Ind AS involve application of several new and complex concepts, which require a significant level of judgement and estimation, accompanied by detailed qualitative and quantitative disclosures.

This publication is intended to help preparers in the preparation and presentation of consolidated financial statements in accordance with Indian Accounting Standards (Ind AS) and Schedule III to the Companies Act, 2013 by illustrating a format for consolidated financial statements for a hypothetical multinational company involved in general business. This company (‘Classic Company (India) Limited’) issues its financial statements under Ind AS.

The publication is expected to assist in preparation of consolidated financial statements under Ind AS for the year ended 31 March 2024.