Articles by CA Sumit Sarda
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Corona and Ind AS
Coronavirus has led to many issues world around not just in relation to health but also has impact over various other concerns and one such concern is its accounting impact.
Paper Analysis of CA Final (Financial Reporting - New Course) for Nov 20 Exams
This cycle's Financial reporting paper was quite lengthy. Nonetheless, the paper was not made to be a tricky one. In fact, except for the one question, the whole paper was fairly easy.
Discontinuing a business segment and its accounting impact under Ind AS
Discontinuing a segment/ department/ branch and its accounting impact under Ind AS
Banks and Ind AS
In October, 2018, the Ministry of Corporate Affairs notified Division III to Schedule III to the Companies Act, 2013 which contained the format of Financial Sta...
Analysis of CA Final FR New Syllabus Nov'19 paper
Analysis of CA Final FR New Syllabus Nov'19 paper by CA Sumit Sarda
Provision for decommissioning Ind AS 37
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...
Analysis of Financial Reporting (CA Final - Old / New) Paper May'19
Analysis of FR CA Final Old syllabus paperThe paper has been lengthy and compared to previous 2 attempts has been difficult. This time ICAI asked questions in w...
Analysis of CA Final FR Old Syllabus Nov'19 paper
Analysis of CA Final FR Old Syllabus Nov'19 paper by CA Sumit Sarda
How to identify an intangible asset and capitalize?
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 �
Determination of revenue under construction contract under Ind AS 115
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
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