Ind-as

Beyond accounting

Deferment of Ind-AS for banks is a short-term fix

Gearing up for year-end; here are essentials that one should keep in mind

Ind-AS will undergo a significant change with the introduction of proposed accounting standard on revenue recognition and leases

Phased implementation of Ind AS may pose challenges: Report

Under Ind AS, there'll be change in accounting treatment of items such as extended warranty on sales

Ind-AS will reduce cost of doing business globally: Hans Hoogervorst

Interview with Chairman, International Accounting Standards Board

Ind-AS will increase accountability of companies, enlighten investors: Keyur Dave & Siddharth Talwar

In an interview to Business Standard, Siddharth Talwar and Keyur Dave, partners, Grant Thornton India LLP, say that while adoption of Indian Accounting Standards (Ind-AS) may increase the uncertainty of earnings predictability in the short term, it is going to be a tectonic shift in financial reporting and will improve the credence of India among global investors. Excerpts:When India is trying to attract foreign capital, will adoption of Ind-AS not hamper the process as financials could look stretched under the new norms? Siddharth Talwar: One of the objectives of adopting the new accounting standards (Ind-AS), which are at par with international standards (IFRS), was to make the financial statements of Indian companies comparable with their global peers. International investors give far more credence to companies whose financial reporting practices are transparent, fair and reflect the underlying substance of commercial transactions. Being based on the "fair value" concept largely, I

From GAAP to Ind-AS: Impact on sectors

MANUFACTURING| The 211 companies in this sector that adopted Ind-AS took a hit of Rs 1,220 crore on their June 2015 quarter (base quarter) earnings leading to an uptick in earnings growth for June 2016 quarter when compared with the restated June 2015 quarter| Change in measurement of financial instruments and expected credit loss hit their earnings the most by Rs 717 crore and Rs 546 crore, respectively, and was offset partly by deferred tax credit of Rs 372 crore| Tata Steel had a large impact as it reversed gains of Rs 803 crore on sale of equity instruments and charged extra depreciation worth Rs 246 crore| Jindal Steel and Power (JSPL) took a hit of Rs 135 crore on its base quarter earnings due to additional depreciation on plant, property and equipment| Capitalisation of major repairs/capital spares led to an increase of Rs 98 crore in SAIL's base quarter net| Due to the negative impact from adopting Ind-AS, Tata Steel, Jindal Stainless and JSPL recorded deferred tax credits on s

Integrating accounting standards with the world

A Grant Thornton analysis on the impact of Ind-AS on 600-plus companies reveals that their net profit stood reduced by 1.4 per cent in the June 2015 quarter

Sebi eases format of accounting standard applicability

New format to apply to firms that have listed their debt securities and non-cumulative redeemable preference shares on exchanges

The era of Ind-AS is finally here

Diversified companies with numerous subsidiaries including major conglomerates are likely to take a hit

Pad up for a long results season

Companies have begun reaching out analysts to explain impact of Ind-AS implementation

Is corporate India ready for Ind-AS?

Tax and accounting experts assess the gaps in corporate India's reporting standard that need to be plugged