Overview of Ind As 1201

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Overview of Indian
Overview of Indian
Accounting Standards
Accounting Standards
(
(
Ind AS
Ind AS
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)
CA Rajkumar S Adukia CA Rajkumar S Adukia
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What is Ind AS?
What is Ind AS?
Indian Accounting Standards
Indian Accounting Standards
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1-
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11
Ma%o$ 5$inci5es o8 IFRSs
Ma%o$ 5$inci5es o8 IFRSs
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Fai$ 3a'e ess es6ima6e! Fai$ 3a'e ess es6ima6e!
5oin69o89saes cos6s 5oin69o89saes cos6s
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1/
Meas'$emen6 o8 Financia
Asse6s
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!ia)i(it% !ia)i(it%
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3a'e 3a'e
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Accounting Standard $oard,
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inc'!in4 6:eIFRS 8o$ SM=san! 8o$
inc'!in4 6:eIFRS 8o$ SM=san! 8o$
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Commi66ee (8o$me$7 cae! 6:e IFRIC)
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1C
The I"- AS !iterature
Preface to the Statements of Accounting

Preface to the Statements of Accounting
Standards
Standards
se6s o'6
se6s o'6
ASBMs mission an! o)%ec6i3es

ASBMs mission an! o)%ec6i3es
Sco5e o8 In! AS
Sco5e o8 In! AS
D'e 5$ocess 8o$ !e3eo5in4 I?D AS

D'e 5$ocess 8o$ !e3eo5in4 I?D AS
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Poicies on e88ec6i3e !a6es, 8o$ma6, an!

Poicies on e88ec6i3e !a6es, 8o$ma6, an!
an4'a4e 8o$ I?D AS
an4'a4e 8o$ I?D AS
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1,
Framework for the Preparation and Presentation

Framework for the Preparation and Presentation
of Financial Statements
of Financial Statements

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se6s o'6 )asic 5$inci5es o8 $eco4ni6ion an! se6s o'6 )asic 5$inci5es o8 $eco4ni6ion an!
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1. 1. In! AS 1*1 B'siness Com)ina6ions In! AS 1*1 B'siness Com)ina6ions
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11. 11.
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1-. 1-.
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Acco'n6in4 =s6ima6es an! =$$o$s
11. 11.
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In! AS 1C Leases
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1,. 1,.
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@$an6s an! Discos'$e o8 @o3e$nmen6
Assis6ance
Assis6ance
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In! AS -1 2:e =88ec6s o8 C:an4es in
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In! AS -1 Bo$$owin4 Cos6s
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In! AS -/ Rea6e! Pa$67 Discos'$es
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In! AS -C Consoi!a6e! an! Se5a$a6e
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Financia S6a6emen6s
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In! AS -, In3es6men6s in Associa6es
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In! AS -+ Financia Re5o$6in4 in
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H75e$in8a6iona$7 =conomies
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In! AS 11 In6e$es6s in Hoin6 Den6'$es
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In! AS 1- Financia Ins6$'men6s"
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1*. 1*.
In! AS 1/ In6e$im Financia Re5o$6in4
In! AS 1/ In6e$im Financia Re5o$6in4
11. 11.
In! AS 1. Im5ai$men6 o8 Asse6s
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In! AS 1C P$o3isions, Con6in4en6 Lia)ii6ies
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In! AS 1, In6an4i)e Asse6s
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In! AS 1+ Financia Ins6$'men6s" Reco4ni6ion
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( A55ica)e SIC an! IFRIC 8o$m 5a$6 o8 6:e
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Accounting Standard $oard
Accounting Standard $oard
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ICAI cons6i6'6e! ASB on

ICAI cons6i6'6e! ASB on
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2:e com5osi6ion o8 6:e ASB is 8ai$7 )$oa!9

2:e com5osi6ion o8 6:e ASB is 8ai$7 )$oa!9
)ase! an! ens'$es 5a$6ici5a6ion o8 a in6e$es69
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4$o'5s in 6:e s6an!a$!9se66in4 5$ocess.
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ASB 5$o5a4a6es an! 5e$s'a!es conce$ne!

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5a$6ies 6o a!o56 In! AS in 6:e 5$e5a$a6ion an!
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5$esen6a6ion o8 Financia S6a6emen6s
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A&&(ica)i(it% of Ind AS
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@ene$a P'$5ose Financia S6a6emen6s an!

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E6:e$ Financia Re5o$6in4.

E6:e$ Financia Re5o$6in4.
In $es5ec6 o8 an7 en6e$5$ise

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Acco'n6in4 S6an!a$!s wi no6 a557 6o

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en6e$5$ises on7 ca$$7in4 on 6:e ac6i3i6ies

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)'siness na6'$e,
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(e.4., an ac6i3i67 o8 coec6in4 !ona6ions an!

(e.4., an ac6i3i67 o8 coec6in4 !ona6ions an!
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=3en i8 a 3e$7 sma 5$o5o$6ion o8 6:e

