CA, CS, CMA : The article explains that accounting treatment differs significantly between standalone and consolidated financial statements. It ...
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 : This case examines whether borrowing costs should be capitalised using full-year borrowings or only those during the eligible peri...
Corporate Law : New Wage Code reshapes wages base, triggering Ind AS 19 remeasurement. Expect past service cost hits, exceptional items, higher DB...
CA, CS, CMA : Provides a clear overview of how Ind AS 36 applies to investments in subsidiaries, associates, and joint ventures, including key i...
Corporate Law : IRDAI is moving towards adopting Ind AS to standardize financial reporting across insurers. The framework aims to improve transpar...
Corporate Law : Stakeholders sought deferment or phased implementation of Ind AS. IRDAI mandated adoption from April 2026 with limited forbearance...
Corporate Law : The issue was lack of uniformity in financial reporting across insurers. IRDAI mandated Ind AS-based reporting to enhance comparab...
Company Law : NFRA highlights auditor responsibilities in related party transactions, emphasizing compliance with Ind AS 24, SEBI regulations, a...
Company Law : Overview of NFRA's interaction series focusing on auditor-audit committee communications, covering deferred tax assets, liabilitie...
Income Tax : Tribunal held that GST-based turnover differences cannot be taxed again when income was already recorded in prior years and notion...
Income Tax : Delhi ITAT sets aside PCIT's revisionary order concerning depreciation on goodwill for AY 2016-17, citing incorrect application of...
Income Tax : Treatment as per Income Tax Act and Indian Accounting Standard in case of Slump sale / Sale of Division/ sale of undertaking betwe...
Corporate Law : IRDAI constituted a Joint Expert Group to tackle transition and implementation issues under Ind AS. The group will guide insurers ...
Corporate Law : The IRDAI issued a circular providing clarifications on the implementation of Indian Accounting Standards (Ind AS) by insurers eff...
Corporate Law : The regulation introduces mandatory adoption of Ind AS for insurers, setting standardized formats, disclosures, and governance nor...
Corporate Law : IRDAIs consultation paper proposes a new regulatory framework requiring insurers to adopt Ind AS. The initiative is designed to mo...
Company Law : The Ministry of Corporate Affairs has amended the Companies (Indian Accounting Standards) Rules, 2015, impacting financial reporti...
Objective of standard 109- Financial Instruments is to establish principles for the financial reporting of financial assets and financial liabilities that will present relevant and useful information to users of financial statements for their assessment of the amounts, timing and uncertainty of an entity’s future cash flows.
Exposure Draft – Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants – Amendments to Ind AS 1
Exposure Draft of Amendments to Ind AS 116, Leases, issued by Accounting Standards Board of Institute of Chartered Accountants of India
IND AS 109 – Financial Instruments. This ICAI standard covers a wide range of financial instruments, including loans, bonds, equity, derivatives, and more. Learn more about this accounting framework here.
Indian Accounting Standard (IND AS) 115, ‘Revenue from Contracts with Customers’, is a principle-based standard that provides guidance on how to account for revenue arising from contracts with customers
Accounting Standards Board has issued the following Exposure Drafts for public comments with the last date of comments being January 30, 2023: Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants – Amendments to Ind AS 1, Presentation of Financial Statements and Lease Liability in a Sale and Leaseback – Amendments to Ind AS 116, Leases
Get a quick overview of IND AS 109 – Financial Instrument with definitions, initial recognition, subsequent recognition, classification, and hedge accounting.
Learn the intricacies of IND AS 16 – Capitalization of Plant & Depreciation. Understand recognition criteria, elements of cost, and depreciation component-wise. Practical examples guide you through proper allocation and accounting practices. Need assistance? Contact us for expert advice.
Explore the quick walk-through of IND AS 115 – Revenue Recognition. Learn the critical steps, including identifying contracts, performance obligations, measuring progress, and allocating transaction prices.
Uncover the intricacies of Impairment Loss in accounting through Ind AS 36. Delve into the objective of the standard, ensuring assets are valued appropriately. Explore how tangible and intangible assets face degradation over time and the significance of recording this in financial statements. Understand the factors contributing to impairment, such as technological changes or disposals.
