Web(b) recognition of lease income from investment property (see also Ind AS 115, Revenue from Contracts with Customers); Prior to substitution in 2024, the sub-paragraph read as … WebMar 23, 2024 · Financial asset (amount of consideration to be received from the grantor is a financial asset as per Ind AS 109): ... Rs. 4 crores plus 10% Margin per year. Whereas the actual revenue was Rs. 1 crore plus 10% Margin, therefore this way revenue is being booked twice. Subsequent measurement: operator should amortise the intangible asset over the ...
Dhruvesh Kapadia - Manager, Financial Control and Technical
WebAs per the AS 9 Revenue Recognition issued by ICAI “Revenue is the gross inflow of cash, ... ... WebI was instrumental in assisting clients in implementing the new revenue recognition and new lease standards per US GAAP, IndAS and IFRS. I earned my Bachelor of Commerce degree from the University of Mumbai, India and am an Associate Member of the Institute of Chartered Accountants of India (ICAI). sharon lester tennis center at piedmont park
Ankur Mittal - Faculty - Vidhya Sagar Institute LinkedIn
This Standard should be applied in accounting for revenue arising from the following transactions: 1. Sale of goods 2. Rendering of Services 3. Use of entity assets yielding Interest, Royalties or Dividends See more Revenue is measured at FV of the consideration received or receivable after deducting trade discounts and rebates. When the inflow of cash (or cash equivalents) is deferred, FV can be less than the nominal … See more This standard is usually separately applied to each transaction but to reflect the substance of the transaction, it can be applied to separately … See more Recognise revenue from the sale of goods when all below conditions are met: 1. Transfer of significant risks and rewards of ownership 2. Neither continuing managerial involvement nor effective control 3. Probable … See more Web(As per AS 2/Ind As 2) • Analysis and review of Revenue Recognition as per AS 9/IND AS 115. • Assisted in Stock Audit & Preparation of Stock Audit Report. • Checking compliance of section 135,184,185,186 of companies’ act 2013. • Branch Statutory Audit. (SBI Bank) - KYC Compliance, Compliance with RBI Norms and Policy. - Checking NPA ... WebApr 1, 2024 · Financial assets has been classified into three categories as per Ind AS 109: ... On initial recognition, the market rate of interest for a five year loan with payment of interest at maturity is 10% per year. ... He is well versed with all the matters related to Income Tax, GST, Ind-AS, Company Law and ROC matters, Financial Analysis, Project ... sharon lessig obituary