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a557 6o a i6s ac6i3i6ies inc'!in4 6:ose
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In! AS
In! AS
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In! AS on @$o'5 Re5o$6in4
In! AS on @$o'5 Re5o$6in4
Standard "um)er Standard "um)er Standard "ame Standard "ame
Ind AS 103 Ind AS 103 Business Combinations Business Combinations
Ind AS ./ Ind AS ./
Consolidated and separate financial statements Consolidated and separate financial statements
Ind AS .0 Ind AS .0
Investment in Associates Investment in Associates
Ind AS 12 Ind AS 12
Interest in joint ventures Interest in joint ventures
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In! AS on Asse6s
In! AS on Asse6s
Standard "um)er Standard "um)er Standard "ame Standard "ame
Ind AS . Ind AS .
Inventories Inventories
Ind AS 23 Ind AS 23
Property, Plant & !uipment Property, Plant & !uipment
Ind AS 45 Ind AS 45
Investment Property Investment Property
Ind AS 10 Ind AS 10
Intan"ible Assets Intan"ible Assets
Ind AS 1.6 Ind AS Ind AS 1.6 Ind AS
176 Ind AS 25/6 Ind 176 Ind AS 25/6 Ind
AS 257 AS 257
#inancial Assets #inancial Assets
Ind AS 258 Ind AS 258
$on%Current Assets &eld for sale & 'iscontinued operations $on%Current Assets &eld for sale & 'iscontinued operations
IAS 2/ IAS 2/
(eases (eases
Ind AS 253 Ind AS 253
)ploration and valuation of *ineral Assets )ploration and valuation of *ineral Assets
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In! AS 1-9 Income 2a<es In! AS 1-9 Income 2a<es
In! AS 1+ A =m5o7ee Bene8i6s In! AS 1+ A =m5o7ee Bene8i6s
In!9AS 1C A P$o3isions, Con6in4en6 Lia)ii6ies an! Con6in4en6 Asse6s In!9AS 1C A P$o3isions, Con6in4en6 Lia)ii6ies an! Con6in4en6 Asse6s
In! AS 1*-9 S:a$e9)ase! Pa7men6 In! AS 1*-9 S:a$e9)ase! Pa7men6

In! AS on =<5enses &
In! AS on =<5enses &
Lia)ii6ies
Lia)ii6ies
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Financia Asse6s & Financia Lia)ii6ies Financia Asse6s & Financia Lia)ii6ies
In! AS 1- Financia Ins6$'men6s" P$esen6a6ion In! AS 1- Financia Ins6$'men6s" P$esen6a6ion
In! AS 1+ Financia Ins6$'men6s" Reco4ni6ion an! Meas'$emen6 In! AS 1+ Financia Ins6$'men6s" Reco4ni6ion an! Meas'$emen6
In! AS 1*C Financia Ins6$'men6s" Discos'$e In! AS 1*C Financia Ins6$'men6s" Discos'$e
In! AS on Financia Ins6$'men6s
In! AS on Financia Ins6$'men6s
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In! ASs on income
In! ASs on income
Cons6$'c6ion Con6$ac6s (In! AS 11)

Cons6$'c6ion Con6$ac6s (In! AS 11)
Re3en'e (In! AS 1,)

Re3en'e (In! AS 1,)
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In! ASs on Discos'$e
In! ASs on Discos'$e

In! AS 1*, E5e$a6in4 Se4men6s

In! AS 1*, E5e$a6in4 Se4men6s
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In!'s6$7 S5eci8ic In! ASs
In!'s6$7 S5eci8ic In! ASs
In! AS 1*/ Ins'$ance Con6$ac6s

In! AS 1*/ Ins'$ance Con6$ac6s
In! AS 1*. =<5o$a6ion & =3a'a6ion o8

In! AS 1*. =<5o$a6ion & =3a'a6ion o8
Mine$a Reso'$ces
Mine$a Reso'$ces
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In! ASs on Financia $e5o$6in4
In! ASs on Financia $e5o$6in4
Se5a$a6e 8inancia s6a6emen6s

Se5a$a6e 8inancia s6a6emen6s
In! AS 1,C,,,1*,-1,-+,11
In! AS 1,C,,,1*,-1,-+,11
In6e$im 8inancia $e5o$6in4

In6e$im 8inancia $e5o$6in4
In! AS 1/
In! AS 1/
Consoi!a6e! 8inancia s6a6emen6s

Consoi!a6e! 8inancia s6a6emen6s
In! AS 1*1,In! AS -C,-,,11

In! AS 1*1,In! AS -C,-,,11
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Sco&e of Accounting Standards
Accounting Standards are

Accounting Standards are
4ene$a7
4ene$a7
in
in
conformit% with the &rovisions of the
conformit% with the &rovisions of the
a&&(ica)(e (aws
a&&(ica)(e (aws
, c's6oms, 'sa4es an!
, c's6oms, 'sa4es an!
)'siness en3i$onmen6 in In!ia.
)'siness en3i$onmen6 in In!ia.
I8 a 5a$6ic'a$ Acco'n6in4 S6an!a$! is

I8 a 5a$6ic'a$ Acco'n6in4 S6an!a$! is
8o'n! 6o )e no6 in con8o$mi67 wi6: aw, 6:e
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&rovisions of the said (aw wi(( &revai(
&rovisions of the said (aw wi(( &revai(

an! 6:e 8inancia s6a6emen6s s:o'! )e
an! 6:e 8inancia s6a6emen6s s:o'! )e
5$e5a$e! in con8o$mi67 wi6: s'c: aw.
5$e5a$e! in con8o$mi67 wi6: s'c: aw.
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2:e Acco'n6in4 S6an!a$!s a$e in6en!e! 6o

2:e Acco'n6in4 S6an!a$!s a$e in6en!e! 6o
a557 on7 6o i6ems w:ic: a$e
a557 on7 6o i6ems w:ic: a$e
materia(
materia(
?o s6an!a$! wi :a3e $e6$oac6i3e

?o s6an!a$! wi :a3e $e6$oac6i3e
a55ica6ion, 'ness o6:e$wise s6a6e!.
a55ica6ion, 'ness o6:e$wise s6a6e!.
2:e !a6e 8$om w:ic: a 5a$6ic'a$ S6an!a$!

2:e !a6e 8$om w:ic: a 5a$6ic'a$ S6an!a$!
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aso )e s5eci8ie! )7 6:e ICAI.
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An en6i67 s:a a557 6:is In!9AS in"

An en6i67 s:a a557 6:is In!9AS in"
(a) i6s 8i$s6 In!9AS 8inancia s6a6emen6s an!

