Articles by Prateek Mankad

CARO 2020- Only borrow money when it’s going to make you money!

Posted by Prateek Mankad 23 November 2020 3228 Views

CARO 2020 sharpens the reporting requirements with respect to utilization and end-use of funds, including bringing back certain requirements around the use of short term funds for long term purposes

ICAI announced issue of 2 guidance notes for AS - Share based payments and on effective tax rate

Posted by Prateek Mankad 06 November 2020 5508 Views

The GN is applicable to companies following accounting standards (AS) under the Companies (Accounting Standards) Rules, 2006, as amended under Section 133 of Companies Act, 2013.

CARO 2020 - A Stitch in Time Saves Nine

Posted by Prateek Mankad 31 October 2020 7842 Views

The requirement to report exceptions in the consolidated financial statements requires careful planning. Auditors should factor this when finalizing the group audit instructions.

CARO 2020 - The devil is in the detail!

Posted by Prateek Mankad 31 October 2020 6921 Views

In this article, we deal with the reporting requirements related to assets. CARO 2020 largely retains the principles and reporting requirements of property, plant, and equipment.

Revisions to Ind AS 116- Leases on account of Covid-19 rent concessions

Posted by Prateek Mankad 28 October 2020 17972 Views

The amendment made in Ind AS 116 includes a practical expedient that provides lessees with a choice not to assess a rent concession occurring as a result of the direct consequence of the Covid-19 pandemic as a lease modification. Know more about the amendment here

Core Investment Companies (CICs) - New guidelines

Posted by Prateek Mankad 05 October 2020 7984 Views

The Reserve Bank of India on 13 August 2020, notified the revised guidelines applicable to Core Investment Companies. Let us analyze the new same.

LIBOR Reform - Key Changes in IFRS 9, IAS 39 and IFRS 7

Posted by Prateek Mankad 05 October 2020 2720 Views

In order to facilitate the transition from an IBOR, the IASB has on 27 August 2020 announced various amendments. In this note, we capture the key changes to IFRS 9, IAS 39, and IFRS 7.