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IND AS Implementation

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ICAI Registered · Mumbai's Trusted CA Firm · 15+ Years

Transition to IND AS With Confidence — and Without Surprises

IND AS changes how your numbers are measured, not just how they're reported. We handle the full transition — diagnostic, conversion, policies, and disclosures — and deliver audit-ready financials your auditors and stakeholders can rely on.

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Our IND AS Service at a Glance

15+Years of financial reporting expertise
6Core IND AS implementation service lines
100%Audit-ready IND AS financial statements
8+Industries served across Mumbai & pan-India
15+ Years of Experience
75+ Team Members
6 IND AS Service Lines
100% Audit-Ready Output

What Is IND AS Implementation

IND AS Changes How Your Numbers Are Measured — Not Just Reported.

Moving to Indian Accounting Standards is far more than a formatting exercise. IND AS — India's IFRS-converged standards — changes the recognition and measurement of transactions: fair value replaces historical cost in key areas, most leases move onto the balance sheet, and revenue and financial instruments follow entirely new models.

Done poorly, a transition means restated comparatives, awkward auditor conversations, and numbers that surprise your board. Done well by PKJN & Associates LLP, it's a controlled project — with the impact quantified up front and every adjustment documented and defensible.

Because IND AS conversions feed directly into your statutory audit, we run the work hand-in-hand with our Audit & Assurance team so the transition is signed off cleanly.

What IND AS Implementation Covers

  • ✔ Assessing whether and when IND AS applies to you
  • ✔ Gap analysis between current GAAP and IND AS
  • ✔ Opening balance sheet & first-time adoption (IND AS 101)
  • ✔ Financial instruments accounting (IND AS 109)
  • ✔ Revenue recognition — five-step model (IND AS 115)
  • ✔ Lease accounting & right-of-use assets (IND AS 116)
  • ✔ IND AS-compliant accounting policies & disclosures
  • ✔ IND AS financial statements with audit support

Our Services

Six Core IND AS Implementation Services

From confirming applicability to signing off audit-ready statements — scoped to your entity's size, group structure, and transaction complexity.

01

Applicability & Diagnostic Assessment

We confirm whether — and from when — IND AS applies to you based on net worth, listing status, and group structure, then run a diagnostic to scope the transition and flag the areas of greatest impact.

Scoping
02

GAAP Differences & Impact Analysis

A line-by-line comparison of your current Accounting Standards against IND AS — identifying every difference and quantifying its impact on profit, net worth, and key ratios before a single entry is passed.

Gap Analysis
03

First-Time Adoption (IND AS 101)

We prepare your opening IND AS balance sheet at the transition date, select the right optional exemptions, apply mandatory exceptions, and build the reconciliations that anchor every future reporting period.

IND AS 101
04

Accounting Policy & Disclosure Framework

We draft a complete set of IND AS-compliant accounting policies and disclosure checklists tailored to your business, so your financial statements meet every presentation and note requirement under the standards.

Policies & Notes
05

Financial Instruments, Revenue & Leases

Hands-on implementation of the highest-impact standards — IND AS 109 (expected credit loss and instrument classification), IND AS 115 (five-step revenue model), and IND AS 116 (right-of-use assets and lease liabilities).

109 · 115 · 116
06

IND AS Financials & Audit Support

We prepare complete IND AS financial statements — standalone and consolidated — with supporting workings, and stand alongside your statutory auditors to resolve queries and get the transition signed off on time.

Reporting & Audit

How We Work

Our Four-Phase IND AS Transition Process

A controlled, milestone-based conversion from first diagnostic to audited IND AS financials — with the impact known before you commit.

1

Diagnostic & Impact Assessment

We confirm applicability, map differences between your current GAAP and IND AS, and quantify the impact on profit and net worth — so there are no surprises later.

2

Policy Design & Transition Planning

We select the transition date, finalise accounting policies and IND AS 101 elections, and agree a clear conversion plan mapped to your reporting timeline.

3

Conversion & Adjustments

We build the opening balance sheet, pass the required adjustment entries, and restate comparatives — each supported by documented, defensible workings.

4

Reporting & Audit Support

We prepare the IND AS financial statements and disclosures and work with your auditors to close out queries and sign off the transition cleanly.

Why Choose PKJN

Technical Depth, Delivered as a Controlled Project

IND AS is where technical accuracy meets practical execution. We don't just tell you the standards — we quantify the impact, pass the entries, prepare the statements, and get them past audit. The theory is only useful if the numbers hold up.

As a Mumbai-based CA firm with 15+ years in audit and financial reporting, we bring deep familiarity with the high-impact standards and how auditors expect them to be applied.

Deep technical expertise

Across the complex standards — 109, 115, 116, 103 and more

Impact quantified up front

You see the effect on profit and net worth before committing

Direct partner access

Senior professionals lead every engagement — not delegated to junior staff

Audit-ready output

Documented, defensible workings built to satisfy your statutory auditors

15+Years of CA Experience in Mumbai
75+Team Members
100%Audit-Ready IND AS Output
8+Industries Served Across India

Industries We Serve

IND AS Expertise Across All Major Sectors

Every transition is tailored to your industry's transactions, accounting judgements, and the standards that hit hardest in your sector.