(a) i6s 8i$s6 In!9AS 8inancia s6a6emen6s an!
()) eac: in6e$im 8inancia $e5o$6, i8 an7, 6:a6

()) eac: in6e$im 8inancia $e5o$6, i8 an7, 6:a6
i6 5$esen6s in acco$!ance wi6: In! AS 1/
i6 5$esen6s in acco$!ance wi6: In! AS 1/
Interim Financial Reporting
Interim Financial Reporting
8o$ 5a$6 o8 6:e
8o$ 5a$6 o8 6:e
5e$io! co3e$e! )7 i6s 8i$s6 In!9AS 8inancia
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s6a6emen6s.
s6a6emen6s.
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"eed for Accounting Standards
"eed for Accounting Standards
Acco'n6in4 S6an!a$!s a$e 8o$m'a6e! wi6: a 3iew 6o Acco'n6in4 S6an!a$!s a$e 8o$m'a6e! wi6: a 3iew 6o
harmonise different accounting &o(icies harmonise different accounting &o(icies an! an!
5$ac6ices in 'se in a In!ia. 5$ac6ices in 'se in a In!ia.
Reduce the use of a(ternative accounting Reduce the use of a(ternative accounting
&ractices &ractices 6o ens'$e com5a$a)ii67 o8 Financia 6o ens'$e com5a$a)ii67 o8 Financia
S6a6emen6s S6a6emen6s
2:e Acco'n6in4 S6an!a$!s a$e iss'e! wi6: a 3iew 6o 2:e Acco'n6in4 S6an!a$!s a$e iss'e! wi6: a 3iew 6o
descri)e the accounting &rinci&(es descri)e the accounting &rinci&(es an! 6:e an! 6:e
me6:o!s o8 a557in4 6:ese 5$inci5es in 6:e me6:o!s o8 a557in4 6:ese 5$inci5es in 6:e
5$e5a$a6ion an! 5$esen6a6ion o8 8inancia s6a6emen6s 5$e5a$a6ion an! 5$esen6a6ion o8 8inancia s6a6emen6s
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O)jective of Financia( Statement
O)jective of Financia( Statement
Is 6o :e5 5$o3i!e
Is 6o :e5 5$o3i!e
In8o$ma6ion a)o'6 8inancia 5osi6ion is

In8o$ma6ion a)o'6 8inancia 5osi6ion is
5$ima$i7 5$o3i!e! in a
5$ima$i7 5$o3i!e! in a
)a(ance sheet9
)a(ance sheet9
In8o$ma6ion a)o'6 5e$8o$mance is 5$ima$i7

In8o$ma6ion a)o'6 5e$8o$mance is 5$ima$i7
5$o3i!e! in a
5$o3i!e! in a
statement of &rofit and
statement of &rofit and
(oss
(oss
In8o$ma6ion a)o'6 cas: 8ows is 5$o3i!e! in

In8o$ma6ion a)o'6 cas: 8ows is 5$o3i!e! in
6:e 8inancia s6a6emen6s )7 means o8 a
6:e 8inancia s6a6emen6s )7 means o8 a
cash f(ow statement9
cash f(ow statement9
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$asic Assum&tions in the
$asic Assum&tions in the
:re&aration of Financia(
:re&aration of Financia(
Statements
Statements
Acc$'a Basis
Acc$'a Basis
@oin4 Conce$n
@oin4 Conce$n
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Com&onents of Financia(
Statements
Statements
I?D AS 1.1* !e6ais a se6 o8 Financia S6a6emen6s 6o )e I?D AS 1.1* !e6ais a se6 o8 Financia S6a6emen6s 6o )e
com5$ise! o8 6:e 8oowin4" com5$ise! o8 6:e 8oowin4"
A com5e6e se6 o8 8inancia s6a6emen6s com5$ises" A com5e6e se6 o8 8inancia s6a6emen6s com5$ises"
(a) A )aance s:ee6 as a6 6:e en! o8 6:e 5e$io! (inc'!in4 (a) A )aance s:ee6 as a6 6:e en! o8 6:e 5e$io! (inc'!in4
s6a6emen6 o8 c:an4es in e>'i67 w:ic: is 5$esen6e! as a s6a6emen6 o8 c:an4es in e>'i67 w:ic: is 5$esen6e! as a
5a$6 o8 6:e )aance s:ee6 )O 5a$6 o8 6:e )aance s:ee6 )O
()) A s6a6emen6 o8 5$o8i6 an! oss 8o$ 6:e 5e$io!O ()) A s6a6emen6 o8 5$o8i6 an! oss 8o$ 6:e 5e$io!O
(c) (Pa$a4$a5: 1*(c) o8 IAS 1 is wi6: $e8e$ence 6o 6:e (c) (Pa$a4$a5: 1*(c) o8 IAS 1 is wi6: $e8e$ence 6o 6:e
se5a$a6e s6a6emen6 o8 c:an4es in e>'i67. As In! AS 1 se5a$a6e s6a6emen6 o8 c:an4es in e>'i67. As In! AS 1
!oes no6 $e>'i$e i6, 6:e same is !ee6e!. Howe3e$, !oes no6 $e>'i$e i6, 6:e same is !ee6e!. Howe3e$,
5a$a4$a5: n'm)e$ 1*(c) :as )een $e6aine! in In! AS 1 5a$a4$a5: n'm)e$ 1*(c) :as )een $e6aine! in In! AS 1
6o main6ain consis6enc7 wi6: 5a$a4$a5: n'm)e$s o8 IAS 6o main6ain consis6enc7 wi6: 5a$a4$a5: n'm)e$s o8 IAS
1) 1)
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Statements
Statements
(!) A s6a6emen6 o8 cas: 8ows 8o$ 6:e 5e$io!O
(!) A s6a6emen6 o8 cas: 8ows 8o$ 6:e 5e$io!O
(e) ?o6es, com5$isin4 a s'mma$7 o8 si4ni8ican6
(e) ?o6es, com5$isin4 a s'mma$7 o8 si4ni8ican6
acco'n6in4 5oicies an! o6:e$ e<5ana6o$7
acco'n6in4 5oicies an! o6:e$ e<5ana6o$7
in8o$ma6ionO an!
in8o$ma6ionO an!
(8) A )aance s:ee6 as a6 6:e )e4innin4 o8 6:e
(8) A )aance s:ee6 as a6 6:e )e4innin4 o8 6:e
ea$ies6 com5a$a6i3e 5e$io! w:en an en6i67
ea$ies6 com5a$a6i3e 5e$io! w:en an en6i67
a55ies an acco'n6in4 5oic7 $e6$os5ec6i3e7 o$
a55ies an acco'n6in4 5oic7 $e6$os5ec6i3e7 o$
ma&es a $e6$os5ec6i3e $es6a6emen6 o8 i6ems in i6s
ma&es a $e6$os5ec6i3e $es6a6emen6 o8 i6ems in i6s
8inancia s6a6emen6s, o$ w:en i6 $ecassi8ies i6ems
8inancia s6a6emen6s, o$ w:en i6 $ecassi8ies i6ems
in i6s 8inancia s6a6emen6s.
in i6s 8inancia s6a6emen6s.
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Com&(iance with Ind AS
Acco'n6in4 S6an!a$!s iss'e! )7 6:e ICAI

