Accounts Articles

Introduction of IND AS Framework

Posted by CA Vivekanand Pote 28 March 2015 19953 Views

Framework for preparation and presentation of financial statements in accordance with IND AS Purpose Sets out the concepts for preparation and presentation of financial statements in accordance with IND AS Assist in development of future Indian Acc

Stage now set for implementing Accounting Standards converged with IFRS

Posted by CA. Rajvir Bhatnagar 10 March 2015 13946 Views

Ministry of Corporate Affairs has finally announced the Companies (Indian Accounting Standards) Rules, 2015 for applicability of Accounting Standards converged with IFRS. A notification in this regard has been issued on 16th February, 2015. Important

Path towards IFRS

Posted by Samyak Sanghvi 05 March 2015 17832 Views

INTRODUCTION Since the advent of internet, the world has shrunk, distances have lost their importance and information has no more remained the differentiating factor in this global arena. Globalization-the BUZZWORD has

Ind AS 2 - Inventories

Posted by Ashima chachra 25 February 2015 58675 Views

1. Objective: a) Deals with the determination of cost ,b) Subsequent recognition as an expense , including any write-down to NRV ,c) Guidance on the cost formulas that are used to assign costs to inventories.2. Scope: This Standard applies to all inv

Ind AS applicability

Posted by Ashima chachra 23 February 2015 269876 Views

Indian Accounting Standards (Ind As)As we all know that as per Notification of Ministry of Corporate Affairs on 16th February2015 Ind As has came into force. They shall come into force on the 1st day of April, 2015. I have gone through the notificati

IFRS 15: Revenue recognition from contracts with customers

Posted by CA. Rajvir Bhatnagar 09 February 2015 16949 Views

IFRS 15: Revenue recognition from contracts with customers - Major changes in the offing for some industriesA new Standard, laying down revised guidance for recognising revenue from contracts with customers has been introduced by International Accoun

Comparison of IND AS 2 and existing AS 2

Posted by Aadarsh Gupta 28 January 2015 88454 Views

Ind AS 2 and existing AS 2 The principles laid down in Accounting Standard (AS) 2, Valuation of Inventories, are well established and the principles laid down in Ind AS 2, Inventories, are almost similar to the pr

Comparison of IND AS 1 and existing AS 1

Posted by Aadarsh Gupta 23 January 2015 41057 Views

Accounting Standard 1 i.e. Disclosure of Accounting Policies deals with disclosure of significant accounting policies followed in preparing and presenting financial statements whereas IND AS 1 i.e. Presentation of Financial State

Accouning Standards vis-a-vis IND vis-a-vis IFRS

Posted by CA. Atul Khurana 22 December 2014 20163 Views

OVERVIEW:What is Convergence of Accounting Standards?What is IFRS?Convergence of Indian accounting standards with IFRSRole of ICAI in IND ASRole of SEBI in IND ASRole of Industry AssociationsAdvantages and Challenges after implementing IND ASFor bett

Joint Development Agreement - A Business Model - Part 2

Posted by Bhanu Prakash Rao 16 December 2014 35756 Views

In my earlier article Joint Development Agreement - A Business Model I had made an attempt to discuss the joint development agreement model and a broad view of tax implication under the Income T