Ind AS and IFRS Conversion and Transition Support — Assessed. Converted. Disclosed.
Transition from existing accounting standards to Ind AS or IFRS, including gap analysis, opening balance sheet, policy manuals and first-time adoption disclosures.
Book Free ConsultationA conversion is not a restatement exercise done once. It changes how the business measures revenue, leases, financial instruments and impairment on an ongoing basis, and the accounting policies adopted at transition govern the reporting for every year afterwards.
At N D Savla & Associates, we take companies in Nashik and across Maharashtra through conversion — identifying the differences that matter to their particular contracts, preparing the opening balance sheet, and documenting the policies behind each choice.
The exemptions available on first-time adoption are where most of the value sits. They are elective, they apply once, and the choices made are difficult to revisit later, so they are evaluated deliberately rather than defaulted.
Our Conversion Services
Gap Analysis
Identification of the differences between current reporting and the new framework.
Transition Planning
A phased plan covering the transition date, comparatives and first reporting period.
Opening Balance Sheet
Preparation of the opening balance sheet at the date of transition.
Accounting Policy Manual
Drafting of policies for each significant area under the new framework.
Revenue and Lease Analysis
Assessment of contracts under the revenue and lease standards.
Financial Instruments
Classification, measurement and impairment of financial assets and liabilities.
Disclosure Preparation
Preparation of the notes and first-time adoption reconciliations.
Team Training
Training the finance team to apply the framework after the transition.
Our Conversion Process
Scoping and Diagnostic
The applicable framework, transition date and affected areas are established.
Gap Analysis
Each significant balance and transaction stream is tested against the new standards.
Policy and Exemption Choices
Policies are drafted and first-time adoption exemptions are evaluated and elected.
Restatement
The opening balance sheet and comparative period are restated with reconciliations.
Reporting and Handover
Disclosures are prepared and the finance team is trained to continue reporting.
Why It Matters
Frequently Asked Questions
Facing a transition to Ind AS or IFRS?
Share your last audited accounts — we’ll identify where the differences will actually arise.