:a3e e4a
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recognition through the
recognition through the
Com&anies Act62783
Com&anies Act62783
, w:e$e)7 e3e$7
, w:e$e)7 e3e$7
com5an7 is $e>'i$e! 6o com57 wi6: 6:e
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Acco'n6in4 S6an!a$!s
Acco'n6in4 S6an!a$!s
Sec6ion -11 o8 6:e Com5anies Ac6, 1+B. 9 6:e

Sec6ion -11 o8 6:e Com5anies Ac6, 1+B. 9 6:e
8o$m an! con6en6s o8 )aance s:ee6 an! 5$o8i6
8o$m an! con6en6s o8 )aance s:ee6 an! 5$o8i6
an! oss acco'n6.
an! oss acco'n6.

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Sec6ion -1C (-AA) 9 P$esc$i)es 6:a6 6:e

Sec6ion -1C (-AA) 9 P$esc$i)es 6:a6 6:e
Boa$!Ks $e5o$6 s:o'! inc'!e a
Boa$!Ks $e5o$6 s:o'! inc'!e a
-irectors;
-irectors;
Res&onsi)i(it% Statement
Res&onsi)i(it% Statement
In!ica6in4 6:e$ein
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6:a6 in 6:e 5$e5a$a6ion o8 6:e ann'a acco'n6s,
6:a6 in 6:e 5$e5a$a6ion o8 6:e ann'a acco'n6s,
6:e a55ica)e acco'n6in4 s6an!a$!s :a! )een
6:e a55ica)e acco'n6in4 s6an!a$!s :a! )een
8oowe!
8oowe!
Sec6ion --C(1)(!) 9 D'67 '5on 6:e

Sec6ion --C(1)(!) 9 D'67 '5on 6:e
auditor of
auditor of
the com&an% to re&ort
the com&an% to re&ort
on s'c: com5iance
on s'c: com5iance

www.caaa.in
.,
Sec6ion -11(1C) A
Sec6ion -11(1C) A
"ACAS
"ACAS
cons6i6'6e! 'n!e$
cons6i6'6e! 'n!e$
sec6ion -1*A a!3ise 6:e Cen6$a @o3e$nmen6
sec6ion -1*A a!3ise 6:e Cen6$a @o3e$nmen6
on
on
formu(ation and (a%ing down of the
formu(ation and (a%ing down of the
accounting standards for ado&tion )%
accounting standards for ado&tion )%
com&anies
com&anies
N
IRDA (P$e5a$a6ion o8 Financia S6a6emen6s
IRDA (P$e5a$a6ion o8 Financia S6a6emen6s
an! A'!i6o$Ks Re5o$6 o8 Ins'$ance
an! A'!i6o$Ks Re5o$6 o8 Ins'$ance
Com5anies) Re4'a6ions, -*** $e>'i$es
Com5anies) Re4'a6ions, -*** $e>'i$es
ins'$ance com5anies 6o 8oow 6:e Acco'n6in4
ins'$ance com5anies 6o 8oow 6:e Acco'n6in4
S6an!a$!s iss'e! )7 6:e ICAI.
S6an!a$!s iss'e! )7 6:e ICAI.
www.caaa.in
.+
Com&(iance with AS
Com&(iance with AS
S=BI an! RBI

