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Companies With Over Rs 500 Crore Net-Worth Now to Follow New Accounting Rules

Companies with a net-worth of Rs 500 crore or more will have to follow the new Indian Accounting Standards (Ind AS) from April 1,2016. The new standards are benchmarked to the International Financial Reporting Standards ( IFRS).It shall be known as  The Companies (Indian Accounting Standards) Rules, 2015 It  was introduced for being  implementation in phases, for…