Ind AS Practices Demystified (5th Edition)
- Year of Publication: 2021
- Edition: 5th
- ISBN: 978-93-90854-88-2
- No.of Pages: 1282
Ind AS transition had significant impact on, not only, the financial results of many of these companies, but has also caused far reaching consequential business impact. Many companies reported a change in their key financial ratios, such as, earnings per share, price-earnings ratio, return on capital employed and gross margin ratio. The new requirements under Ind AS with regards to classification of debt and equity caused changes, such as, net worth, debt-equity ratio and interest coverage ratios. In many cases, there have been significant regulatory issues, such as power and infrastructure companies potentially meeting the criteria for NBFCs, control assessment under Ind AS being different from that under regulations such as Companies Act, IRDA, SEBI takeover code, etc.
Towards this end, this book attempts to provide insights on how notable phase I companies and early adopters of Ind AS have transitioned to Ind AS. To simplify the matters the book is structured in three parts, mentioned as below:
Part I – The book starts with Part I (Ind AS Summaries) covering Ind AS summaries that provide snapshots of key aspects of all Ind AS standards in an easy to understand, concise and simplified manner.
Part II – This part deals with key practical issues arising under Ind AS along with, perhaps, more importantly, the real-life instances of the issue amongst leading Indian and international companies. The endeavor is to explain complex requirements, including financial instruments and business combinations, in a lucid manner with simple examples and journal entries, followed by extracts from financial statements/results of companies demonstrating their experiences on dealing with the issue, along with Author’s view.
Ind AS contains extensive presentation and disclosure requirements. Part II includes a separate chapter dedicated to Ind AS presentation and disclosure requirements alongwith extracts from real-life Ind AS financial statements/results of leading Indian companies as also from IFRS financial statements of major international companies.
The author is an Associate Chartered Accountant, having secured rank in CA exams, with about 18 years of extensive experience in Accounting, Audit and Assurance fields. He has worked with several diverse companies, Indian and multinational companies, on IFRS and Ind AS GAAP conversion engagements, in India and overseas, in manufacturing, telecom, real estate, shipping and logistics. He has been a member of IFRS desk/accounting technical professional practice group of a big audit firm for over 8 years. He had a working experience in London, during which he was closely associated with the IFRS standard-setting projects of the International Accounting Standards Board.
The author, an alumnus of the Indian School of Business, Hyderabad, has been serving as a special invitee for Ind AS on ICAI’s Accounting Standards Board and has been part of many study groups of the ICAI. He has authored several media articles on Accounting and Valuation and has been an eminent speaker on financial reporting and corporate governance, having conducted technical trainings.
About Taxsutra:
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
About Bharat Law House Pvt Ltd
Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.
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- Year of Publication: 2021
- Edition: 5th
- ISBN: 978-93-90854-88-2
- No.of Pages: 1282
Ind AS transition had significant impact on, not only, the financial results of many of these companies, but has also caused far reaching consequential business impact. Many companies reported a change in their key financial ratios, such as, earnings per share, price-earnings ratio, return on capital employed and gross margin ratio. The new requirements under Ind AS with regards to classification of debt and equity caused changes, such as, net worth, debt-equity ratio and interest coverage ratios. In many cases, there have been significant regulatory issues, such as power and infrastructure companies potentially meeting the criteria for NBFCs, control assessment under Ind AS being different from that under regulations such as Companies Act, IRDA, SEBI takeover code, etc.
Towards this end, this book attempts to provide insights on how notable phase I companies and early adopters of Ind AS have transitioned to Ind AS. To simplify the matters the book is structured in three parts, mentioned as below:
Part I – The book starts with Part I (Ind AS Summaries) covering Ind AS summaries that provide snapshots of key aspects of all Ind AS standards in an easy to understand, concise and simplified manner.
Part II – This part deals with key practical issues arising under Ind AS along with, perhaps, more importantly, the real-life instances of the issue amongst leading Indian and international companies. The endeavor is to explain complex requirements, including financial instruments and business combinations, in a lucid manner with simple examples and journal entries, followed by extracts from financial statements/results of companies demonstrating their experiences on dealing with the issue, along with Author’s view.
Ind AS contains extensive presentation and disclosure requirements. Part II includes a separate chapter dedicated to Ind AS presentation and disclosure requirements alongwith extracts from real-life Ind AS financial statements/results of leading Indian companies as also from IFRS financial statements of major international companies.
The author is an Associate Chartered Accountant, having secured rank in CA exams, with about 18 years of extensive experience in Accounting, Audit and Assurance fields. He has worked with several diverse companies, Indian and multinational companies, on IFRS and Ind AS GAAP conversion engagements, in India and overseas, in manufacturing, telecom, real estate, shipping and logistics. He has been a member of IFRS desk/accounting technical professional practice group of a big audit firm for over 8 years. He had a working experience in London, during which he was closely associated with the IFRS standard-setting projects of the International Accounting Standards Board.
The author, an alumnus of the Indian School of Business, Hyderabad, has been serving as a special invitee for Ind AS on ICAI’s Accounting Standards Board and has been part of many study groups of the ICAI. He has authored several media articles on Accounting and Valuation and has been an eminent speaker on financial reporting and corporate governance, having conducted technical trainings.
About Taxsutra:
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
About Bharat Law House Pvt Ltd
Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.
