Tag: Practice of Life Insurance Osmania University B.com Notes

31/08/2021 0

Ind AS-28: Investments in Associate and Joint Ventures

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IAS 28 Investments in Associates and Joint Ventures (as amended in 2011) outlines how to apply, with certain limited exceptions,…

31/08/2021 0

Ind AS-103: Business Combinations

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Ind AS 103 “Business Combinations” deals with the accounting for business combinations in standalone as well as consolidated financial statements.…

31/08/2021 0

Joint Arrangements (Ind AS 111) Scope, Assessment, Types of Joint Arrangements

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Ind AS 111 governs the accounting for joint arrangements, requiring entities to classify their interests as either joint operations or joint ventures based on rights to assets and obligations for liabilities. The standard mandates rigorous assessment of the arrangement’s structure, focusing on shared control, and outlines specific accounting treatments for each type, ensuring transparency and consistency in financial reporting.

31/08/2021 1

Ind AS-112: Disclosure of interest in other entities

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Indian Accounting Standard (Ind AS) 112, Disclosure of Interest in Other Entities requires the entity to provide users with information…

30/08/2021 0

Ind AS-11: Construction contracts

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The Standard shall be applied in accounting for construction contracts in the financial statements of contractors. A construction contract is…

30/08/2021 1

Ind AS-12: Income tax

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Ind AS 12, “Income Taxes,” specifies the accounting treatment for income taxes. The standard requires the application of the balance…

30/08/2021 1

Ind AS-16: Property, Plant and Equipment

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Ind AS 16 Property Plant Equipment is applicable to all Property and P&E (Plant & Equipment) unless and until any…

30/08/2021 1

Ind AS-17: Leases

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Ind AS-17: Leases Lessee Accounting: Initial recognition: A Lessee is required to recognise a right of use asset representing its…

30/08/2021 0

Ind AS-18: Revenue

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IAS 18 Revenue outlines the accounting requirements for when to recognise revenue from the sale of goods, rendering of services,…

30/08/2021 0

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

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Government grants are assistance by government in the form of transfers of resources to an entity in return for past…