Accounting Standards · Panaji, Goa
End-to-end Ind AS implementation — from gap assessment and first-time adoption under Ind AS 101 to accounting policies, disclosures and audit-ready financial statements converged with global standards.
Overview
Moving to Indian Accounting Standards is far more than relabelling line items. Fair-value measurement, financial instruments, revenue, leases and consolidation can all shift materially — and the first Ind AS financial statements must reconcile cleanly back to previous GAAP under Ind AS 101.
N D Savla & Associates guides companies in Goa through the full journey — gap analysis, adoption choices, policy design, restatement and disclosures — and trains your team to sustain it. We align the work with IFRS reporting where relevant and with your statutory audit.
What's covered
From assessment to audit-ready statements.
Get started →Confirming whether Ind AS applies and assessing differences from your current accounting.
Opening balance sheet, mandatory exceptions and optional exemptions at the transition date.
Designing Ind AS-compliant policies for revenue, financial instruments, leases and more.
Restating comparatives and reconciling equity and profit from previous GAAP to Ind AS.
Building the disclosure framework and notes required under Ind AS.
Upskilling your finance team to maintain Ind AS reporting going forward.
Our process
Compare current accounting against Ind AS requirements.
Select Ind AS 101 exemptions and accounting policies.
Restate balances and build disclosures with reconciliations.
Equip your team to sustain Ind AS reporting.
Frequently asked questions
Indian Accounting Standards notified under the Companies Act, converged with IFRS. They govern recognition, measurement, presentation and disclosure of financial statements for the companies required to apply them.
Ind AS applies in phases based mainly on net worth and listing status — listed and large unlisted companies above prescribed thresholds, with their holding, subsidiary, associate and JV companies. We assess applicability for your group.
A gap assessment against current accounting, first-time adoption choices under Ind AS 101, restating opening balances, designing policies and disclosures, and preparing the first Ind AS financial statements with comparatives.
Ind AS 101 governs first-time adoption — preparing an opening balance sheet at the transition date, applying Ind AS retrospectively with mandatory exceptions and optional exemptions, and reconciling equity and profit from previous GAAP.
Ind AS is more principles-based and emphasises fair value, substance over form and extensive disclosures. Financial instruments, revenue, leases, business combinations and consolidation often differ significantly, so a structured transition is essential.
It depends on size, transaction complexity and records. Simpler entities can transition in a few weeks; complex groups need longer for gap analysis, policy design and restatement. We agree a clear plan up front.
Yes. Alongside implementation we provide practical training so your team understands the new policies, judgements and disclosures and can sustain Ind AS reporting after transition.
Yes. We support preparation of Ind AS financial statements and coordinate with the statutory audit, ensuring policies, judgements and disclosures are well documented and audit-ready.
Related services
Book a free consultation with a qualified Chartered Accountant in Goa. We'll assess your readiness and plan a clean Ind AS transition — no obligation.