Articles by Sanjay Chauhan (IFRS)

Indian Economic Turbulence - A Comparative View

Posted by Sanjay Chauhan (IFRS) 09 May 2021 14005 Views

Finance Minister Pranab Mukherjee on Wednesday, 23rd May 2012, assured Parliament that India's growth story remained intact despite Euro zone crisis and Greece turmoil. Mr. Mukherjee attributed the downward trend in the share markets to the glob

Accounting Deep Discount Bonds - I GAAP & IFRS

Posted by Sanjay Chauhan (IFRS) 14 April 2020 79310 Views

A. Zero Coupon Bond (Deep Discount Bond) Zero-coupon bond (also called a discount bond or deep discount bond) is a bond issued at a price lower than its face value, with the face value repaid at the time of maturity. It does not make periodic inte

R & R Expenditure in Land Acquisition - An Accounting Debate

Posted by Sanjay Chauhan (IFRS) 28 August 2014 20584 Views

IntroductionWith the growing need to grow, various industrialists in developing nations like India step forward to invest in new manufacturing facilities. One of the key requisite for this activity is Land, on which the upcoming industries will be se

Greedonomics

Posted by Sanjay Chauhan (IFRS) 25 January 2013 9250 Views

It is said that there is no end to Greed. The Free Dictionary defines Greed as an excessive or rapacious desire, especially for wealth or possessions. Though, I am not any Economist but a sceptical man, I see the current economi

Hedge Accounting for Foreign Currency Firm Commitments

Posted by Sanjay Chauhan (IFRS) 07 January 2013 33055 Views

In Continuation of my previous article.. Application of AS 30 under existing Indian GAAP as per ICAIs announcement: ICAI wide its circular dated 11th February 2011, has clarified that in respect of the financial statements or other financial

Hedging Foreign Currency Firm Commitments

Posted by Sanjay Chauhan (IFRS) 03 January 2013 20840 Views

Introduction Institute of Chartered Accountants of India (ICAI) had come out with an announcement in February 2011, on Application of AS 30, Financial instruments: Recognition and Measurement. It was clarified that the prepares of Financial S

IFRS 3 and Goodwill

Posted by Sanjay Chauhan (IFRS) 08 December 2012 27466 Views

Introduction: With the introduction of revised schedule VI, India has shown its intent to Converge Indian Accounting Standards (Ind AS) with International Financial Reporting Standards (IFRS) read with 41 International Accounting Standards (IAS) and

Ind AS 16 Industry Impact and Way Forward

Posted by Sanjay Chauhan (IFRS) 28 November 2012 8999 Views

In continuation of my previous article, this writeup brings out the brief differences between the two GAAPs and shares the industry impact analysis. Takes away from this article are part of the way forward section at the end. Major differences bet

Convergence to Ind AS 16 : Property, Plant & Equipment

Posted by Sanjay Chauhan (IFRS) 15 November 2012 18484 Views

Introduction India has principally agreed to converge to IFRS by implementing Revised Schedule VI, being the first constructive step in the journey. Let us appreciate the requirements of accounting for fixed assets in specific under Ind AS (ie IFR

Functional Currency's consequential Impact on Deferred Tax

Posted by Sanjay Chauhan (IFRS) 27 August 2012 30912 Views

In continuation of my previous article, this article highlights the consequential impact of having two sets of functional currency (one for GAAP reporting and other Tax submissions) on deferred tax computation under Ind AS 12, which again is based