Purchases of Stock in Trade as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

Stock-in-trade refers to goods purchased normally with the intention to resell or trade in. In case, any semi-finished goods/materials are purchased with an intention of doing further processing activities on the…

Continue Reading Purchases of Stock in Trade as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

Employee benefits expenses disclosure as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

Employee benefits should be disclosed showing separately salaries and wages, contribution to provident and other funds, share-based payments to employees, staff welfare expenses

Continue Reading Employee benefits expenses disclosure as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

Securities Premium Reserve disclosure as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

Meaning :The excess of the issue price of shares over their face value It is an integral part of other Equity and shows under the head reserve and surplus after…

Continue Reading Securities Premium Reserve disclosure as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

Cash and cash equivalents and bank balances other than cash and cash equivalents as per Division II – Ind AS Schedule III to the Companies Act 2013

(i) Cash and cash equivalents shall be classified as: (a) Balances with banks (of the nature of cash and cash equivalents); (b) Cheques, drafts on hand; (c) Cash on hand;           …

Continue Reading Cash and cash equivalents and bank balances other than cash and cash equivalents as per Division II – Ind AS Schedule III to the Companies Act 2013

Application Money Paid Towards Securities Disclosure as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013

Any application money paid towards securities, where security has not been allotted on the date of the Balance Sheet, shall be disclosed as a separate line item under ‘other non-current…

Continue Reading Application Money Paid Towards Securities Disclosure as per Ind AS for preparing Financial Statement as per Division II – Ind AS Schedule III to the Companies Act 2013