Library / Technical Accounting Manual: IFRS, IAS and Ind AS Equivalents

Purpose, Scope and How to Use This Manual

This manual is drafted for finance controllers, technical accounting teams, internal auditors and investment professionals who require a working, citable reference on IFRS and IAS together with their Ind AS equivalents. It is structured so that each standard can be read either as a standalone technical brief or as part of a continuous study.

Section 1 provides standard-by-standard analysis. Standards of high practical significance - IAS 1, IAS 2, IAS 7, IAS 12, IAS 16, IFRS 2, IFRS 3, IFRS 9, IFRS 10, IFRS 15 and IFRS 16 - receive extended treatment covering recognition, measurement, presentation and disclosure, supported by prescribed statement formats, decision trees, computation tables and journal entries. Remaining standards receive proportionate but complete coverage.

Section 2 maps standards to industry application - SaaS, FinTech and NBFCs, manufacturing, real estate and pharmaceuticals - and provides deep dives on share-based payments and derivative instruments. It closes with an analysis of why venture capital and private equity investors mandate IFRS or Ind AS adoption, addressing valuation, debt covenants and exit readiness.

Section 3 provides internal audit programmes and guidance on testing management's assumptions, the area of greatest assurance risk.

Navigational conventions used throughout

▸ Justified body text - All narrative is justified with even spacing for readability.

▸ Bold amber - Defined terms, standard references and technical terminology.

▸ Italics - Emphasis on qualifying language - probable, highly probable, distinct, substantive.

▸ Decision trees - Rendered natively; Mermaid.js source is reproduced in the Appendix.

▸ Carve-out tables - Every standard closes with an IFRS versus Ind AS comparison identifying carve-outs and carve-ins.

▸ Checklists - Section 3 programmes include an evidence column and a sign-off box.

SCOPE LIMITATION AND PROFESSIONAL USE

This manual states the position under standards effective as at the date of compilation and is intended as a technical reference and training aid. It does not constitute an audit opinion, a formal accounting opinion, or advice on any specific transaction. Application of any standard to a particular fact pattern requires evaluation of the complete contractual terms and the entity's specific circumstances, and should be documented in a transaction-specific accounting position paper.