What is the Difference between AS 4 and Ind - AS 10?
Dear Rohit, Difference B/w IND AS 10 AS 4 1 Material non-adjusting events are required to be disclosed in the financial statements. while AS-4 Requires the same to be disclosed in the report of approving authority 2 Dividend proposed or declared after the reporting period, can not be recognised as a liability in the financial statements because it dose not meet the criteria of a present obligation as per Ind AS 37. Such dividend is required to be disclosed in the notes in the financial statements as per Ind AS 1, while in AS-4 the same is required to be adjusted in financial statements. 3 If after the reporting date, it is determined that the fundamental accounting assumption of going concern is no longer appropriate, Ind AS 10 requires a fundamental change in the basis of accounting. while AS-4 Requires assets and liabilities to be adjusted for events occurring after the balance sheet date that indicate that the fundamental accounting assumption of going concern is not appropriate. Any other Query feel free to contact us.