Impairment means weakening of Asset. As per INDAS and IFRS Standards, entities should include impairment loss in the financial statements.
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We are in the season of Statutory audit and few people are working in companies where IND AS is applicable, and few are in companies where IND AS is not applicable.
Introduction:Before going into �Financial Guarantee� and further deep into �Corporate Guarantee�, it is better to dive into what is the
When a company acquires certain types of Tangible Asset under Ind AS 16, it sometimes has an obligation to remove these assets after the end of their useful liv..
For any organisation, accurate computation of liability towards employee benefit is critical to ensure they are suf
This article aims at covering most of the concepts of recently issued Ind AS 116 by the ICAI and MCA which will supersede the earlier issued s
Para 8 of Ind AS 38 specifies that �An intangible asset is an identifiable non-monetary asset without physical substance.�Also as per para 8 �
Hedge accounting as covered under Para 6 of Ind AS 109 needs to determine the TYPE of hedge relationship that an entity is dealing with because the type of hedg..
The Ministry of Corporate affairs has notified the new Indian Accounting Standard (Ind AS) 116 Leases on March 30, 2019. As per the notification, this new Ind A..
1.What is GAAP Conversion?Converting from one GAAP to another GAAP. It often means changing more than just the numbers; there are of
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