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

As companies gear up to close their books of account for the year ending March 31, 2018, this is the time to ensure that financial statements fully capture the essence of changing the accounting and regulatory environment around us. Here are a few essentials that one should keep in mind:
 
Ind-AS conversion
 
Companies that were covered in the second phase of Ind-AS transition will present their first Ind-AS financial statements for the year ending March 31, 2018. Companies need to carefully choose the accounting policies and several exemptions and options which are only available at the time of