Background Prior to Ind AS, unrealized gain or loss on few capital incomes which were used to flow through shareholders equity and to reserves and surplus.This used to show incorrect picture to the investors and other stake holders. Especially when company management does not have control over gain or loss made due to these transactions It was noticed that Bank of America posted profit of US $ 1.4 billion when whole world was facing financial crisis in the FY 2007-09. When comprehensive..
Before going with the Main Topic let's First Understand "WHAT IS EARNING PER SHARE". It is a concept envisaged by Ind AS (Indian Accounting Standards) 33 "EARNING PER SHARE". Three questions needs to be answered: 1. What is Earning Per Share? Earning Per Share is an important toll to measure the performance of the company. This depicts earnings per Ordinary Share (Equity Shares) of the company. It is calculated by dividing Net Profits by the number of Ordinary Sh..
Background Indian Accounting Standard 116, Leases which is applicable from period beginning on or after 1 April 2019 sets out principle for recognition, measurement, presentation and disclosure of leases. Ind AS 116 supersedes Ind AS 17, Leases. Ind AS 116 is based on the same principal as mentioned in IFRS 16, which is applicable for period beginning on or after 1 January 2019. Ind AS 116 has replaced the dual classification model of finance lease and operating lease in the books of lessee, ..
In Indian context, Companies needs to comply with Accounting Standards notified under Section 133 of Companies Act 2013 to prepare the Financial Statements at the end each Financial Year. Ensuring the proper compliance and provisions of these Accounting Standards lies on the Shoulders of Director/Auditors of the Company. There are some service which can not be rendered by the Auditors are listed in Section 144 (Auditor not to render certain services). The list of these services are ..
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