🏭

Manufacturing

Component accounting, inventory & PP&E measurement under IND AS 16

📦

Trading & Distribution

Revenue timing, rebates & receivables ECL under IND AS 115 & 109

💻

Technology & IT

Multi-element revenue, ESOPs & contract accounting under IND AS 115 & 102

🏗️

Real Estate & Construction

Revenue over time, borrowing costs & project accounting

🏥

Healthcare & Pharma

R&D, intangibles & business-combination accounting under IND AS 38 & 103

💼

Professional Services

Revenue recognition, lease & employee-benefit measurement

🚀

Startups & SMEs

Convertible instruments, ESOPs & investor-ready IND AS reporting

🏦

Financial Services

Expected credit loss, instrument classification & NBFC roadmaps

Related Services

Complete Audit & Compliance Coverage

IND AS implementation works best as part of an integrated assurance strategy. Explore our related services from PKJN & Associates LLP.

Audit & Assurance

Statutory, tax & internal audits conducted with professional diligence and complete documentation.

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Risk Advisory Services

Forward-looking risk identification, internal controls & fraud prevention frameworks for a resilient business.

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Risk Control Matrix (RCM)

Structured documentation of risks, controls & test procedures for ongoing monitoring and governance.

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Concurrent Audit Services

Real-time transaction review and control monitoring — ideal for banks, NBFCs & high-volume businesses.

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FAQs

Common Questions About IND AS Implementation

Answers for CFOs, finance controllers, and management teams planning an IND AS transition in Mumbai.

Still Have Questions?

Our financial reporting team is available for a free initial consultation. No obligation — just clarity on your applicability, impact, and timeline.

Book a Free Call
IND AS (Indian Accounting Standards) are India's accounting standards converged with IFRS, notified by the Ministry of Corporate Affairs. Compared with the older Indian GAAP (Accounting Standards), IND AS changes how transactions are measured and disclosed — placing far greater emphasis on fair value, substance over form, and detailed disclosure. Standards on financial instruments, revenue, and leases in particular can materially change reported profits, assets, and liabilities.
IND AS applies in phases based on net worth and listing status. Broadly, listed companies and unlisted companies above prescribed net-worth thresholds (₹250 crore and above) must apply IND AS, along with their holding, subsidiary, associate, and joint-venture companies. Banks, NBFCs, and insurers follow separate roadmaps. Once adopted, IND AS applies to both standalone and consolidated financials and cannot be reversed. We confirm your exact applicability and effective date before starting.
IND AS 101 governs your first IND AS financial statements. It requires preparing an opening IND AS balance sheet at the transition date, restating comparatives, and applying IND AS retrospectively — with a set of optional exemptions and mandatory exceptions designed to make transition practical. Getting the transition date, elections, and reconciliations right is critical, as they anchor every subsequent period.
For most businesses the highest-impact standards are IND AS 109 (Financial Instruments) with its expected-credit-loss model, IND AS 115 (Revenue) with its five-step recognition model, and IND AS 116 (Leases), which brings most leases onto the balance sheet as right-of-use assets. Others that commonly cause adjustments include IND AS 103 (Business Combinations), IND AS 19 (Employee Benefits), and IND AS 12 (Income Taxes).
It depends on your size, number of subsidiaries, and the complexity of your transactions. A diagnostic and impact assessment typically takes 2–4 weeks. A full first-time conversion for a mid-sized company — opening balance sheet, adjustments, policies, and disclosures — usually takes 8–16 weeks. We agree scope and a timeline aligned to your reporting deadlines upfront.
IND AS adoption can affect book profits and therefore Minimum Alternate Tax (MAT). Section 115JB contains specific adjustments for IND AS companies, including how transition-date adjustments and items routed through Other Comprehensive Income are treated for MAT. The underlying income-tax computation itself continues under the Income Tax Act. We coordinate the accounting and tax impact so there are no surprises at assessment.
Both. We can run the full engagement — diagnostic, gap analysis, transition, adjustment entries, policies, and preparation of IND AS-compliant financial statements — or work alongside your finance team in an advisory and review capacity. We also support your statutory auditors so the transition is signed off smoothly, connecting directly with our Audit & Assurance practice.
Our office is in Andheri East, Mumbai (Suite No.102, L1, Ashok Premises, Nicholas Road — 400069). We serve businesses across Mumbai, Thane, Navi Mumbai, and Pune, with pan-India engagements for audit, assurance, and financial reporting advisory. Call us on +91 98190 00511 or contact us online for a free initial consultation.

Planning Your Move to IND AS?

Speak to our financial reporting team. We'll confirm your applicability, quantify the impact on your numbers, and map a clear transition to audit-ready IND AS financials.

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📍 Suite No.102, Ashok Premises, Nicholas Road, Andheri East, Mumbai — 400069  |  📞 +91 98190 00511

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  • Suit No.102, L1, Ashok Premises, Nicholas Road, Andheri (East), Mumbai – 400069, Maharashtra, India.

Contact

  • +91 98218 32683
  • nainitsavla@savlagroup.in

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