Companies preparing their financial statements have to provide details about their borrowing costs and must abide by the rules prescribed under the Indian accounting standard 23, better known with its short form, Ind As … READ FULL STORY
While presenting their financial statements, corporates are also liable to provide disclosures about their non-current assets. The Indian accounting standard 105 (Ind AS 105) prescribes norms for disclosure of non-current assets held for sale … READ FULL STORY
While preparing their financial statements, companies that enjoy the benefits of government grants, have to disclose such grants and subsidies. Accounting rules to deal with this subject are provided under the Indian accounting standard … READ FULL STORY
The Indian accounting standard 18 (Ind AS 18) prescribes the accounting treatment of revenue arising from certain types of transactions and events. This standard defines revenue as ‘The income that arises in the course … READ FULL STORY
While presenting their financial statements, corporates are also liable to provide disclosures regarding the transactions with their various associates, joint ventures and subsidiaries. The Indian accounting standard 24 (Ind AS 24) prescribes norms to … READ FULL STORY
Indian Accounting Standard 113 (Ind AS 113) helps companies with a unified procedure to define the fair value of assets while declaring their financing statements. The standard, apart from setting a single framework for … READ FULL STORY
While presenting their financial statements, corporates are also liable to provide disclosures about their intangible assets. The Indian accounting standard 38 (Ind AS 38) prescribes norms for making such disclosures. The standard defines intangible … READ FULL STORY
Under the Indian accounting system, specific provisions are also made for accounting of property, plant and equipment (PPE). These provisions are standardised under the Indian accounting standard 16, more popularly known in its abbreviated … READ FULL STORY
The Indian Accounting Standard (Ind-AS) provides business entities in the country with a standardised format, to prepare and review financial statements. These rules, which were notified by the Corporate Affairs Ministry in 2015, also … READ FULL STORY
