"Tasnim Alihusain Tankiwala qualified as a Chartered Accountant in the year 2000. She went onto complete her Diploma in Insurance and Risk Management (DIRM) in 2009 with top honors of an All India Rank (AIR) 2. In 2010 she secured her Diploma in Information System Audit (DISA) with top honors of an AIR 3. She has a diversified experience portfolio ranging over 19 years in the profession of Chartered Accountancy. Previously as a partner and Chartered Accountant in practice, She has specialized in the fields of Direct Domestic Taxation, Statutory Audit and Assurance services. She has worked under dynamic roles and responsibilities as a statutory auditor, audit support function, Designing and Testing of Financial controls, Group Reporting, etc. Her deep interest in Audit and Assurance Services has led her to add value with respect to process improvements in the fields of power, fashion, manufacturing, services, insurance and reinsurance brokers, reinsurance, optometry, e-commerce, liaison office, project office, non banking finance companies, asset management companies, etc. Pro-efficient with both IFRS and Ind AS, She has overseen unstructured assignments such as GAAP conversion and transition to Ind AS for phase 1 and 2 companies. More recently she has provided advisory services in the upcoming sphere of GST to Manufacturing Entities. She has been contributing to various journals in the profession with her articles and research papers and also conducted numerous trainings in the field of Corporate Laws and Ind AS for both large Private Organizations and Listed PSUs. She has also been a faculty with Mumbai University’s leading college for the Bachelor of Commerce Course. Her patience and immense knowledge make her a mentor and source of inspiration to all across the firm. "
Learn how to calculate provision for doubtful debts under Ind AS 109. Ensure accurate recognition of bad debts for trade receivables.
In most cases when a company acquires certain types of long-term assets, it has an obligation to remove these assets after the end of their useful lives and restore the site. Most of these long term assets are constructed on leased land or premises, thus obligating the user to return it in the original condition at the end of the agreed term.
Earnings per share (‘EPS’), as the name suggests comprises of two factors: 1. The net profit or loss for the year/period attributable to the ordinary shareholders, and 2. The weighted average number of ordinary shares outstanding during the year/period. While the first component of EPS is easy to determine, the second may pose various challenges […]
Ind AS 116- Leases, is effective from annual period beginning on or after 1 April 2019. Ind AS 116 Supersedes Ind AS 17 – Leases from the date of its applicability. Under Ind AS 17, lease rentals under an operating lease were recognised as an expense/income on a straight line basis over the lease term […]
A sale and leaseback transaction is one where an entity (the seller-lessee) transfers an asset to another entity (the buyer-lessor) for consideration and leases that asset back from the buyer-lessor. Ind AS 116 makes significant changes to sale and leaseback accounting.
The assessment of whether a contract is or contains a lease is the biggest practical issue while applying Ind AS 116. This assessment is required right at the inception of the contract. In most of the cases, the assessment is likely to be straightforward and contracts which are classified as lease contracts under Ind AS 17 are likely to continue as lease contracts under Ind AS 116 as well.
