Tag Archives: indas vs as

Ind AS for NBFCs – Not Just an Accounting Challenge (Detailed Article)

Ind AS for NBFCs

Ind AS for NBFCs: Non-Banking Finance Companies (‘NBFCs’) having net worth of Rs 500 crore or more as at 31st March 2016 or thereafter are required to comply with Ind AS for accounting periods beginning on or after 1st April 2018 with the date of transition of 1st April 2017 or thereafter. As a result, […]

Ind AS 27, Separate Financial Statements (all you need to know about)

Ind AS 27

Ind AS 27, Separate Financial Statements: The objective of Ind AS 27 is to prescribe the accounting and disclosure requirements for investments in subsidiaries, joint ventures and associates when an entity prepares separate financial statements. The Standard shall    be applied in accounting for investments in subsidiaries, joint ventures and associates when an entity elects, or is […]

Ind AS 114, Regulatory Deferral Accounts | Objectives | Scope

Ind AS 114

Ind AS 114, Regulatory Deferral Accounts: The objective of Ind AS 114 is to specify the financial reporting requirements for regulatory deferral account balances that arise when an entity provides goods or services to customers at a price or rate that is subject to rate regulation. An entity is permitted to apply the requirements of this […]

Ind AS 113, Fair Value Measurement | Definition | Market participants

Ind AS 113

Ind AS 113, Fair Value Measurement : Ind AS 113 applies when another Ind AS requires or permits fair value measurements or disclosures about fair value measurements (and measurements, such as fair value less costs to sell, based on fair value or disclosures about those measurements), except in specified circumstances . The measurement and disclosure requirements […]

Ind AS 112, Disclosure of Interests in Other Entities (complete details)

Ind AS 112

Ind AS 112, Disclosure of Interests in Other Entities: The objective of Ind AS 112 is to require an entity to disclose information that enables users of its financial statements to evaluate: the nature of, and risks associated with, its interests in other entities; and the effects of those interests on its financial position, financial performance […]

Ind AS 111, Joint Arrangements | Scope | Recognition (All Details)

Ind AS 111

Ind AS 111, Joint Arrangements: The objective of Ind AS 111 is to establish principles for financial reporting by entities that have an interest in arrangements that are controlled jointly (i .e., joint arrangements). The Standard requires a party to a joint arrangement to determine the type of joint arrangement in which it is involved by […]

Ind AS 110, Consolidated Financial Statements (all you need to know)

Ind AS 110

Ind AS 110, Consolidated Financial Statements : The objective of Ind AS 110, is  to  establish principles for the presentation  and preparation of consolidated financial statements when an entity controls one or more other entities. Consolidated Financial Statements are the financial statements of a group in which the assets, liabilities, equity, income, expenses and cash flows […]

Ind AS 109, Financial Instruments | Scope | Recognition | Classification

Ind AS 109

Ind AS 109, Financial InstrumentsThe objective of Ind AS 109 is to establish principles  for  the  financial reporting of financial assets and financial liabilities that will present relevant and useful information to users of financial statements for their assessment of the amounts, timing and uncertainty of an entity’s future cash flows. Scope of Ind AS 109 […]

Ind AS 108, Operating Segments | AS 17 vs Ind AS 108 (all details)

Ind AS 108

Ind AS 108, Operating Segments: An entity shall disclose information to enable users of its financial statements  to evaluate  the nature and financial effects of  the business activities in  which it engages and the economic environments in which it operates. The Standard requires an entity to  report  financial  and  descriptive information about its reportable segments. Reportable […]

Ind AS 107, Financial Instruments: Disclosures (All you need to know)

Ind AS 107

Ind AS 107, Financial Instruments: Disclosures The objective of the Ind AS 107 is to require entities to provide disclosures in their financial statements that enable users to evaluate: the significance of financial instruments for the entity’s financial position and performance; and the nature and extent of risks arising from financial instruments to  which the entity […]