accounting standard kaha use hota hai and ind as kaha use hota hai dono me difference kya hai please explain in easy sentence or language

Accounting Standards (AS) are the standards issued by ICAI, while, International Financial Reporting Standards (IFRS) are the standards issued by International Accounting Standards Board (IASB). India being a member Country of IASB has to adhere to IFRS. However, instead of blindly adopting IFRS, India has decided to converge its accounting standards with IFRS. Convergence with IFRS simply implies that India will not adopt IFRS as is issued by IASB instead it would try to get its own accounting standards synced with IFRS. These synced Accounting Standards are known as Ind-AS. The basic rationale behind this convergence is that India being a developing economy has accounting needs which are very different from that of the developed economies.

Uses of Accounting Standards or IFRS

Accounting standards serve the following utility:

1. They provide a standardized format which is to be followed while preparation of accounts. This reduces the variation in the methods followed.
2. Accounting standards provide the basic rules on the basis of which financial statements are prepared.
3. They make it compulsory for the companies to make a disclosure of the accounting policies followed while preparation of financial statements.
4. When a company complies with the accounting standards while preparation of financial statements. This give a sense of confidence among the users of financial statements.

They help the auditors in auditing the books of accounts.