CA, CS, CMA : Geopolitical tensions are forcing reassessment of ECL assumptions under IFRS 9. The key takeaway is that forward-looking risk adju...
Goods and Services Tax : Comparison of GST composite and mixed supply with IFRS 15 bundled performance obligations, focusing on tax rate determination and ...
CA, CS, CMA : Summarises how WIP is recognised and measured under Ind AS 115/IFRS 15, emphasising cost tracking, progress measurement, and discl...
CA, CS, CMA : Introduction The International Accounting Standards Board (IASB) has taken a significant leap towards enhancing transparency and c...
CA, CS, CMA : Explore how Ind AS 113 and IFRS 13 guide fair value using market-based and income-based valuation approaches with key differences ...
Corporate Law : Explore proposed amendments to IAS 32, IFRS 7, and IAS 1 in the Exposure Draft by IASB. Learn how the changes address challenges i...
CA, CS, CMA : Exposure Draft on Amendments to the Classification and Measurement of Financial Instruments (Proposed amendments to IFRS 9 and IFR...
CA, CS, CMA : To contribute to standard setting at international level, Exposure Draft of third edition of IFRS for SMEs Accounting Standard is...
CA, CS, CMA : Staff draft of IFRS Sustainability Disclosure Taxonomy is issued by the IFRS Foundation for the public views. This draft sets out ...
CA, CS, CMA : IFRS Foundation document issued for comments: IFRS Taxonomy 2021-Proposed Update 3 Initial Application of IFRS 17 and IFRS 9-Compa...
Corporate Law : Implementation of Ind AS in the Insurance Sector in India has been deferred for a period of two years and the same shall now be im...
Company Law : In the meeting held on 29th March, 2010, the Core Group deliberated and approved the Roadmap recommended by Sub-Group I in respec...
Company Law : The Press Information Officer, Press Information Bureau, Ministry of Information and Broadcasting, with the request that the above...
When an acquisition of a business is being made and the consideration for such business to include some portion of amount which is NOT certainly determinable and depending upon some future event/s to be met and accordingly an expectation is required to be built to calculate that uncertain portion called Contingent consideration.
I have informed in my earlier article published on 30th August, 2016 titled ‘IFRS convergence to Ind AS – Banking scene’ that banks would submit on Sept 30,2016, Proforma Ind AS financial statements in terms of RBI guidelines dated June 23, 2016, to RBI.
Lets understand a situation where its franchisor i.e. Domino’s USA takes over or bought the business of Domino’s India under Business combination. Now, questions which will be arisen related to this existing franchise agreement are-
Cost of temporary occupation of land, successful exploratory wells. all development wells, depreciation on related equipment. facilities and estimated Future abandonment costs are capitalised and reflected as Oil & Gas Assets.
We all must have read about Jubilant Food i.e. Domino’s pizza which is essentially under a franchise agreement with Domino’s pizza USA (as per its annual report). Current accounting practices in India does not have any specific guidance on such franchise agreements in relation to its accounting specifically
It is a common debate among accounting professionals that Partnership firms in U.S.A. would solve all the problems and that they would recommend their clients to have the same structure for business.
There are many instances where an entity distributes its assets e.g. Property, plant & equipments or unit of its business i.e. in a form of Demerging an entity or distributing an ownership interest in an entity (may be subsidiary) by way of dividend to its existing shareholders.
Silo is relatively new term for many of us. Dictionary meaning of the same is “something which is in isolation”. As the meaning suggest, there are many instances where an entity is operating in a way where its certain/ specified assets & liabilities are being controlled by some other entity in-spite of running overall separate legal entity.
As per the current accounting system in India, there is no specific treatment defined for any kind of security deposits which are being taken/ given in normal course of business by an entity and all such deposits that are refundable shown at their respective transaction values.
There would be many instances where a long term commodity purchase or sale agreement are being entered between the parties where there is a quantity to be delivered which is mentioned in the contract and it gives certain flexibility to avoid (if required) taking agreed quantity by paying cash (adjustment of movement in commodity values together with some penalty if any).
