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 : Explore AS 17 Segment Reporting: its scope, definitions of business and geographical segments, allocation methods, and criteria fo...
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...
Consider a situation where RST Limited was a loss making company. Ind ASs were adopted by this company from the year 2016-17. Since FY 2014-15 it has started to profits it was having accumulated MAT credit of Rs. xyz crores lying in the books of accounts as on 31.03.2019.
Get an insight into Ind AS 116 Leases and its impact on certain companies. Understand the changes and their effect on the new financial year.
Understand the accounting and reporting requirements for the primary sector with Ind AS 41 Agriculture. Learn about the fair value model and its implications.
Background, Ind AS-116 Leases brings significant changes in accounting requirements for lease accounting, mainly for lessees. The new standard replaces the existing standard i.e. Ind AS-17, Leases with effect from accounting periods beginning on or after 1 April 2019. The new standard requires lessees to recognise “Right-of-use assets” and “Lease Liability” in balance sheet and […]
Why Actuarial Valuation Services are needed by Indian and Multinational Companies for Accounting of Defined Benefit Plans (i.e. Gratuity, Leave Encashment, Long Service Award Plan, etc.) in compliance of AS 15 (Revised 2005) & Ind AS 19? I hope the below email may help you in understanding the requirement of Actuarial Valuation Services by Indian […]
Ind AS 8 – Accounting Policies, Changes in Accounting Estimates, and Errors 1. Accounting policies are the specific principles and procedures implemented by a company’s management team that are used to prepare its financial statements. These include any accounting methods, measurement systems, and procedures for presenting disclosures. Example: – Valuation of inventory using FIFO, Average Cost […]
In today’s time, neither Goods and Services Tax (‘GST’) nor accounting under IND AS is novel and though most of the principles under both the concepts are aligned but still there are notable differences. The said differences if not understood and addressed properly will lead to uninvited litigations
Recent amendment in IFRS 16 and exposure draft (Proposed amendment) on Ind AS 116 – Leases for accounting of rent concession due to Covid-19 The pandemics of coronavirus, or COVID-19 has been here for a while and after the first shock of its quick spread and effect on people’s health, we are all seeing its […]
Understand the proposed changes in IND AS 116 and the challenges ahead. Learn about the impact of COVID-19 on lease arrangements and financial reporting standards.
Indian Accounting Standard (Ind AS) 115 Revenue from Contracts with Customers# (The Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1. The objective of this Standard is to establish the principles that an entity shall apply to report […]
