Indian GAAP definition

Indian GAAP means the generally accepted accounting practices as applicable in India;

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Indian GAAP means generally accepted accounting principles applicable in India, as promulgated (i) by the Indian Institute of Chartered Accountants, and (ii) under the (Indian) Companies Act, 1956.

Indian GAAP means the generally accepted accounting principles applicable in India; “Indian Rupees” or “Rs.” or “INR” means the lawful currency of the Republic of India;

Examples of Indian GAAP in a sentence

• The accounting controls of the Company have been and are sufficient to provide reasonable assurances that (a) all transactions are executed in accordance with the Board’s general or specific authorisation, and (b) all transactions are recorded as necessary to permit the accurate preparation of financial statements in accordance with Indian GAAP and to maintain proper accountability for such items.

• The Company has established and maintains, adheres to and enforces a system of internal accounting controls that are effective in providing assurance regarding the reliability, completeness and accuracy of financial reporting and the preparation of financial statements in accordance with Indian GAAP (including the Financial Statements).

• Ind AS would replace the existing Indian GAAP prescribed under section 133 of The Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules,2014.

• The Financial Statements have been prepared in accordance with Indian GAAP applied on a consistent basis throughout the periods indicated.

• The Financial Statements fairly present the financial condition, operating results and cash flows of the Company, as of the respective dates and for the respective periods indicated, in accordance with Indian GAAP.

More Definitions of Indian GAAP

Indian GAAP means generally accepted accounting principles in India, consistently applied.

Indian GAAP means generally accepted accounting standards in India, applicable to the Company.

Indian GAAP means the generally accepted accounting principles applicable in India, consistently applied throughout the specified period;

Indian GAAP means and refers to the generally accepted accounting principles as applicable in India, including inter alia accounting standards and other authoritative pronouncements, issued by the Institute of Chartered Accountants of India, or such other body or person having a right under Applicable Laws to issue such accounting standards and other authoritative pronouncements;

Indian GAAP means generally accepted accounting principles in the Republic of India consistently applied;

Indian GAAP means generally accepted accounting principles that are applicable in India, consistently applied throughout the specified period and in the comparable period in the immediately preceding Financial Year;

Indian GAAP means generally accepted Indian accounting principles in effect from time to time and consistently applied.