Welcome: Guest

Research Box

Want to know more
Enter the details and we'll call you soon

Name :

Company Name :

City :

Mobile No. :

Email id :

Thank you for your details

Our Executive will reach you shortly.

Your Session Will Expire in seconds.

If you do not wish to log-out, choose 'Let me continue'

Reset Session

Cancel Session

Accounts & Audit > Accounting > Ind AS Filter
Accounting Ind AS Choose Ind AS : AS ICDS Cost Accounting Standards Indian GAS	Ind AS 1 and Related Records Print List Go To Page of [1 ] Ind AS 1 Presentation of Financial Statements ITFG Opinions 1. Ind AS : Opening Ind AS Balance Sheet shall be prepared as at start of transition date 2. Ind AS 1: Waived-off Interest on loan taken should be recognized as expense firstly, and then as income 3. Ind AS 103: No requirement to present third balance sheet in case of business combination 4. Ind AS 109: Prepayment charges paid during loan restructuring to be recognised in P & L 5. Ind AS 12: Accounting Standard Interpretations of previous GAAP can’t be applied 6. Ind AS 12: Interest & penalty related to income tax to be recorded as finance costs 7. Ind AS 18: Revenue does not include service tax collected 8. Ind AS 33: Subsidiary to disclose EPS of all equity holders, not only of parent entity 9. Ind AS Applicability: Include ESOP reserve for calculating company’s net worth 10. Ind AS Application: After conversion of a company into LLP, Ind AS shall cease to apply 11. Ind AS Disclosure: Excise Duty not to be shown separately on face of PL 12. Ind AS transition: Applicability of Ind AS when the company is in the process of listing 13. Ind AS voluntary adoption: Schedule III can be used to prepare Ind AS financials for FY 15-16 14. Ind AS: Applicability on NBFC which converted itself into other entity 15. Ind AS: Fellow subsidiary needn’t adopt Ind AS merely because Ind AS mandatory on another subsy 16. Ind AS: Ind AS Financial statements presentation currency must be in INR 17. Interest on late payment of tax to be classified as ‘other expense’ if penal in nature Illustrative Examples Puttable financial instruments classified as equity Basis for Conclusions General Purpose Financial Statements Equal prominence Departure from Ind ASs Materiality and aggregation Comparative information Comparative information beyond minimum requirements Opening balance sheet Criterion for exemption from requirements Consistency of presentation Information to be presented in balance sheet Current assets and current liabilities Puttable financial instruments and obligations arising on liquidation Information to be presented in the other comprehensive income section Extraordinary items Other comprehensive income - related tax effects Reporting owner and non-owner changes in equity Statement of changes in equity Presentation of dividends Statement of cash flows Structure Disclosure of the judgments that management has made in the process of applying the entity’s accounting policies Disclosure of major sources of estimation uncertainty Disclosures about capital User's Queries Calculation of Net Worth for applicability of Ind AS Applicability of Ind AS on foreign subsidiary Disclosure of information in the offer document as per Ind AS Ind AS financial statement SPECIMEN FOR 2015 New Format - Press Release Disclosure Checklist Presentation of Financial Statements Commentaries Presentation of Financial Statements Articles Your Queries on Financial Reporting and Assurance / [2017] 84 taxmann.com 36 (Article)[2017] 39 CPT 837 (Article) VINAYAK PAI V. Mandatory Dividend Distribution Policy: Disclosures - Case Studies / [2017] 82 