Is Ind AS is applicable to partnership firm
rakesh (student) (462 Points)
17 October 2021rakesh (student) (462 Points)
17 October 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 18 October 2021
Types of business combination doesn’t mention partnership accounting apart from joint operations and joint ventures. You have to work accordingly. I’ll get back if I get any info
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 18 October 2021
If you have partnership, joint ventures or operations is valid. Gst on transactions will be the same. All liabilities will be borne in their partnership ratio
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 18 October 2021
I meant to say, if IndAS is applicable to partnerships, report assets, liabilities, expenses, gains as per IndAS. Take profits as per partnership act
PF & ESI Course - Labour Code 2019 Along with Examples and Case Studies