind AS 24 | Related Party Disclosures | | 16 | IAS 26 | - | Accounting and Reporting by Retirement Benefit Plans | | 17 | IAS 27 | Ind AS 27 | Separate Financial Statements | | 18 | IAS 28 | Ind AS 28 | Investments in Associates and Joint Ventures | | 19 | IAS 29 | Ind AS 29* | Financial Reporting in Hyperinflationary Economies | | 20 | IAS 32 | Ind AS 32 | Financial Instruments: Presentation | | 21 | IAS 33 | Ind AS 33 | Earnings per Share | | 22 | IAS 34 | Ind AS 34 | Interim Financial Reporting | | 23 | IAS 36 | Ind AS 36 | Impairment of Assets | | 24 | IAS 37 | Ind AS 37 | Provisions, Contingent Liabilities and Contingent Assets | | 25 | IAS 38 | Ind AS 38 | Intangible Assets | | 26 | IAS 39 | ** | Financial Instruments: Recognition and Measurement | | 27 | IAS 40 | Ind AS 40 | Investment Property | | 28 | IAS 41 | Ind AS 41 | Agriculture | | 29 | IFRS 1 | Ind AS 101 | First-time Adoption of Indian Accounting Standards | | 30 | IFRS 2 | Ind AS 102 | Share-based Payment | | 31 | IFRS 3 | Ind AS 103 | Business Combinations | | 32 | IFRS 4 | Ind AS 104 | Insurance Contracts | | 33 | IFRS 5 | Ind AS 105 | Non-current Assets Held for Sale and Discontinued Operations | | 34 | IFRS 6 | Ind AS 106 | Exploration for and Evaluation of Mineral Resources | | 35 | IFRS 7 | Ind AS 107 | Financial Instruments: Disclosures | | 36 | IFRS 8 | Ind AS 108 | Operating Segments | | 37 | IFRS 9 | Ind AS 109 | Financial Instruments | | 38 | IFRS 10 | Ind AS 110 | Consolidated Financial Statements | | 39 | IFRS 11 | Ind AS 111 | Joint Arrangements | | 40 | IFRS 12 | Ind AS 112 | Disclosure of Interest in Other Entities | | 41 | IFRS 13 | Ind AS 113 | Fair Value Measurement | | 42 | IFRS 14 | Ind AS 114 | Regulatory Deferral Account | | 43 | IFRS 15 | Ind AS corresponding to IFRS 15, IFRS 16 and IFRS 17 are under formulation* | Revenue from Contracts with Customers | | 44 | IFRS 16 | - | Leases | | 45 | IFRS 17 | - | Insurance Contracts | * Since the Core paper on Financial Reporting does not cover Ind AS equivalent to IAS 29, IFRS 15, IFRS 16 and IFRS 17, the same IFRS shall also not form part of the GFRS Paper. ## IFRICS/SICs included in the corresponding Appendices to Ind AS As per the scheme of formulation of Indian Accounting Standards, the interpretations issued by the IASB, IFRIC and SIC added as an appendix with the relevant Ind AS. | S No. | IFRIC/SIC No. | Corresponding Appendix included in Ind AS | IFRIC/SIC | |---|---|---|---| | 1 | IFRIC 1 | Appendix A to Ind AS 16 | Changes in Existing Decommissioning, Restoration and Similar Liabilities | | 2 | IFRIC 2 | # | Members' Shares in Co-operative Entities and Similar Instruments | | 3 | IFRIC 4 | Appendix C to Ind AS 17 | Determining whether an Arrangement contains a Lease | | 4 | IFRIC 5 | Appendix A to Ind AS 37 | Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds | | 5 | IFRIC 6 | Appendix B to Ind AS 37 | Liabilities arising from Participating in a Specific Market-Waste Electrical and Electronic Equipment | | 6 | IFRIC 7 | Appendix A to Ind AS 29 | Applying the Restatement Approach under Ind AS 29 Financial Reporting in Hyperinflationary Economies | | 7 | IFRIC 9 | Not included as Ind AS 39 have been replaced with Ind AS 109 | Reassessment of Embedded Derivatives | | 8 | IFRIC 10 | Appendix A to Ind AS 34 | Interim Financial Reporting and Impairment | | 9 | IFRIC 12 | Appendix A to Ind AS 11 | Service Concession Arrangements | | 10 | IFRIC 13 | Appendix B to Ind AS 18 | Customer Loyalty Programmes | | 11 | IFRIC 14 | Appendix B to Ind AS 19 | Ind AS 19 - The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction | | 12 | IFRIC 16 | Appendix C to Ind AS 109 | Hedges of a Net Investment in a Foreign Operation | | 13 | IFRIC 17 | Appendix A to Ind AS 10 | Distributions of Non-cash Assets to Owners | | 14 | IFRIC 18 | Appendix C to Ind AS 18 | Transfer of Assets from Customers | | 15 | IFRIC 19 | Appendix D to Ind AS 109 | Extinguishing Financial Liabilities with Equity Instruments | | 16 | IFRIC 20 | Appendix B to Ind AS 16 | Stripping Cost in the Production Phase of a Surface Mine | | 17 | IFRIC 21 | Appendix C to Ind AS 37 | Levies | | 18 | IFRIC 22 | Under formulation (As an Appendix to Ind AS 21) | Foreign Currency Transactions and Advance Consideration (Effective from 1 January, 2018) | | 19 | IFRIC 23 | Under formulation (As an Appendix to Ind AS 12) | Uncertainty over Income Tax Treatments (Effective from 1 January 2019) | | 20 | SIC-7 | ## | Introduction of Euro | | 21 | SIC-10 | Appendix A to Ind AS 20 | Government Assistance— No Specific Relation to Operating Activities | | 22 | SIC-15 | Appendix A to Ind AS 17 | Operating Leases- Incentives | | 23 | SIC-25 | Appendix A to Ind AS 12 | Income Taxes—Changes in the Tax Status of an Entity or its Shareholders | | 24 | SIC-27 | Appendix B to Ind AS 17 | Evaluating the Substance of Transactions Involving the Legal Form of a Lease | | 25 | SIC-29 | Appendix B to Ind AS 11 | Service Concession Arrangements: Disclosures | | 26 | SIC-31 | Appendix A to Ind AS 18 | Revenue-Barter Transactions Involving Advertising Services | | 27 | SIC-32 | Appendix A to Ind AS 38 | Intangible Assets-Web Site Costs | *Appendix corresponding to IFRIC 2 is not issued as it is not relevant for the companies. ## Appendix corresponding to SIC 7 is not issued as it is not relevant in the Indian context. Since there is no notified Appendix on IFRIC 2, IFRIC 22, IFRIC 23 and SIC 7, they have not been discussed in the Core paper on Financial Reporting. Hence the same shall also not form part of the GFRS Paper.