Company Law : The article explains that under the Companies Act, direct shareholding determines associate company status. Ind AS 28, however, tr...
Income Tax : This guide explains all ten Income Computation and Disclosure Standards (ICDS) and provides reconciliation formats between Account...
Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
Company Law : The article argues that Compulsorily Convertible Debentures qualify as financial liabilities under Ind AS 32. It explains why cert...
Finance : The case clarifies that reducing shareholding below the threshold mandates discontinuation of the equity method. The retained stak...
Corporate Law : IRDAI approved implementation of Ind AS for all insurers from 1 April 2026 with transitional arrangements and limited forbearance....
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...
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 : The IRDAI issued a circular providing clarifications on the implementation of Indian Accounting Standards (Ind AS) by insurers eff...
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 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...
Understand the IND AS-36 standards on Impairment of Assets. Learn about the analysis and testing required at the end of each reporting period.
Since Indian entities preparing Ind AS based financial statements were facing similar challenges and situations like the International scenario and to remain converged with IFRS standards, amendments to Ind AS 116, corresponding to aforesaid amendments issued by IASB, as recommended by ICAI and examined and recommended by NFRA, were notified by the MCA on July 24, 2020.
Ind AS 105 prescribes the accounting treatment for non-current assets held for sale and, and the presentation and disclosure of discontinued operations. It sets out the criteria for classification of a non-current asset (or disposal groups) as held for sale and discontinued operations.
Following is the Exposure Draft of the Amendments to Annual Improvements to Ind AS (2021) issued by the Accounting Standards Board (the Board) of the Institute of Chartered Accountants of India for comments.
Following is the Exposure Draft of the Amendments to Ind AS 103, Business Combinations, issued by the Accounting Standards Board (the Board) of the Institute of Chartered Accountants of India for comments.
Following is the Exposure Draft of proposed Amendments to Ind AS 16, Property, Plant and Equipments, issued by the Accounting Standards Board (the Board) of the Institute of Chartered Accountants of India for comments.
Following is the Exposure Draft of the proposed Amendments to Ind AS 37, Provisions, Contingent Liabilities and Contingent Assets, issued by the Accounting Standards Board (the Board) of the Institute of Chartered Accountants of India for comments.
Ind AS 23 prescribes the accounting treatment for recognising the borrowing costs incurred by entities. It sets out the criteria for capitalising the borrowing costs or for charging the borrowing costs as expense to the statement of profit and loss.
Understand the key differences between Ind AS 8 and AS 5 regarding errors and prior period items in financial statements.
Learn about compound financial instruments and their role in accounting standards. Discover how they are classified and the impact they have on financial reporting.
