Presentation of Excise Duty as Revenue under Ind-AS
Paragraph 8 of Ind AS 18, inter alia, provides that revenue includes only the gross inflows of economic benefits received and receivable by the entity […]
Financial Reporting
Decoding CARO 2016
Ministry of Corporate Affairs (MCA) notified Companies’ (Auditor’s Report) Order (CARO), 2016 on 29th March, 2016. CARO 2016 is applicable for financial years commencing on or […]
Roadmap for Implementation of Ind-AS for Banks/ NBFCs/ Insurance Companies
In pursuance to the Budget Announcement by the Union Finance Minister Shri Arun Jaitley, after consultations with Reserve Bank of India (RBI), Insurance Regulatory and […]
Ind-AS 108 Operating Segments
By Prateek Walia Ind-AS 108 Operating Segments guides on dealing with the disclosure requirements in respect of the segments of the entities and will replace […]
Liability for Termination Benefits
Comparison between Indian GAAP and Ind-AS/ IFRS Under Ind AS, the liability for termination benefits has to be recognized based on constructive obligation. Indian GAAP […]
Dividend on Redeemable Preference Shares
Comparison between Indian GAAP and Ind-AS/ IFRS The difference in the presentation and classification of financial instruments was discussed here. Moving ahead, since redeemable preference […]
Classification of Financial Instruments
Comparison between Indian GAAP and Ind-AS/ IFRS Under Indian GAAP, financial instruments are classified in the financial statements on the basis of its legal form. […]