Accounting standards

Accountancy

Wt is meant by carve out and carve it ??

anusha athikamsetty

CA Inter

★ 65

10-May-21 11:18

702

Answers (1)

Best Answer

There are certain changes in Ind AS in connection with economic environment of the country and the economic environment presumed by the existence of IFRS. These are mainly due to differences in economic conditions prevailing in India. When these differences are in deviation to the accounting policies and practices stated in IFRS its said to be 'Carve-outs'. Additional guidance given in Ind AS over and above given in IFRS is known as 'Carve-in'

Swetha S

CA Inter

★ 15K+

10-May-21 11:41