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Articles by Prateek Mankad

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

  Prateek Mankad    23 November 2020 at 09:59

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

  Prateek Mankad    06 November 2020 at 12:25

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 - The devil is in the detail!

  Prateek Mankad    30 October 2020 at 13:27

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.

CARO 2020 - A Stitch in Time Saves Nine

  Prateek Mankad    28 October 2020 at 17:34

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

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

  Prateek Mankad    05 October 2020 at 10:46

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. 

Core Investment Companies (CICs) - New guidelines

  Prateek Mankad    05 October 2020 at 10:46

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

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

  Prateek Mankad    05 October 2020 at 10:45

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