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Phase 2 of #IndAS Implementation, Are you ready ??

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With the beginning of the Financial Year 2017-18, Phase 2 of #IndAS implementation kicks off. Lets check out if your company is covered under phase 2.

 Following class of companies are required to present their Financial Statements complying with #IndAS for the financial year ended 31st March, 2018 along with comparatives of the financial year ended 31st March,2017

 (1) All the listed companies or Companies in the process of listing on stock exchanges. (here SME stock exchange listing is not covered, Companies listed on SME stock exchange are not required to implement #IndAS and can choose to implement Voluntarily)

 (2) Unlisted Companies having networth in the range of Rs. 250 crores to Rs. 500 crores. (Companies having networth of more than Rs. 500 crores were covered in Phase 1 of the #IndAS Implementation roadmap)

 (3) Any Holding, Subsidiary, Associate or Joint Venture company of the companies covered under (1) & (2) above.

 If your company fits in any of the above criteria, your company is required to implement IndAS from FY 2017-18. So are you prepared..???

 Stay tuned for more updates..

 Naresh Soneji
Follow on Twitter @financegupshup

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