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Kapileshwar Bhalla

Latest Posts by Kapileshwar Bhalla

Impact of COVID 19 on Ind AS Financial Statements

April 1, 2020 3945 Views 0 comment Print

1. Management of the entity should assess the impact of COVID-19 and the measures taken on its ability to continue as a going concern. 2. The impact of COVID- 19 after the reporting date should also be considered and if, management after the reporting date either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so, the financial statements should not be prepared on going concern basis.

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