May 2020 examinations have been postponed and will be held from 19th June, 2020 due to the Current Covid -19 situation the ICAI

In continuation to the Important Announcement dated 1st January 2020, it is hereby notified for general information that in view of the ongoing spurt of the Covid-19 pandemic and in…

Continue Reading May 2020 examinations have been postponed and will be held from 19th June, 2020 due to the Current Covid -19 situation the ICAI

Other Intangible Assets Disclosure as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

The company shall disclose the following in the Notes to Accounts: (i) Classification shall be given as: (a) Brands / trademarks; (b) Computer software; (c) Mastheads and publishing titles; (d)…

Continue Reading Other Intangible Assets Disclosure as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

GoodwilL Disclosure as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

Ind AS Schedule III requires a company to present Goodwill as a separate line item on the face of the balance sheet apart from ‘Other Intangible Assets’. Further, it requires…

Continue Reading GoodwilL Disclosure as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

Investment Property Disclosure as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

Ind AS 40, Investment Property defines Investment Property as the property (land or a building—or part of a building—or both) held (by the owner or by the lessee under a…

Continue Reading Investment Property Disclosure as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

Capital work-in-progress Disclosure as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

As per Ind AS Schedule III, capital advances should be included under other non- current assets and hence, cannot be included under capital work-in-progress.

Continue Reading Capital work-in-progress Disclosure as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013