Articles by CA Sumit Sarda

Corona and Ind AS

Posted by CA Sumit Sarda 26 December 2020 4536 Views

Coronavirus has led to many issues world around not just in relation to health but also has impact over various other concerns and one such concern is its accounting impact.

Paper Analysis of CA Final (Financial Reporting - New Course) for Nov 20 Exams

Posted by CA Sumit Sarda 28 November 2020 23150 Views

This cycle's Financial reporting paper was quite lengthy. Nonetheless, the paper was not made to be a tricky one. In fact, except for the one question, the whole paper was fairly easy.

Discontinuing a business segment and its accounting impact under Ind AS

Posted by CA Sumit Sarda 16 August 2020 5036 Views

Discontinuing a segment/ department/ branch and its accounting impact under Ind AS

Banks and Ind AS

Posted by CA Sumit Sarda 11 August 2020 6244 Views

In October, 2018, the Ministry of Corporate Affairs notified Division III to Schedule III to the Companies Act, 2013 which contained the format of Financial Sta...

Analysis of CA Final FR New Syllabus Nov'19 paper

Posted by CA Sumit Sarda 06 May 2020 12959 Views

Analysis of CA Final FR New Syllabus Nov'19 paper by CA Sumit Sarda

Provision for decommissioning Ind AS 37

Posted by CA Sumit Sarda 12 January 2020 18727 Views

When a company acquires certain types of Tangible Asset under Ind AS 16, it sometimes has an obligation to remove these assets after the end of their useful liv...

Analysis of Financial Reporting (CA Final - Old / New) Paper May'19

Posted by CA Sumit Sarda 27 November 2019 31101 Views

Analysis of FR CA Final Old syllabus paperThe paper has been lengthy and compared to previous 2 attempts has been difficult. This time ICAI asked questions in w...

Analysis of CA Final FR Old Syllabus Nov'19 paper

Posted by CA Sumit Sarda 05 November 2019 60521 Views

Analysis of CA Final FR Old Syllabus Nov'19 paper by CA Sumit Sarda

How to identify an intangible asset and capitalize?

Posted by CA Sumit Sarda 05 November 2019 10988 Views

Para 8 of Ind AS 38 specifies that �An intangible asset is an identifiable non-monetary asset without physical substance.�Also as per para 8 �

Determination of revenue under construction contract under Ind AS 115

Posted by CA Sumit Sarda 08 October 2019 26050 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