banner_ad

Realization A/c

Others 189 views 2 replies
is there is concept of Realization Account in Ind AS 103 ?
Replies (2)

It's not relevant because transition from IFRS will make Indas follow IFRS for Bankruptcy standard (I am not sure if the standard is available). When it comes to Matching concept, Realization accounting is possible. Eg, accruals record everything to match expenses and incomes on the day the transaction occurred so that they can find profit or loss. So, if you stand in a bankrupted position, the matching concept from accruals accounting tallies expenses and incomes and gives a loss or profit on disposal for that year. Another fact is Realisable values concept is accepted in Indas conceptual framework making it easy for measuring asset disposals to clear out the creditors. Moreover, Companies act or RBI maybe having its own bankruptcy/liquidation procedures and better read it to understand its concept of whether or not it is in coherence with Realization accounting.

Just like I imagined, read the PART 3 in this guidelines for bankruptcy. It is complex and resolutions are different than what we usually get the idea of winding up a company. So yes, realisation account can be used in IndAS 

https://m.rbi.org.in//Scripts/PublicationReportDetails.aspx?ID=226#c3


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details