Income Tax : A guide on Income Computation and Disclosure Standards (ICDS) and its reconciliation with Accounting Standards (AS) for taxable in...
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 : 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...
Company Law : MCA notifies Companies (Indian Accounting Standards) Amendment Rules, 2022 vide Notification No. G.S.R 255(E) Dated: 23rd March, 2...
In view of implementation of Ind AS 116, ‘Leases ’applicable from the financial year 2019-20, and amendments in other Ind ASs, CSR Rules etc (applicable from FY 2019-20 & 2020-21), Ind AS XBRL taxonomy has been amended for financial reporting purposes.
Article contains Easy Analysis of Differences Between Ind AS-103 and AS-14 and Carve-Out, Carve-In in Ind AS-103 from IFRS-3. It explains Significant differences between Ind AS-103 and AS-14 and Carve-Out in Ind AS-103 from IFRS-3. 1- Introduction There is no single Accounting standard which addresses accounting treatments and disclosures where one entity obtains control of […]
Accounting for Import Transactions of Goods – GST viz a viz Accounting Standard AS 11 This Article deals with the nuances of the GST framework for Import Trade viz a viz the challenges laid down while adhering to the Accounting Standard AS 11 – The Effects of Changes in Foreign Exchange Rates Lets understand a […]
Accounting Standards Board (ASB) decided to issue the Exposure Draft of Amendments to Ind AS 117, Insurance Contracts, corresponding to amendments in IFRS 17 for public comments. It may be noted that in May 2017, the IASB issued new standard on insurance Contracts, IFRS 17, Insurance Contracts, replacing IFRS 4 which was in the nature of an interim standard pending the completion of the project on insurance contracts by the IASB. IFRS 17, first comprehensive international standard, sets out the principles for the recognition, measurement, presentation and disclosure of insurance contracts within the scope of the Standard.
Learn about compound financial instruments and their role in accounting standards. Discover how they are classified and the impact they have on financial reporting.
Understanding the tax implications of Ind AS 116 Leases- a comprehensive guide to the new accounting treatment for lease arrangements.
Exposure Draft of revised AS 21, The Effects of Changes in Foreign Exchange Rates, has been issued by the ASB for comments with the last date being December 3, 2020
Gain a comprehensive understanding of Indian Accounting Standard (IND AS) 33 and IAS 33 Earnings per Share. Learn about the practical applications and differences between these accounting standards.
Companies (Indian Accounting Standards) Amendment Rules, 2020* The COVID 19 has not only affected health of people across the globe, but it also caused severe disturbance in global economic environment which consequentially created an impact on financial statements and reporting. Keeping in view all these drastic changes MCA on July 24, 2020, notified the Companies […]
Learn about the implementation of Indian Accounting Standards by NBFCs and ARCs. Stay updated with the recent guidance provided by RBI for Ind AS implementation.
