IND-AS TRAINING
The Ministry of Corporate Affairs (MCA) notified 39 Indian Accounting Standards (Ind AS) converged with the International Financial Reporting Standards (IFRS) on 16 February 2015. Ind AS will be applied based on the listing status and net worth of a company. The first phase includes listed and unlisted companies with a net worth equal to or exceeding 500 crore INR (including the holding, subsidiary, joint venture and associate of such companies). The second phase includes all listed companies and unlisted companies with a net worth equal to or exceeding 250 crore INR. India Inc’s successful transition to Ind AS - the new accounting framework based on International Financial Reporting Standards (IFRS) during the period 2016-2018, marks the first step towards convergence to IFRS. , all holdings, subsidiaries, joint ventures and associates of such companies are also required to comply with Ind AS in the preparation of their financial statements from the transition date.Transition to Ind AS will have significant accounting and business implications. Ind AS being the new language of accounting and reporting, it is critical for every accounting professional to stay updated and enhance their accounting knowledge Program in Ind-AS training program has been designed to help corporate and practicing professionals deal with new regulatory requirements, increase their awareness and develop an understanding of the new standards.
THIS PROGRAM INCLUDES
An understanding of the key concepts of various Ind AS:
- 1. An understanding of the key differences between Ind AS and the existing Indian Accounting Standards & IFRS;
- 2. Basics of fair valuation;
- 3. Apart from comprehensive theoretical aspects, our workshop is designed to sharpen the accounting knowledge of participants through practical illustrations.
BEST PRACTICES
- 1. Ind AS 115: Revenue from contracts with customers
- 2. Ind AS 116: Leases
- 3. Ind AS 110: Consolidated Financial statements
- 4. Ind AS 103: Business Combinations
- 5. Ind AS 111: Joint Arrangements
- 6. Ind AS 12: Income Taxes
- 7. IndAS 101: First time adoption of Ind AS
- 8. Ind AS 108: Operating segments
- 9. Ind AS 32: Financial Instruments – Presentation
- 10. Ind AS 109: Financial Instruments
- 11. Ind AS 107: Financial Instruments - Disclosures
- 12. Ind AS 24: Related Party Disclosures
- 13. Ind AS 34: Interim Financial Statements
- 14. Ind AS 40: Agriculture
- 15. Ind AS 2: Inventories
- 16. Ind AS 10: Events after the date of reporting date
- 17. Ind AS 106: Exploration for and evaluation of Mineral Resources
ASSETS RELATED STANDARDS
- 1. Ind AS 16: Property, Plant and Equipment
- 2. Ind AS 20: Accounting for Government Grants and Government Assistance
- 3. Ind AS 40: Investment Property
- 4. Ind AS 105: Non-Current Assets Held for Sale and Discontinued Operations
OTHER STANDARDS
- 1. Ind AS 1: Presentation of Financial Statements
- 2. Ind AS 8: Accounting Policies, Changes in Accounting Estimates and Errors
- 3. Ind AS 10: Events after the Reporting Date
- 4. Ind AS 21: The Effects of Changes in Foreign Exchange Rates
- 5. Ind AS 37: Provisions, Contingent Liabilities and Contingent Assets
