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Indian Accounting Standards

In the Union Budget for FY22, no funds were earmarked for recapitalising state-run banks. This was a decadal first, and will temper their eagerness to lend

Updated On: 01 Jan 2023 | 7:27 PM IST

In a Q&A, the head of the apex body of chartered accountants in the UK discusses the challenge of sustainability and other issues her tribe faces across the globe

Updated On: 21 Nov 2022 | 9:12 PM IST

Khara said the accounting profession has contributed to identifying the quality of assets that are sitting in the books of various banks

Updated On: 20 Nov 2022 | 11:20 PM IST

Capital markets regulator Sebi came out with guidelines for asset management companies (AMCs) with respect to following Indian Accounting Standards (Ind AS)

Updated On: 04 Feb 2022 | 7:17 PM IST

Ind AS are converged with the International Financial Reporting Standards (IFRS).

Updated On: 19 Jun 2021 | 8:56 PM IST

Extended dispensation on capital conservation buffer and SLR holding in HTM instruments point at a delay in adoption

Updated On: 06 Feb 2021 | 12:06 AM IST

Ind-AS 103, 116 and some other standards have been amended by the Corporate Affairs Ministry

Updated On: 26 Jul 2020 | 7:15 PM IST

The loan loss provisioning as required by the new Indian Accounting Standards (IndAS) is expected to have a significant impact on banks' earnings and return on equity. Financial year 2017-18 will be the first one where they will be required to report their financial statements under IndAS. The requirements are in line with the global International Financial Reporting Standards (IFRS)-9. Till now, banks calculated the loss provisions on their loan portfolios based on the guidelines issued by Reserve Bank of India (RBI). These prescribe a percentage-based provisioning methodology, after an asset is overdue for a minimum number of days. However, under IndAS, the impairment provisions need to be computed on the expected credit loss (ECL) methodology, by categorising the loans in three stages. Apart from borrower-specific factors, these also considers forward-looking, macro economic factors that have a bearing on recoverability of the loans."The existing provisioning required by the RBI ...

Updated On: 13 Jan 2018 | 7:51 PM IST

Ind-AS is based on IFRS that actually stands for International Financial Reporting Standards

Updated On: 17 Sep 2017 | 11:16 PM IST

Companies in construction, engineering and infra sectors were hit the most with profit down 117.5%

Updated On: 07 Sep 2017 | 9:32 PM IST

This is so because these are already adjusted to book profits under minimum alternate tax

Updated On: 26 Jul 2017 | 2:13 AM IST

Switch to IndAS may increase debts on the books of firms

Updated On: 28 Jun 2017 | 2:56 AM IST

The prospect is already disturbing the uneasy truce between local firms and the global accounting networks operating out of India

Updated On: 28 Aug 2016 | 10:08 PM IST

More than 50% of the respondents are yet to plan or commence implementing changes at an organisational level

Updated On: 20 Mar 2016 | 12:22 PM IST