What is the difference between Indian Accounting and International Accounting?

<p>Fundamentally, the difference between Indian accounting and International Accounting <strong>lies in the accounting standards and regulatory frameworks considered by them.</strong><br>Traditionally, Indian Accounting has followed Indian Accounting Standards that are mainly adopted from but not the same as International Financial Reporting Standards.<br>While Ind AS is converged with international standards, some transactions and financial elements are accounted for differently or have different disclosure requirements. International accounting, however, makes use of globally accepted standards like IFRS, therefore ensuring uniformity and comparability of financial statements across geographies.</p>

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