ApplicabilityThe MCA on March 30, 2016 notified the Companies (Indian Accounting Standards) (Amendment) Rules, 2016, which includes a road map for implementatio..
Ind AS-115 notified on 28.03.2018 by the Ministry of Corporate Affairs, effective from 01.04.2018.Ind AS-115 provides single comprehensive framework to be used ..
Ind AS 115 deals with Revenue from Contracts with Customers Notified by MCA based on recommendation by ICAI.
Meaning of Deferred Tax Liability & Asset Explained in Simple Words: In Simple words, Deferred Tax Liability is a Provision for Future Taxation. This is in stark Contrast to Provision for Taxation. Provision for Taxation is basically a provision
Ind AS-16 deals with the accounting and depreciation of property, plant, and equipment, which are covered by the corresponding AS-10. Scope. Meaning of Plant, Property and Equipment (PPE), Recognition Principle, Component-Based Accounting, Initial Cost for Recognition, Subsequent Cost, Exchange for Non-Monetary Assets discussed.
Deferred Tax LiabilityExample for FY 2017-18 Particulars As per Books of Accounts As per Income Tax
PrefaceInternational Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) issued their long-awaited converged standard on revenue
Treatment of Contract costs Incremental costs of obtaining a contract Costs to fulfil a
Ind AS 115, Revenue from Contracts with Customers (based on IFRS 15), notified on 28 March 2018 by MCA. The new standard is effective for accounting periods be..
Ind AS 115 was notified on March 28, 2018 and establishes a five-step model to account for revenue arising from contracts with customers. The new revenue standa..
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