CA, CS, CMA : Understand deferred tax on security deposits under IND AS 12, balancing DTL on ROU assets and DTA on discounted deposits for accur...
CA, CS, CMA : Discover a comprehensive FAQ on Ind AS 115, covering revenue recognition principles, key concepts, and implementation challenges. ...
CA, CS, CMA : Detailed Analysis of Differences Between Indian Accounting Standards (Ind AS) and International Financial Reporting Standards (IFR...
CA, CS, CMA : Understand AS 13 Accounting for Investments: Learn about investment types, properties, carrying amounts, reclassification, and ess...
CA, CS, CMA : Discover the complexities of treating goodwill under Ind AS, covering its recognition, measurement, impairment, and allocation pri...
CA, CS, CMA : Stay updated on Indian Accounting Standards (Ind AS) amendments. Accounting Standards Board seeks your input on Lack of Exchangeab...
CA, CS, CMA : Accounting Standards Board has issued Exposure Draft of Supplier Finance Arrangements - Amendments to Ind AS 7 and Ind AS 107 co...
CA, CS, CMA : Accounting Standards Board has issued Exposure Draft of International Tax Reform—Pillar Two Model Rules - Amendments to Ind AS 1...
Corporate Law : The National Financial Reporting Authority (NFRA) held a meeting to examine the proposals received from the Institute of Chartered...
CA, CS, CMA : Certain Ind AS require capital reserve to be created toward unrealised profits arising from certain transactions or other events. ...
Income Tax : Treatment as per Income Tax Act and Indian Accounting Standard in case of Slump sale / Sale of Division/ sale of undertaking betwe...
Company Law : NFRA's investigations inter-alia revealed that CDGL's Auditors for FY 2018-19 failed to meet relevant requirements of Standards on...
Company Law : MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 31st March, 2023 G.S.R. 242(E). — In exercise of the powers conferred ...
Company Law : NFRA Circular on Non-Accrual of interest on borrowings by the companies in violation of Indian Accounting Standards (Ind AS) It ha...
Corporate Law : The Authority has been working on implementation of Ind AS in Insurance sector including new standard on insurance contracts in In...
SEBI : SEBI vide notification dated January 25, 2022 amended SEBI (Mutual Funds) Regulations, 1996 (MF Regulations), which, inter-alia, m...
In this article, we will have insight over the applicable provisions of certain most common sections (yet vital) of the Companies Act 2013, which we come through day in and day out during Audit and Assurance assignments. CARO 2020 CARO 2020 is applicable to all companies including foreign companies w.e.f 1st April 2021. Following are […]
IASB document issued for comments: Initial Application of IFRS 17 and IFRS 9 – Comparative Information Proposed amendment to IFRS 17 Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by the International Accounting Standards Board (IASB) of IFRS Foundation. The IASB, before issuing the new/amendments to IFRS Standards, issues consultative documents […]
Each Accounting Standard offers wide variety of practical applications to the stakeholders in respect of full disclosure and transparency. Therefore, I hereby try to summarize various dimensions with regard to the Accounting Standard related with Ind As-23 : Borrowing Costs (By incorporating Changes as per Companies (Indian Accounting Standards) Amendments Rules 2021) . 1. The relevant Accounting Standards […]
The Exposure Draft of Amendments to Ind AS 1 requires companies to disclose their ‘material accounting policy information’ rather than their ‘significant accounting policies’. To assist an entity in determining whether accounting policy information is material to its financial statements amendments are proposed to Ind AS 1.
Disclosures Checklist of Indian Accounting Standards (Ind AS) 1 Ind AS 1, Presentation of Financial Statements S. No. Paragraph Reference Disclosure Yes No NA 1. 1.16 When financial statements comply with Ind AS, disclosure by way of an explicit and unreserved statement of such compliance in the notes. 2. 1.17(c) Additional disclosures when compliance with the […]
Accounting standards have been developed in India over time. It is also called Ind As. Such standards need to be adopted by various corporate form and NBFCs in India under the supervision of the Accounting Standards Board (ASB). The Accounting Standards Board was established in 1977 as a regulator and body. ASB is a professional […]
In view of implementation of Ind AS 116, ‘Leases ’applicable from the financial year 2019-20, and amendments in other Ind ASs, CSR Rules etc (applicable from FY 2019-20 & 2020-21), Ind AS XBRL taxonomy has been amended for financial reporting purposes.
As you are kindly aware that the Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by the International Accounting Standards Board (IASB). In this regard, it may be noted that IFRS Standards are being issued/revised by the IASB from time to time.
Article contains Easy Analysis of Differences Between Ind AS-103 and AS-14 and Carve-Out, Carve-In in Ind AS-103 from IFRS-3. It explains Significant differences between Ind AS-103 and AS-14 and Carve-Out in Ind AS-103 from IFRS-3. 1- Introduction There is no single Accounting standard which addresses accounting treatments and disclosures where one entity obtains control of […]
Understand the IND AS-36 standards on Impairment of Assets. Learn about the analysis and testing required at the end of each reporting period.