S=BI an! RBI
$e>'i$e com5iance wi6: 6:e
$e>'i$e com5iance wi6: 6:e
8$om 6ime 6o 6ime
8$om 6ime 6o 6ime
www.caaa.in
C*
More a)out Ind AS
More a)out Ind AS
Ind ASs Ind ASs a$e 6:e nea$ 8ina In!ian Acco'n6in4 S6an!a$!s a$e 6:e nea$ 8ina In!ian Acco'n6in4 S6an!a$!s
iss'e! )7 Ins6i6'6e o8 C:a$6e$e! Acco'n6an6s o8 In!ia an! iss'e! )7 Ins6i6'6e o8 C:a$6e$e! Acco'n6an6s o8 In!ia an!
no6i8ie! )7 6:e @o3e$nmen6 o8 In!ia. no6i8ie! )7 6:e @o3e$nmen6 o8 In!ia.
A 6:e 1B s6an!a$!s iss'e! a$e con3e$4e! wi6: IFRS. A 6:e 1B s6an!a$!s iss'e! a$e con3e$4e! wi6: IFRS.
2:e !a6e o8 im5emen6a6ion o8 6:e In! AS wi )e no6i8ie! 2:e !a6e o8 im5emen6a6ion o8 6:e In! AS wi )e no6i8ie!
)7 6:e Minis6$7 o8 Co$5o$a6e A88ai$s a6 a a6e$ !a6e. )7 6:e Minis6$7 o8 Co$5o$a6e A88ai$s a6 a a6e$ !a6e.
Bo6: )7 5$esen6a6ion an! meas'$emen6 5$inci5es 6:e7 Bo6: )7 5$esen6a6ion an! meas'$emen6 5$inci5es 6:e7
a$e new se6 o8 acco'n6in4 s6an!a$!s !e3eo5e! in 6:e a$e new se6 o8 acco'n6in4 s6an!a$!s !e3eo5e! in 6:e
ine o8 IFRS ine o8 IFRS
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C1
Termino(ogies used in Ind AS
Termino(ogies used in Ind AS
2:e 6e$m PS6a6emen6 o8 Financia Posi6ionQ

2:e 6e$m PS6a6emen6 o8 Financia Posi6ionQ
:as )een $e5ace! )7 PBaance S:ee6Q
:as )een $e5ace! )7 PBaance S:ee6Q
2:e 6e$m PS6a6emen6 o8 Com5$e:ensi3e

2:e 6e$m PS6a6emen6 o8 Com5$e:ensi3e
IncomeQ )7 PS6a6emen6 o8 P$o8i6 an! LossQ
IncomeQ )7 PS6a6emen6 o8 P$o8i6 an! LossQ
2:e wo$!s P a'6:o$iLa6ion o8 6:e 8inancia

2:e wo$!s P a'6:o$iLa6ion o8 6:e 8inancia
s6a6emen6s 8o$ iss'eQ :a3e )een $e5ace!
s6a6emen6s 8o$ iss'eQ :a3e )een $e5ace!
)7 Pa55$o3a o8 6:e 8inancia s6a6emen6s 8o$
)7 Pa55$o3a o8 6:e 8inancia s6a6emen6s 8o$
iss'eQ
iss'eQ
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C-
First Time Ado&tion
First Time Ado&tion
Uni&e IFRS, In!ian Acco'n6in4 S6an!a$!s a$e a

Uni&e IFRS, In!ian Acco'n6in4 S6an!a$!s a$e a
new se6 o8 acco'n6in4 s6an!a$!s iss'e! )7 ICAI,
new se6 o8 acco'n6in4 s6an!a$!s iss'e! )7 ICAI,
w:ic: :a3e no6 )een 8oowe! )7 an7 one
w:ic: :a3e no6 )een 8oowe! )7 an7 one
)e8o$e,
)e8o$e,
hence a(( the entities wi(( )e ado&ting
hence a(( the entities wi(( )e ado&ting
these standards for the first time in India9
these standards for the first time in India9
Pa$a -A 6o In! AS 1*1 :as 4$an6e! s5ecia

Pa$a -A 6o In! AS 1*1 :as 4$an6e! s5ecia
e<em56ion 6o en6i6ies )7 4$an6in4 6:em s5ecia
e<em56ion 6o en6i6ies )7 4$an6in4 6:em s5ecia
concession 5e$6ainin4 6o 5$e5a$a6ion o8 o5enin4
concession 5e$6ainin4 6o 5$e5a$a6ion o8 o5enin4
)aance s:ee6 as 5e$ In! AS.
)aance s:ee6 as 5e$ In! AS.
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C1
Com&arative Financia(
Information
Information
In acco$!ance wi6: In!9AS 1*1, a 8i$s6 6ime

In acco$!ance wi6: In!9AS 1*1, a 8i$s6 6ime
a!o56e$ nee! no6 5$o3i!e 6:e co$$es5on!in4
a!o56e$ nee! no6 5$o3i!e 6:e co$$es5on!in4
5$e3io's 5e$io! 8inancia s6a6emen6s in
5$e3io's 5e$io! 8inancia s6a6emen6s in
acco$!ance wi6: In! 9 AS w:en i6 $e5o$6s i6s 8i$s6
acco$!ance wi6: In! 9 AS w:en i6 $e5o$6s i6s 8i$s6
In!9AS 8inancia s6a6emen6s
In!9AS 8inancia s6a6emen6s
2:e 8i$s6 6ime a!o56e$ s:a 5$esen6 a6es6

2:e 8i$s6 6ime a!o56e$ s:a 5$esen6 a6es6
co$$es5on!in4 5$e3io's 5e$io!sK 8inancia
co$$es5on!in4 5$e3io's 5e$io!sK 8inancia
s6a6emen6s 5$e5a$e! as 5e$ 6:e 5$e3io's @AAP
s6a6emen6s 5$e5a$e! as 5e$ 6:e 5$e3io's @AAP
w:en 5$esen6in4 i6s 8i$s6 In!9AS 8inancia
w:en 5$esen6in4 i6s 8i$s6 In!9AS 8inancia
s6a6emen6s.
s6a6emen6s.
www.caaa.in
C/
Information
Information
In 6e$ms o8 6:is In!9AS, a 8i$s6 6ime a!o56e$

In 6e$ms o8 6:is In!9AS, a 8i$s6 6ime a!o56e$
:as 6:e 8oowin4 6wo o56ions"
:as 6:e 8oowin4 6wo o56ions"
2:is 8i$s6 In!9AS 8inancia s6a6emen6s wo'!

