Income Tax : Summary of Income Computation and Disclosure Standards (ICDS) and their mandatory reconciliation with Accounting Standards for cal...
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 : Explore AS 17 Segment Reporting: its scope, definitions of business and geographical segments, allocation methods, and criteria fo...
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 : The Ministry of Corporate Affairs has amended the Companies (Indian Accounting Standards) Rules, 2015, impacting financial reporti...
Company Law : MCA issues the Companies (Ind AS) Third Amendment Rules, 2024. New provisions for insurers on financial reporting using Ind AS 104...
Company Law : MCA revises Indian Accounting Standards, updating Ind AS 101, 103, 105, and 107, and omitting Ind AS 104 as per Notification G.S.R...
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...
Background The Ministry of Corporate Affairs (MCA) has notified the provisions governing valuation by registered valuers [section 247 of the Companies Act, 2013 (the Act)] and the Companies (Registered Valuers and Valuation) Rules, 2017 (the Rules), both to come into effect from 18 October, 2017. These rules are game changer in the domain of […]
Progressing from Accounting Standards to IndAS (or globally IFRS) has indeed been a huge step up in the Accounting world. Companies as well as regulators haven’t yet recovered from the dust risen by the IFRS storm. However, is this change enough? Is IFRS sufficient to factor in the changes happening at lightening speed in the […]
Understand Ind AS 24 – Related Party Disclosures in Indian Accounting Standards. Learn about related party transactions and their impact on financial reporting.
The new standard will require lessees to recognize most leases on their balance sheets. Lessees will use a single accounting model for all leases, with limited exemptions. Ind AS 116 is likely to be effective for accounting periods beginning on or after 1 April 2019.
Understand practical situations on Ind AS 21 and ITFG. Learn about analyzing revenue, costs, and functional currency in international business transactions.
Learn about the proposed changes to lease accounting with Ind AS 116. Understand how it eliminates the difference between operating and finance leases for lessees.
Accounting of Loans under Ind AS Two Ind AS would be referred for the accounting of loans: Ind AS 109 (Financial Instruments) and Ind AS 113 (Fair Value Measurement). As per Ind AS 109, financial instruments have to be measured at fair value at its initial recognition as per the methodology given by Ind AS […]
Educational Material on Indian Accounting Standard (Ind AS) 111, Joint Arrangements This Educational Material on Ind AS 111, Joint Arrangements will provide guidance to the stakeholders in how an entity that is a party to a joint arrangement to determine the type of joint arrangement by assessing its rights and obligations and to account for those […]
As per circular no. 25/2012 dated August 9, 2012 issued by the Ministry of Corporate Affairs (MCA), paragraph 6 of Accounting Standard (AS) 11 and paragraph 4(e) of AS 16 shall not apply to a company that opts to apply paragraph 46A of AS 11.
Understand Ind AS 108: Operating Segments and its applicability to companies. Learn about the requirements and options for disclosing segment information.
