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of <h1>Indian Accounting Standards Introduced for High Net Worth and Listed Companies (2011-2015.</h1> The Companies (Accounting Standards) (Amendment) Rules, 2011, effective from March 3, 2011, to May 18, 2015, introduced Indian Accounting Standards (Ind AS) for specific classes of companies. The amendments to the Companies (Accounting Standards) Rules, 2006, include the introduction of Ind AS for companies listed on NSE Nifty 50, BSE Sensex 30, companies listed on foreign exchanges, and those with a net worth exceeding Rs. 500 crores. The rules outline the application of different accounting standards, including Ind AS 2 for inventories and Ind AS 7 for cash flows, among others. These standards prescribe the accounting treatment and disclosure requirements for various financial transactions and conditions.
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