2:is 8i$s6 In!9AS 8inancia s6a6emen6s wo'!
inc'!e 6:e 5$e3io's 7ea$sK com5a$a6i3e
inc'!e 6:e 5$e3io's 7ea$sK com5a$a6i3e
8i4'$es as 5e$ 6:e 5$e3io's @AAP.
8i4'$es as 5e$ 6:e 5$e3io's @AAP.
Do'n6a$i7 5$o3i!e 6:e 5$e3io's 7ea$sK

Do'n6a$i7 5$o3i!e 6:e 5$e3io's 7ea$sK
com5a$a6i3es co$$es5on!in4 6o 6:e 8i$s6 In!
com5a$a6i3es co$$es5on!in4 6o 6:e 8i$s6 In!
9AS 8inancia s6a6emen6s aso 'n!e$ In!9AS on
9AS 8inancia s6a6emen6s aso 'n!e$ In!9AS on
a memo$an!'m )asis
a memo$an!'m )asis
www.caaa.in
CB
Information
Information
An en6i67Ks com5a$a6i3e 8inancia s6a6emen6s

An en6i67Ks com5a$a6i3e 8inancia s6a6emen6s
'n!e$ In!9ASs s:o'!"
'n!e$ In!9ASs s:o'!"
i. A557 consis6en6 acco'n6in4 5oicies 8o$ 6:e 8i$s6
i. A557 consis6en6 acco'n6in4 5oicies 8o$ 6:e 8i$s6
In!9AS 8inancia s6a6emen6s an! com5a$a6i3e
In!9AS 8inancia s6a6emen6s an! com5a$a6i3e
5e$io!
5e$io!
ii. A557 6:e o56iona e<em56ions consis6en67 as a6
ii. A557 6:e o56iona e<em56ions consis6en67 as a6
6:e !a6e o8 6$ansi6ion, i.e, )e4innin4 !a6e o8 6:e
6:e !a6e o8 6$ansi6ion, i.e, )e4innin4 !a6e o8 6:e
8inancia 7ea$ 8o$ w:ic: an en6i67 5$esen6s
8inancia 7ea$ 8o$ w:ic: an en6i67 5$esen6s
8inancia in8o$ma6ion 'n!e$ In! 9ASs an!
8inancia in8o$ma6ion 'n!e$ In! 9ASs an!
iii.Deeme! !a6e o8 6$ansi6ion, i.e, )e4innin4 !a6e o8
iii.Deeme! !a6e o8 6$ansi6ion, i.e, )e4innin4 !a6e o8
6:e com5a$a6i3e 8inancia 7ea$ 8o$ w:ic: an en6i67
6:e com5a$a6i3e 8inancia 7ea$ 8o$ w:ic: an en6i67
5$esen6s 8inancia in8o$ma6ion 'n!e$ In!9ASs.
5$esen6s 8inancia in8o$ma6ion 'n!e$ In!9ASs.
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C.
Transition <&(anation = Ind AS
Transition <&(anation = Ind AS
Acco$!in4 6o Pa$a -1 o8 6:e In! AS 1*1

Acco$!in4 6o Pa$a -1 o8 6:e In! AS 1*1
P
P
An entity shall explain how the transition
An entity shall explain how the transition
from previous AAP to Ind ! ASs affected
from previous AAP to Ind ! ASs affected
its reported "alance Sheet# financial
its reported "alance Sheet# financial
performance and cash flows$%
performance and cash flows$%
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CC
Reconci(iations
Reconci(iations
An en6i67Ks 8i$s6 In! 9AS 8inancia s6a6emen6s s:a

An en6i67Ks 8i$s6 In! 9AS 8inancia s6a6emen6s s:a
inc'!e"
inc'!e"
(a)
(a)
Reconci(iation of its *uit%
Reconci(iation of its *uit%
$e5o$6e! in
$e5o$6e! in
acco$!ance wi6: In! 9ASs 6o i6s e>'i67 in
acco$!ance wi6: In! 9ASs 6o i6s e>'i67 in
acco$!ance wi6: 5$e3io's @AAP on 6:e !a6e o8
acco$!ance wi6: 5$e3io's @AAP on 6:e !a6e o8
6$ansi6ion 6o In!9ASs.
6$ansi6ion 6o In!9ASs.
()) Si4ni8ican6 !i88e$ences )e6ween 5$e3io's @AAP
()) Si4ni8ican6 !i88e$ences )e6ween 5$e3io's @AAP
an! In! 9AS in $es5ec6 o8 i6s
an! In! 9AS in $es5ec6 o8 i6s
tota(
tota(
com&rehensive income
com&rehensive income
(o$ i8 i6 !i! no6 $e5o$6
(o$ i8 i6 !i! no6 $e5o$6
s'c: a 6o6a, 5$o8i6 o$ oss).
s'c: a 6o6a, 5$o8i6 o$ oss).
www.caaa.in
A55ica6ion o8 E6:e$ S6an!a$!s
In! AS , !oes no6 a557 6o c:an4es in

In! AS , !oes no6 a557 6o c:an4es in
acco'n6in4 5oicies an en6i67 ma&es w:en i6
acco'n6in4 5oicies an en6i67 ma&es w:en i6
a!o56s In!9ASs o$ 6o c:an4es in 6:ose 5oicies
a!o56s In!9ASs o$ 6o c:an4es in 6:ose 5oicies
'n6i a86e$ i6 5$esen6s i6s 8i$s6 In!9AS 8inancia
'n6i a86e$ i6 5$esen6s i6s 8i$s6 In!9AS 8inancia
s6a6emen6s.
s6a6emen6s.
I8 !'$in4 6:e 5e$io! co3e$e! )7 i6s 8i$s6 In! 9AS

