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Navigating Revenue Recognition: A Comprehensive Guide to IND AS 115

  CA Sanat Pyne    25 June 2024 at 08:40

The core principle of IND AS 115 is that revenue should be recognized to reflect the transfer of promised goods or services to customers in an amount that represents the consideration to which the entity expects to be entitled.

Highlights of the Percentage-of-Completion Method (POCM)

  Amit Kumar    20 June 2024 at 17:13

The Percentage-of-Completion Method (POCM) is an accounting method commonly used in the construction industry and other long-term contracts. It involves recognizing revenues and expenses in proportion to the project's completion during each accounting period.

IND AS 116: Against the Basic Accounting Principles

  Pranav Bansal 510    18 April 2024 at 08:37

IND AS was introduced in India way back in 2015 with the inherent objective of devising a better compliance model and structure for the big Indian conglomerates so that they could prepare their financial statements for true and fair representation.

Empower Your Accounting Practice with 3 Leading AI Technologies

  Entera Global    16 February 2024 at 14:06

In this article we discuss 3 AI-driven innovations, actively used by accountants to improve the accuracy of financial data, to free up time and make accounting more efficient.

The Benefits of Accounts Outsourcing: Why Companies are Turning to External Experts

  Member (Account Deleted)    13 February 2024 at 08:48

In this article, we check the benefits of accounts outsourcing and how it can streamline your operations. So, get ready to say goodbye to accounting stress.

The Golden Rules of Accounting

  Mitali    08 January 2024 at 16:06

Golden Rules of Accounting means guiding principles for recording transactions correctly. The 3 main Golden Rules are Personal Accounts, Real Accounts and Nominal Accounts.

A Comparative Study of Ind AS 8 and AS 5

  CA Rakesh Ishi    02 January 2024 at 10:25

A Comparative Analysis of Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors and AS 5 - Net Profit or Loss for the Period, Prior Period ..

Actuarial Valuation Insights: Gratuity Accounting Provision

  Radhika Teredesai    02 January 2024 at 09:18

Helps Audit Professionals in ensuring compliance with accounting standards like AS -15 (R), Ind AS 19 | IAS 19 | US GAAP which mandate the use of Actuarial Valuation methods for provisioning for Long Term Employee Benefits.

Key Differences Between Ind AS 10 and AS 4 in Post-Balance Sheet Events

  CA Rakesh Ishi    01 January 2024 at 08:42

1. Disclosure of Material Non-Adjusting Events Ind AS 10: Requires the disclosure of material non-adjusting events directly in the financial statements. AS 4: M..

Simplifying Variances Between Ind AS and AS in Inventory Valuation

  CA Rakesh Ishi    30 December 2023 at 10:33


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