by R. Venkata Subramani | Jul 28, 2016 | Uncategorized
The estimates considered as per Ind ASs at the date of transition should be consistent with the estimates made for the same date as per the previous GAAP. While preparing the financial statements, an entity is required to make estimates depending upon the...
by R. Venkata Subramani | Jul 27, 2016 | Ind AS - Indian Accounting Standards
Two categories of adjustments – Mandatory & Optional Two categories of adjustments to the principle that an entity’s opening Ind AS Balance Sheet shall comply with each Ind AS a) Prohibit retrospective application of some aspects of other Ind ASs [Mandatory...
by R. Venkata Subramani | Jul 25, 2016 | Uncategorized
First Ind AS financial statements are the first and only financial statements in which the entity adopts Ind ASs as per the Ind ASs notified in the Companies Act 2013 and makes an explicit and unreserved statement in those financial statements of compliance...
by R. Venkata Subramani | Jul 21, 2016 | Ind AS - Indian Accounting Standards
Introduction When an entity following accounting standards (AS) as per iGAAP gets transitioned into Ind AS, there would be some challenges faced by the entity. The initial issue is to have a proper starting point for preparation of the accounts as per Ind AS....
by R. Venkata Subramani | Jul 18, 2016 | Training
Training on financial instruments Training on financial instruments and accounting standards for financial instruments are important for all officers of the bank. As an endeavour to enable the banks in India to adopt the complex Indian Accounting Standards, especially...
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