I8 !'$in4 6:e 5e$io! co3e$e! )7 i6s 8i$s6 In! 9AS
8inancia s6a6emen6s an en6i67 c:an4es i6s
8inancia s6a6emen6s an en6i67 c:an4es i6s
acco'n6in4 5oicies o$ i6s 'se o8 6:e e<em56ions
acco'n6in4 5oicies o$ i6s 'se o8 6:e e<em56ions
con6aine! in 6:is In!9AS, i6 s:a e<5ain 6:e
con6aine! in 6:is In!9AS, i6 s:a e<5ain 6:e
c:an4es )e6ween i6s 8i$s6 In!9AS in6e$im 8inancia
c:an4es )e6ween i6s 8i$s6 In!9AS in6e$im 8inancia
$e5o$6 an! i6s 8i$s6 In!9AS 8inancia s6a6emen6s
$e5o$6 an! i6s 8i$s6 In!9AS 8inancia s6a6emen6s
www.caaa.in

If an entit% did not &resent financia(
If an entit% did not &resent financia(
statements for &revious &eriods6 its
statements for &revious &eriods6 its
first Ind AS financia( statements sha((
first Ind AS financia( statements sha((
disc(ose that fact9
disc(ose that fact9
www.caaa.in
In! AS 1*/ on Ins'$ance Con6$ac6s A 2:e

In! AS 1*/ on Ins'$ance Con6$ac6s A 2:e
s6an!a$! is ma!e e88ec6i3e 8o$ 6:e
s6an!a$! is ma!e e88ec6i3e 8o$ 6:e
acco'n6in4 5e$io! )e4innin4 on o$ a86e$
acco'n6in4 5e$io! )e4innin4 on o$ a86e$
6:e !a6e o8 6$ansi6ion, :ence 6:e$e is no
6:e !a6e o8 6$ansi6ion, :ence 6:e$e is no
>'es6ion o8 $e6$os5ec6i3e e88ec6 'ni&e
>'es6ion o8 $e6$os5ec6i3e e88ec6 'ni&e
IFRS w:ic: $e>'i$es $e6$os5ec6i3e
IFRS w:ic: $e>'i$es $e6$os5ec6i3e
a55ica6ion in acco$!ance wi6: 6$ansi6iona
a55ica6ion in acco$!ance wi6: 6$ansi6iona
5$o3ision 6:a6 !a6es )ac& 6o 6:e acco'n6in4
5$o3ision 6:a6 !a6es )ac& 6o 6:e acco'n6in4
5e$io! )e4innin4 on o$ a86e$ 1./ -**/
5e$io! )e4innin4 on o$ a86e$ 1./ -**/
www.caaa.in
In! AS -1 A Bo$$owin4 Cos6 A 2$ansi6iona

In! AS -1 A Bo$$owin4 Cos6 A 2$ansi6iona
5$o3isions o8 In! AS -1 on Bo$$owin4 Cos6
5$o3isions o8 In! AS -1 on Bo$$owin4 Cos6
is a55ica)e
is a55ica)e
www.caaa.in
,-
In! AS ?o6i8ie! A MCA P$ess
Reease !a6e! -B.-.-*11
2:i$67 8i3e In!ian Acco'n6in4 S6an!a$!s

2:i$67 8i3e In!ian Acco'n6in4 S6an!a$!s
con3e$4e! wi6: In6e$na6iona Financia
con3e$4e! wi6: In6e$na6iona Financia
Re5o$6in4 S6an!a$!s (:ence8o$6: cae!
Re5o$6in4 S6an!a$!s (:ence8o$6: cae!
I?D AS) a$e )ein4 no6i8ie! )7 6:e Minis6$7
I?D AS) a$e )ein4 no6i8ie! )7 6:e Minis6$7
an! 5ace! on 6:e we)si6e.
an! 5ace! on 6:e we)si6e.
2:ese a$e" I?D ASs 1, -, C, ,, 1*, 11, 1-,

2:ese a$e" I?D ASs 1, -, C, ,, 1*, 11, 1-,
1., 1C, 1,, 1+, -*, -1, -1, -/, -C, -,, -+,
1., 1C, 1,, 1+, -*, -1, -1, -/, -C, -,, -+,
11, 1-, 11, 1/, 1., 1C, 1,, 1+, /*, 1*1,
11, 1-, 11, 1/, 1., 1C, 1,, 1+, /*, 1*1,
1*-, 1*1, 1*/, 1*B, 1*., 1*C an! 1*,.
1*-, 1*1, 1*/, 1*B, 1*., 1*C an! 1*,.
www.caaa.in
,1
2:e Minis6$7 o8 Co$5o$a6e A88ai$s wi im5emen6

2:e Minis6$7 o8 Co$5o$a6e A88ai$s wi im5emen6
6:e IFRS con3e$4e! In!ian Acco'n6in4
6:e IFRS con3e$4e! In!ian Acco'n6in4
S6an!a$!s in a 5:ase! manne$ a86e$ 3a$io's
S6an!a$!s in a 5:ase! manne$ a86e$ 3a$io's
iss'es inc'!in4 6a< $ea6e! iss'es a$e $eso3e!
iss'es inc'!in4 6a< $ea6e! iss'es a$e $eso3e!
wi6: 6:e conce$ne! De5a$6men6s.
wi6: 6:e conce$ne! De5a$6men6s.
I6 wo'! )e ens'$e! 6:a6 6:e im5emen6a6ion o8

I6 wo'! )e ens'$e! 6:a6 6:e im5emen6a6ion o8
6:e con3e$4e! s6an!a$!s in a 5:ase! manne$ is
6:e con3e$4e! s6an!a$!s in a 5:ase! manne$ is
smoo6: 8o$ 6:e s6a&e:o!e$s.
smoo6: 8o$ 6:e s6a&e:o!e$s.
2:e !a6e o8 im5emen6a6ion o8 6:e I?D AS wi )e