taxmann.com 271 (Article)[2017] 39 CPT 440 (Article) VINAYAK PAI V. An insight into the ICDS - Accounting policies / [2017] 250 Taxman 53 (Article)[2017] 86 taxmann.com 207 (Article) ALOK PAREEK Your Queries on Financial Reporting and Assurance / [2017] 86 taxmann.com 281 (Article)[2017] 40 CPT 543 (Article) VINAYAK PAI V. Your Queries on Financial Reporting & Assurance / [2017] 83 taxmann.com 379 (Article)[2017] 39 CPT 734 (Article) VINAYAK PAI V. Your Queries on Financial Reporting and Assurance / [2017] 85 taxmann.com 313 (Article)[2017] 40 CPT 314 (Article) VINAYAK PAI V. IndAS is coming --> deepen your pockets for MAT! / [2016] 72 taxmann.com 310 (Article)[2016] 37 CPT 41 (Article) RAGHAV KUMAR BAJAJ Case Study: IND-AS Impact – Actuarial Gains and Losses / [2016] 74 taxmann.com 119 (Article) VINAYAK PAI V. Practice Tool – “Specified Bank Notes”: Disclosures And Audits / [2017] 81 taxmann.com 382 (Article)[2017] 39 CPT 270 (Article) VINAYAK PAI V. Your Queries on Financial Reporting and Assurance / [2017] 82 taxmann.com 40 (Article)[2017] 39 CPT 397 (Article) VINAYAK PAI V. MAT treatment under IND-AS – Is taxing of Capital Adjustment unintended / [2017] 82 taxmann.com 485 (Article) DARSHAK SHAH, VISHAL KHERIA Audit approach under the Ind- AS regime / [2017] 84 taxmann.com 273 (Article) PUNEET SHARMA IND-AS Tax Reconciliation Disclosure – An Analysis / [2017] 85 taxmann.com 150 (Article)[2017] 40 CPT 199 (Article) VINAYAK PAI V. Practice Issues In Accounts And Audit / [2018] 91 taxmann.com 53 (Article)[2018] 41 CPT 580 (Article) VINAYAK PAI V. Key changes in SEBI’s revised LODR Regulations related to Accounts & Audit / [2018] 95 taxmann.com 75 (Article)[2018] 42 CPT 488 (Article) SANTOSH MALLER IND-AS : Banking and Financial Services Sector / [2018] 95 taxmann.com 182 (Article)[2018] 42 CPT 704 (Article) VINAYAK PAI V. MAT computation of Ind AS compliant companies / [2017] 83 taxmann.com 382 (Article)[2017] 39 CPT 255 (Article) RAMAKANT MISHRA Comprehending Other Comprehensive Income from an NBFC’s Perspective / [2018] 94 taxmann.com 48 (Article)[2018] 148 SCL 56 (Article) RAHUL MAHARSHI An analysis of MAT under Ind AS Framework / [2018] 96 taxmann.com 477 (Article)[2018] 42 CPT 908 (Article) RAMAKANT MISHRA MCA issues Schedule III for Ind AS Compliant NBFCs / [2018] 98 taxmann.com 244 (Article) SANTOSH MALLER Initial Coin Offering (ICO): An Accounting Perspective / [2018] 99 taxmann.com 35 (Article)[2018] 43 CPT 603 (Article) SANTOSH MALLER Going concern basis of reporting in a Start-up Enterprise / [2019] 106 taxmann.com 164 (Article) GOPAL NATHANI Accounts and Audit: Recent developments in the Indian and Global space / [2020] 114 taxmann.com 590 (Article)[2020] 47 CPT 430 (Article) VINAYAK PAI V. Accounting implications of the Coronavirus outbreak / [2020] 115 taxmann.com 51 (Article) SANTOSH MALLER Guidance Note on Division II - Ind As Schedule III to The Companies Act 2013 / [2017] 85 taxmann.com 246 (Article)[2017] 40 CPT 239 (Article) MAYANK CHHABRA MCA issues Ind AS Amendment Rules 2020: the latest batch of annual Ind AS changes / [2020] 117 taxmann.com 997 (Article) SANTOSH MALLER Simplified Ind AS 1 Comparative Study with AS Major differences between Ind AS and Indian GAAP Case Laws Income Tax Act Principal Commissioner of Income Tax, Kottayam vs. Plantation Corporation of Kerala Ltd. Income Tax Act Binod Kumar Agarwala vs. Commissioner of Income Tax, W.B.-XIX Income Tax Act Sahara India Ltd. vs. Assistant Commissioner of Income-tax, Central Circle-III, Lucknow Statutes Sec. 131 of Companies Act, 2013 Sec. 44AA of Income-Tax Act, 1961 Sec. 145 of Income-Tax Act, 1961