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Economy News

The Economic Times

Economy / The Economic Times

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Ind AS 118: India Inc gears up for big changes to financial reporting

Indias largest companies are preparing for the implementation of Ind AS 118, which may impact financial reporting. Changes include new classifications for income and expenses, and new operating profit reporting methods. Companies face challenges due to complex requirements and the need for system adjustments. Audit committees are discussing transition plans while awaiting final rules and guidance from regulatory bodies.

26 Oct 2026 1:38 am