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Company Law : MCA notifies Companies (Indian Accounting Standards) Amendment Rules, 2022 vide Notification No. G.S.R 255(E) Dated: 23rd March, 2...
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Company Law : (1) These rules may be called the Companies (Indian Accounting Standards) Amendment Rules, 2021. (2) They shall come into force on...
As you all might be aware about the meaning and significance of functional currency for an entity whose financial statements are being prepared under Ind-As/ IFRS.
There are certain foreign currency borrowings which have been taken in order to construct/ create some of the assets of the entity. Company is currently availing option given under para 46/46A of AS-11 and amortizing exchange difference over the period of loan.
(1) These rules may be called the Companies (Indian Accounting Standards) (Amendment) Rules, 2017. (2) They shall come into force on the 1st day of April, 2017.
Acquisitions of new businesses are quite common strategies for any business to leverage its exisiting competencies or to achieve an economy of scale. Apart from various valuation analysis that are being done while finalizing any new business acquisition decisions
CA Anuj Agrawal Provisions are being made where there is an uncertainty of an Amount and Timing to discharge these liabilities which are being calculated based on estimations & other procedures adopted by the management prescribed as per applicable accounting standards. Under the current accounting practice there is no requirement for discounting any provision which […]
A rights issue is basically when a company offers existing shareholders a right to purchase additional shares of the company at a given price, which is at a discount to the prevailing market price of the stock, to make the offer enticing for the shareholder and to ensure that the rights offer is fully subscribed to.
IASs have no explicit concept of functional currency. Whatever currency the accounts are presented in is simply known as the reporting currency (all other currencies are foreign currencies) and its role in the translation processes is similar to that of the US and UK functional currency.
Constructive as per its dictionary meaning it is something which is not obvious or stated explicitly and it perhaps could be derived by inference (presumptions) and the word Obligation means a duty or commitment.
Those who keep an eye on latest trends over fund raising by Indian entities, they would have noticed that recently ICICI bank has initiated a Dollar Bond issue through its Dubai branch.
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 recognized as revenue expenditure immediately.