Daily Archives: September 10, 2015

Financial Instruments Presentation Ind AS 32

By | September 10, 2015

Indian Accounting Standard (Ind AS 32) Financial Instruments: Presentation (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1. [Refer Appendix 1] 2. The objective of this Standard is to establish principles for presenting financial instruments as liabilities… Read More »

Ind AS 29 Financial Reporting in Hyperinflationary Economies

By | September 10, 2015

Indian Accounting Standard (Ind AS 29) Financial Reporting in Hyperinflationary Economies (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Scope 1. This Standard shall be applied to the financial statements, including the consolidated financial statements, of any entity… Read More »

Ind AS 28 Investments in Associates and Joint Ventures

By | September 10, 2015

Indian Accounting Standard (Ind AS 28) Investments in Associates and Joint Ventures (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1. The objective of this Standard is to prescribe the accounting for investments in associates and to… Read More »

Ind AS 27 Separate Financial Statements

By | September 10, 2015

Indian Accounting Standard (Ind AS 27) Separate Financial Statements (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1. The objective of this Standard is to prescribe the accounting and disclosure requirements for investments in subsidiaries, joint ventures… Read More »

Ind AS 24 Related Party Disclosures

By | September 10, 2015

Indian Accounting Standard (Ind AS 24) Related Party Disclosures (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.). Objective 1. The objective of this Standard is to ensure that an entity’s financial statements contain the disclosures necessary to draw… Read More »

Ind AS 23 Borrowing Costs

By | September 10, 2015

Indian Accounting Standard (Ind AS 23) Borrowing Costs (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Core principle 1. Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset form part of… Read More »

Ind AS 21The Effects of Changes in Foreign Exchange Rates

By | September 10, 2015

Indian Accounting Standard (Ind AS 21) The Effects of Changes in Foreign Exchange Rates (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1. An entity may carry on foreign activities in two ways. It may have transactions… Read More »

Ind AS 20 Accounting for Government Grants and Disclosure of Government Assistance

By | September 10, 2015

Indian Accounting Standard (Ind AS 20) Accounting for Government Grants and Disclosure of Government Assistance (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Scope 1. This Standard shall be applied in accounting for, and in the disclosure of,… Read More »

IND AS 19 Employee Benefits

By | September 10, 2015

INDIAN ACCOUNTING STANDARD (IND AS 19)  Employee Benefits (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles). Objective The objective of this Standard is to prescribe the accounting and disclosure for employee benefits. The Standard requires an entity to… Read More »

Ind AS 17 Leases

By | September 10, 2015

Indian Accounting Standard (Ind AS 17) Leases (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1. The objective of this Standard is to prescribe, for lessees and lessors, the appropriate accounting policies and disclosure to apply in… Read More »

Ind AS 16 Property, Plant and Equipment

By | September 10, 2015

Indian Accounting Standard (Ind AS 16) Property, Plant and Equipment (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1. The objective of this Standard is to prescribe the accounting treatment for property, plant and equipment so that… Read More »

Ind AS 12 Income Taxes

By | September 10, 2015

Indian Accounting Standard (Ind AS 12) Income Taxes (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective The objective of this Standard is to prescribe the accounting treatment for income taxes. The principal issue in accounting for income… Read More »

Ind AS 10 Events after the Reporting Period

By | September 10, 2015

Indian Accounting Standard (Ind AS 10) Events after the Reporting Period (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1. The objective of this Standard is to prescribe: (a) When an entity should adjust its financial statements… Read More »

Ind AS 8 Accounting Policies, Changes in Accounting Estimates and Errors

By | September 10, 2015

Indian Accounting Standard (Ind AS 8) Accounting Policies, Changes in Accounting Estimates and Errors (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1. The objective of this Standard is to prescribe the criteria for selecting and changing… Read More »

Ind AS 7 Statement of Cash Flows

By | September 10, 2015

Indian Accounting Standard (Ind AS 7) Statement of Cash Flows (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective Information about the cash flows of an entity is useful in providing users of financial statements with a basis… Read More »

Changes in Schedule III to the Companies Act, 2013

By | September 10, 2015

Changes in Schedule III to the Companies Act, 2013 MCA issued a notification dated 4th September, 2013 whereby it has made changes (additional disclosures required for dues payable to micro enterprises and small enterprises) in the Schedule III of the Companies Act, 2013. Schedule III of the Companies Act, 2013 provides “General Instructions for preparation… Read More »