Accounts Articles

How to determine fair value hedge or cash flow hedge under Ind AS 109

Posted by CA Sumit Sarda 10 May 2019 19547 Views

Hedge accounting as covered under Para 6 of Ind AS 109 needs to determine the TYPE of hedge relationship that an entity is dealing with because the type of hedg...

Impact of IND AS 116 on financial statements for the financial year ended March 31, 2019

Posted by CA Karan Jain 26 October 2019 7667 Views

The Ministry of Corporate affairs has notified the new Indian Accounting Standard (Ind AS) 116 Leases on March 30, 2019. As per the notification, this new Ind A...

IFRS Convergence

Posted by Sanyam@1 10 June 2020 4318 Views

1.What is GAAP Conversion?Converting from one GAAP to another GAAP. It often means changing more than just the numbers; there are of

Determination of revenue under construction contract under Ind AS 115

Posted by CA Sumit Sarda 08 October 2019 26103 Views

Under the new Ind AS 115, construction contract is treated exactly the same way as any other contract with customers.As per Para 9 of Ind AS 115�An entity

Mandatory application of IFRS

Posted by CA Sumit Sarda 07 October 2019 5122 Views

With the applicability of Ind AS to all listed companies and unlisted with net worth more than 250 Crores w.e.f. 1.4.2018, there has been a lot of confusion wit...

Application of Time Value of Money Concept to WDV method of Depreciation Calculation

Posted by CA Vishal G Mulchandani 30 September 2019 12096 Views

Depreciation as per written down value method (WDV) has been under the spotlight after the introduction of the Companies Act, 2013. Schedule II of the act manda...

IFRS 16: Definition-of-a-lease

Posted by Guest 29 March 2019 5148 Views

IFRS 16 represents the first major overhaul of lease accounting in over 30 years. The new Standard will affect most companies that report under IFRS and are inv...