Accounting standards, IFRS, IAS, GAAP, IND AS, IFRS vs US GAAP vs IND AS

In this video, on IFRS vs US GAAP vs IND AS, we are going to see the definitions and differences between IFRS vs US GAAP vs IND AS.

What is IASB, FASB?
What is IFRS, Ind AS and US GAAP?

IASB stands for International Accounting Standard Board
FASB stands for Financial Accounting standard board.

GAAP stands for Generally accepted accounting principles. So, GAAP refers to a common set of accounting standards, principles, and procedures which are issued by Financial Accounting Standards Board (FASB).
GAAP is wider term and it generally includes

IFRS – International Financial Reporting Statements
IAS – International Accounting Standards
AS – Accounting Standards
Ind AS – Indian Accounting Standards

Accounting Standards refers to a common set of accounting standards, principles, and procedures which are used by all companies in a country for preparation and disclosure of there financial statements.
In other words, this are set of rules to be followed while preparing financial statements.

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[parthibanm]

Thank you so much sir great information🙏 pls kindly uploade the video related to, this still i want more information about the standard.

[sachinbainsla]

Thank you so much for this information

[NaveenSingh-icfe]

Thank you so much for this information

[jjain]

Good informational video. Please also made video on Ind AS detailed

[bakisudhakar]

IFRS stand for international financial reporting standards
But you mentioned statements

[ujjwalchakraborty]

Amazingly explained...thanks a lot sir for giving such valuable information ❤️❤️🇮🇳🇮🇳

[brijbhushanmishra]

IFRS was introduced in 2001 I guess.
And IASC made IAS
IASB made revised version and development IFRS.(10 principles in the beginning then 16 now)
🙄🙄 according to my teacher .