Indian Accounting Standards (Ind AS) apply to listed companies, unlisted companies meeting prescribed net worth thresholds, and certain other entities. Nilesh Desai & Co. provides end-to-end Ind AS implementation and ongoing reporting support — from first-time adoption under Ind AS 101 through complex areas such as revenue, financial instruments, business combinations, and consolidation.
Partners and senior staff have certification and practical experience in Ind AS, IFRS, and US GAAP reporting for Indian corporates and subsidiaries of multinational groups. The firm works alongside statutory auditors to ensure estimates, fair values, and disclosures are supportable and audit-ready.
Ind AS Transition And First-Time Adoption
- Readiness assessment: applicability, timeline, resource planning, and steering committee support
- Gap analysis between previous Indian GAAP and Ind AS with quantified P&L and balance sheet impacts
- Opening Ind AS balance sheet, exemptions under Ind AS 101, and reconciliation disclosures
- Accounting policy manual, chart of accounts mapping, and ERP / Tally configuration guidance
- Training for finance teams on new policies and month-end close processes
Ongoing Ind AS Reporting
- Ind AS 115 — revenue recognition, contract costs, and principal vs agent analysis
- Ind AS 109 / 32 — classification and measurement of financial assets and liabilities, impairment (ECL), hedge accounting
- Ind AS 103 / 110 — business combinations, goodwill, consolidation, and joint arrangements
- Ind AS 116 — leases for lessees and lessors
- Employee benefits, share-based payments, income taxes (Ind AS 12), and related-party disclosures
- XBRL tagging and note preparation for MCA and stock exchange filings
IFRS And US GAAP Support
- Conversion of Indian GAAP or Ind AS financials to IFRS or US GAAP for group reporting
- Reporting packages, bridge reconciliations, and consolidation adjustments for overseas parents
- Due diligence, carve-out, and pro forma financial information for M&A transactions
- Coordination with group auditors, legal counsel, and investment bankers on information requests
What Nilesh Desai &Amp; Co. Provides
Structured project plans with milestones for board and audit committee approval. Deliverables include policy documents, working papers for significant estimates, disclosure checklists, and support during statutory audit and regulatory review. The firm does not express an audit opinion on implementation assignments unless appointed as statutory auditor.
This page describes professional services permitted to chartered accountants in practice. It is not intended as solicitation of work.