The article discusses how India switched its accounting standards to match the global norm (IFRS). They created Ind AS to align with IFRS. The research looks at the effects of this change on important accounting areas. It explains that Indian companies now follow Ind AS for financial reporting. The study examines how this transition will happen in stages and explores how it impacts specific accounting aspects. India is adapting to global accounting practices through Ind AS, aiming to sync its financial reporting rules with international standards.