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Ind AS & IFRS Accounting Standards

Ind AS (converged with IFRS) governs financial reporting for all Indian listed companies, large unlisted entities, and multinational enterprises. Master Ind AS 115 (Revenue from Contracts with Customers - 5-Step Model), Ind AS 116 (Right-of-Use Leases), Ind AS 109 (Expected Credit Loss ECL & Financial Instruments), Ind AS 12 (Deferred Taxes), and Business Combinations (Ind AS 103).

Curated 2026 Curriculum GuideProject-Based Track

ICAI Ind AS Standards SuiteIFRS Standards PortalAdvanced Financial Modeling in ExcelSAP S/4HANA Group Reporting

🇮🇳 Indian Market Benchmark

Expected CTC Range₹6.5L – ₹25.0L LPA

Estimated Timeline8 – 12 Weeks

Demand Scope15,000+ Openings in Big 4, GCCs & Listed Corporates

Experience LevelIntermediate

Top Hubs:Mumbai, Delhi NCR, Bengaluru, Hyderabad, Pune, Chennai, Kolkata

Explore Career Compass Match

Core Track Highlights

Top-tier technical accounting specialization commanded by high-growth listed companies and Big 4 advisory

Mandatory reporting standard for all Indian listed companies and NBFCs

Direct global equivalence with International Financial Reporting Standards (IFRS)

Technical Architecture & Concept Breakdown

Ind AS & IFRS Financial Reporting Architecture

Standard evaluation, fair value measurement, balance sheet adjustments, and comprehensive footnote disclosure.

Ind AS & IFRS Accounting Standards Core Architecture Diagram — Figure: Structural Systems & Execution Lifecycle for Ind AS & IFRS Accounting Standards

Ind AS 115 Revenue

5-step model identifying performance obligations, transaction price, and over-time recognition.

Ind AS 116 Leases

Recognizing Right-of-Use (ROU) assets and Lease Liabilities on balance sheet.

Ind AS 109 Financial Instruments

Amortized cost, FVTOCI, FVTPL, and 3-stage Expected Credit Loss (ECL) provisioning.

Ind AS 103 Business Combinations

Purchase price allocation (PPA), fair valuation of intangibles, and Goodwill calculation.

Structured Phase-by-Phase Syllabus

Focus on build-by-doing milestones rather than passive video consumption.

Weeks 1 - 4

Phase 1: Revenue Recognition (Ind AS 115) & Leases (Ind AS 116)

Ind AS 115 5-Step Model: Contract identification, performance obligations, transaction price, allocation, and recognition timing
Accounting for contract assets, contract liabilities, warranties, and variable consideration
Ind AS 116 Leases: Lessee accounting, Right-of-Use (ROU) asset amortization, lease liability discounting, and transition adjustments

🎯 Milestone Proof Project: Build an Ind AS 115 5-Step Revenue Model and Ind AS 116 Lease Liability Amortization Schedule in Excel.

Weeks 5 - 8

Phase 2: Financial Instruments (Ind AS 109) & Fair Value (Ind AS 113)

Classification of financial assets & liabilities: Amortized cost, FVTOCI, and FVTPL
3-Stage Expected Credit Loss (ECL) provisioning model for trade receivables and loan portfolios
Fair Value hierarchy (Level 1, 2, 3 inputs) under Ind AS 113 and embedded derivative accounting

🎯 Milestone Proof Project: Calculate 3-Stage Expected Credit Loss (ECL) provisions on a corporate trade receivable portfolio.

Weeks 9 - 12

Phase 3: Business Combinations (Ind AS 103) & Consolidation (Ind AS 110)

Ind AS 103 Business Combinations: Acquisition method, Purchase Price Allocation (PPA), and Goodwill / Capital Reserve computation
Consolidated Financial Statements under Ind AS 110: Elimination of intra-group transactions and Non-Controlling Interest (NCI)
Deferred Tax Assets / Liabilities under Ind AS 12 (Balance sheet liability method)

🎯 Milestone Proof Project: Prepare a complete Consolidated Financial Statement and Purchase Price Allocation (PPA) model.

Technical Interview Questions & Answers

Q1: Explain the 5-Step Model of Revenue Recognition under Ind AS 115 / IFRS 15.

The 5 steps are: (1) Identify the contract with a customer, (2) Identify the separate performance obligations in the contract, (3) Determine the transaction price, (4) Allocate the transaction price to the distinct performance obligations based on relative standalone selling prices, and (5) Recognize revenue when (or as) the entity satisfies each performance obligation (either over time or at a point in time).

Frequently Asked Questions

What is the key difference between Indian GAAP (AS) and Ind AS?

Indian GAAP was rule-based and historical-cost focused; Ind AS is principle-based, fair-value driven, and converged with international IFRS standards with extensive balance-sheet recognition (e.g. lease assets, ECL, fair valuation of investments).