Ind AS Practices Demystified - Audio/Video Book
- Year of Publication: 2022
- ISBN: 0
- No.of Pages: 302
This special book consists of 28 comprehensible audios and videos each, exclusively recorded by the author himself, on labyrinthine accounting issues under Ind AS. In these riveting audios and videos, the author, (i) lucidly explicates intricate Ind AS accounting on varied topics with easy-to-understand illustrations and scheme of journal entries, (ii) provides practical insights by turning his gaze to real life implementation experiences by companies applying Ind AS, (iii) draws attention to real life instances of accounting under International Financial Reporting Standards (IFRS) and US GAAP (where relevant), and (iv) navigates through the extracts of financial statements/ financial results of listed companies on specific topics.
Key matters covered in the audiobook include:-
- Minimum Alternate Tax (MAT) implication under Ind AS.
- Ind AS application issues related to liabilities viz. warranty obligations, deferred tax on intra-group transactions and CSR obligation.
- Ind AS application issues related to income and expense viz. deferral of revenue, principal versus agent assessment, sales incentives, recognition of non-refundable upfront fees, sales returns, etc.
- Various financial instruments viz. lease and other similar deposits, financial guarantees, treasury shares, embedded derivatives, etc.
- Business combinations and consolidation matters viz. concept of control, business combination accounting under Ind AS 103, common control business combinations and measurement of contingent consideration.
- Sector-specific Ind AS accounting issues viz. service concession arrangements, biological assets under Ind AS 41 and accounting in the real estate sector.
- Financial reporting and auditing aspects in the Covid-19 scenario, with special emphasis on expected credit loss assessment under Ind AS 109.
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.
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)
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- Year of Publication: 2022
- ISBN: 0
- No.of Pages: 302
This special book consists of 28 comprehensible audios and videos each, exclusively recorded by the author himself, on labyrinthine accounting issues under Ind AS. In these riveting audios and videos, the author, (i) lucidly explicates intricate Ind AS accounting on varied topics with easy-to-understand illustrations and scheme of journal entries, (ii) provides practical insights by turning his gaze to real life implementation experiences by companies applying Ind AS, (iii) draws attention to real life instances of accounting under International Financial Reporting Standards (IFRS) and US GAAP (where relevant), and (iv) navigates through the extracts of financial statements/ financial results of listed companies on specific topics.
Key matters covered in the audiobook include:-
- Minimum Alternate Tax (MAT) implication under Ind AS.
- Ind AS application issues related to liabilities viz. warranty obligations, deferred tax on intra-group transactions and CSR obligation.
- Ind AS application issues related to income and expense viz. deferral of revenue, principal versus agent assessment, sales incentives, recognition of non-refundable upfront fees, sales returns, etc.
- Various financial instruments viz. lease and other similar deposits, financial guarantees, treasury shares, embedded derivatives, etc.
- Business combinations and consolidation matters viz. concept of control, business combination accounting under Ind AS 103, common control business combinations and measurement of contingent consideration.
- Sector-specific Ind AS accounting issues viz. service concession arrangements, biological assets under Ind AS 41 and accounting in the real estate sector.
- Financial reporting and auditing aspects in the Covid-19 scenario, with special emphasis on expected credit loss assessment under Ind AS 109.
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.
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)
