Exceptional and Extraordinary Items under AS and Ind AS (IFRS) The terms exceptional and extraordinary items are sometimes used interchangeably and creates practical issues as to whether any items can be labeled as such and if yes in which circumstances. The blog provides the understanding on the meaning of these terms, […]
Ind AS 116 is effective from 1st April 2019 for all companies preparing their financials in compliance with Indian Accounting Standards by replacing Ind AS 17. New standard requires Lessees to follow single accounting model for all leases. For lessors, there is little change to the existing accounting under Ind AS […]
Speedbreakers on the highway of Ind AS Implementation Financial reporting in India is passing through very remarkable moments owing to adoption of Indian accounting standards (Ind AS). For companies covered under Phase – 1 of mandatory Ind AS Financials, 1st April 2015 is the transition date. Few months are left for […]