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 : Explore AS 17 Segment Reporting: its scope, definitions of business and geographical segments, allocation methods, and criteria fo...
CA, CS, CMA : Understand Accounting Standard 10 (AS 10) for "Property Plant and Equipment" covering recognition, measurement, valuation, depreci...
CA, CS, CMA : Understand AS 2 and its guidelines for inventory valuation. Learn about costs, net realizable value, exclusions, and comparisons w...
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 of Amendments to Ind AS 116, Leases, issued by Accounting Standards Board of Institute of Chartered Accountants of ...
CA, CS, CMA : ICAI has released Compendium of Indian Accounting Standards (Ind AS) (as on April 01, 2022) along with e-version of related guidan...
CA, CS, CMA : This is the third edition of our earlier issued publication which contains an overview of various aspects related to IFRS-converge...
CA, CS, CMA : IAS 1 Presentation of Financial Statements requires that, for an entity to classify a liability as non-current, the entity must ha...
CA, CS, CMA : Since offences pertaining to the non-disclosure of the documents which were required under Indian Accounting Standards (IndAS) all...
Income Tax : As per AS-7 when the cost of contract is likely to be exceed the contract revenue then the loss incurred on the contract should be...
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...
Company Law : MCA notifies Companies (Indian Accounting Standards) Amendment Rules, 2022 vide Notification No. G.S.R 255(E) Dated: 23rd March, 2...
Company Law : MCA has notified Companies (Accounting Standards) Rules, 2021 on 23rd June, 2021. vide this notification has amended definition of...
Company Law : (1) These rules may be called the Companies (Indian Accounting Standards) Amendment Rules, 2021. (2) They shall come into force on...
ICAI GUIDANCE NOTE ON DIVISION I-NON IND AS SCHEDULE III TO THE COMPANIES ACT, 2013 (Revised July 2019 Edition) The Division I to the Schedule III of the Companies Act, 2013 lays down the format for preparation of the financial statements by the Companies that are required to comply with Companies (Accounting Standards), Rules, 2006, […]
Paragraph 5.7.1 of Ind AS 109 requires a gain or loss on a financial asset that is measured at fair value to be recognised in profit or loss – though there are some exceptions to this general requirement, these are not applicable in the case under discussion.
Discover the significance of AS – 9 and IND AS – 18 in accounting standards. Learn how these standards impact financial reporting globally.
Learn about the importance of Ind AS 116 and why it is a game-changer for businesses. Find out why leasing assets can be beneficial for your organization.
Ind AS 116 digest – 1. A brief Introduction A New Era of Accounting for Lease contracts by Lessees 🍎 Applicability – (para 3) This standard is applicable for all lease contracts unless otherwise exempted or covered specifically in another Ind AS This standard is not applicable on following type of leases – a. leases to explore […]
This publication presents a checklist of disclosures requirements under Ind AS applicable to entities preparing its financial statements voluntarily and mandatorily beginning on or after April 1, 2016, in accordance with Ind AS. The disclosures checklist is based on the Indian Accounting Standards (Ind AS) that are effective as on April 01, 2018, and includes disclosures required under Ind AS 115, Revenue from Contracts with Customers, a standard issued recently. This publication is for guidance purposes and should be read in conjunction with the relevant Ind AS and should not be considered as an alternative from studying the Ind AS.
We are pleased to share that the Accounting Standards Board (the Board/ ASB) of Institute of Chartered Accountants of Indian (ICAI) has released e-version of Compendium of Indian Accounting Standards (Ind AS). As you are aware the Ind AS recommended by the ICAI, are prescribed by the Central Government, under Section 133 of the Companies […]
Issue 1: Entity A is required to apply Ind ASs in preparing its financial statements for periods beginning on or after April 1, 2018. Thus, the date of Entity A’s transition to Ind ASs is April 1, 2017.
1. What are IND AS? IND AS stands for Indian Accounting standards and are converged standards for International Financial Reporting standards (IFRS). In simple terms, Indian accounting standards came into existence to meet the requirements of IFRS. The Government of India in consultation with ICAI decided to converge and not to adopt IFRS issued by […]
The Indian Accounting Standards (IND AS) are Accounting Standards, harmonized with IFRS (International Financial Reporting Standards)/IAS (International Accounting Standards) to make Financials Accounts and Reports of Indian Companies internationally accessible, acceptable, transparent and comparable.
