Accounts Articles

Provision for decommissioning Ind AS 37

Posted by CA Sumit Sarda 12 January 2020 18743 Views

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...

Applicability of Gratuity in organizations

Posted by Anand Krishnakumar 31 December 2019 9660 Views

For any organisation, accurate computation of liability towards employee benefit is critical to ensure they are suf

Ind AS 116 - Leases

Posted by CA Ankit Jain 21 December 2019 17655 Views

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

Impact of adoption of IFRS/Ind AS

Posted by CA. Atul Khurana 13 December 2019 5746 Views

This article is intended to make you understand the major impact both in terms of advantages and disadvantages of the adoption of Converged IFRS i.e Indian Accounting standards (Ind AS) on the financial statements and the working of the companies both.

Changing scenes in Data processing and their impact on the Accountant role

Posted by Tulasi S Sastri 28 November 2019 7326 Views

With over four decades of association with the accounting profession, having witnessed phenomenal changes in the environment, expectations, opportunities and risks associated with the accountant�s role, due to the entry of computers in business organizations, I felt it appropriate to share my views here, for the benefit of young and budding Chartered Accountants.

Recent cases invoking "Going Concern"

Posted by S.Sridhar 23 November 2019 10955 Views

Read these three recent instances where the principle of Going concern was invoked: Bharti Airtel Limited Vodafone Idea Limited New Delhi Televisions Limited...

How to identify an intangible asset and capitalize?

Posted by CA Sumit Sarda 05 November 2019 11004 Views

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 �

Impact of IND AS 116 on financial statements for the financial year ended March 31, 2019

Posted by CA Karan Jain 26 October 2019 7662 Views

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...

Preface to IFRS

Posted by CA ANKUSH AGGARWAL 21 October 2019 21940 Views

PREFACE TO INTERNATIONAL FINANCIAL REPORTING STANDARDS PURPOSE OF ISSUING PREFACE Setting out objectives and due process of the IASB Explain the scope, authority and timing of application of IFRS Preface has been amended from time t

Determination of revenue under construction contract under Ind AS 115

Posted by CA Sumit Sarda 08 October 2019 26065 Views

Under the new Ind AS 115, construction contract is treated exactly the same way as any other contract with customers.As per Para 9 of Ind AS 115�An entity