2:e !a6e o8 im5emen6a6ion o8 6:e I?D AS wi )e
no6i8ie! )7 6:e Minis6$7 a6 a a6e$ !a6e.
no6i8ie! )7 6:e Minis6$7 a6 a a6e$ !a6e.
www.caaa.in
Re3ise! Sc:e!'e DI
Re3ise! Sc:e!'e DI
2:e Minis6$7 o8 Co$5o$a6e A88ai$s (MCA) :as on

2:e Minis6$7 o8 Co$5o$a6e A88ai$s (MCA) :as on
Fe)$'a$7 -,, -*11 $eease! a $e3ise! 3e$sion o8
Fe)$'a$7 -,, -*11 $eease! a $e3ise! 3e$sion o8
Sc:e!'e DI 6:a6 wi a557 6o a com5anies
Sc:e!'e DI 6:a6 wi a557 6o a com5anies
'ni8o$m7 8o$ 6:e 8inancia s6a6emen6s 6o )e
'ni8o$m7 8o$ 6:e 8inancia s6a6emen6s 6o )e
5$e5a$e! 8o$ 6:e 8inancia 7ea$ -*1*911 an!
5$e5a$e! 8o$ 6:e 8inancia 7ea$ -*1*911 an!
onwa$!s.
onwa$!s.
2:e $e3ise! Sc:e!'e DI :as )een 8$ame! as

2:e $e3ise! Sc:e!'e DI :as )een 8$ame! as
5e$ 6:e e<is6in4 non9con3e$4e! In!ian
5e$ 6:e e<is6in4 non9con3e$4e! In!ian
Acco'n6in4 S6an!a$!s no6i8ie! 'n!e$ 6:e
Acco'n6in4 S6an!a$!s no6i8ie! 'n!e$ 6:e
Com5anies (Acco'n6in4 S6an!a$!s), R'es,
Com5anies (Acco'n6in4 S6an!a$!s), R'es,
-**. an! :as no6:in4 6o !o wi6: 6:e con3e$4e!
-**. an! :as no6:in4 6o !o wi6: 6:e con3e$4e!
In!ian Acco'n6in4 S6an!a$!s.
In!ian Acco'n6in4 S6an!a$!s.
www.caaa.in
,B
MCA ?o6i8ica6ions on IFRS
-etermination of A&&(ica)i(it% -etermination of A&&(ica)i(it%
2. 2.
th th
>anuar% .525'.. >anuar% .525'..
nd nd
>anuar% .525'12 >anuar% .525'12
st st
March .525'58 March .525'58
th th

A&ri( .525 A&ri( .525
Com&anies covered in :hase I Com&anies covered in :hase I wi 5$e5a$e 6:ei$ wi 5$e5a$e 6:ei$
financia( statements for .522?2. in accordance with financia( statements for .522?2. in accordance with
the first set of Accounting Standards the first set of Accounting Standards (i.e. 6:e (i.e. 6:e
con3e$4e! Acco'n6in4 S6an!a$!s) )'6 wi s:ow 5$e3io's con3e$4e! Acco'n6in4 S6an!a$!s) )'6 wi s:ow 5$e3io's
7ea$sK 8i4'$es as 5e$ 6:e 8inancia s6a6emen6s 8o$ -*1*9 7ea$sK 8i4'$es as 5e$ 6:e 8inancia s6a6emen6s 8o$ -*1*9
11 i.e. as 5e$ non9con3e$4e! acco'n6in4 s6an!a$!s. 11 i.e. as 5e$ non9con3e$4e! acco'n6in4 s6an!a$!s.
2:e en6i67 s:a :a3e 6:e o56ion 6o a!! an a!!i6iona 2:e en6i67 s:a :a3e 6:e o56ion 6o a!! an a!!i6iona
co'mn 6o in!ica6e w:a6 6:ese 8i4'$es co'! :a3e )een i8 co'mn 6o in!ica6e w:a6 6:ese 8i4'$es co'! :a3e )een i8
6:e 8i$s6 se6 o8 Acco'n6in4 S6an!a$!s (i.e. con3e$4e! 6:e 8i$s6 se6 o8 Acco'n6in4 S6an!a$!s (i.e. con3e$4e!
acco'n6in4 s6an!a$!s) :a! )een a55ie! in 6:a6 5$e3io's acco'n6in4 s6an!a$!s) :a! )een a55ie! in 6:a6 5$e3io's
7ea$ 7ea$
www.caaa.in
,.
Com5anies w:ic: ma&e 6:is a!!i6iona

Com5anies w:ic: ma&e 6:is a!!i6iona
!iscos'$e wi, 8o$ 6:is 5'$5ose, con3e$6 6:ei$
!iscos'$e wi, 8o$ 6:is 5'$5ose, con3e$6 6:ei$
o5enin4 )aance s:ee6 as a6 6:e !a6e on w:ic:
o5enin4 )aance s:ee6 as a6 6:e !a6e on w:ic:
6:is 5$e3io's 7ea$ commences
6:is 5$e3io's 7ea$ commences
Com&anies covered in .nd ' 1rd &hase

Com&anies covered in .nd ' 1rd &hase
8o$
8o$
a55ica6ion o8 6:e
a55ica6ion o8 6:e
first set of Accounting
first set of Accounting
Standards
Standards
wi :a3e an o56ion 8o$ a55ica6ion o8
wi :a3e an o56ion 8o$ a55ica6ion o8
6:e 8i$s6 se6 o8 acco'n6in4 s6an!a$!s (i.e. 6:e
6:e 8i$s6 se6 o8 acco'n6in4 s6an!a$!s (i.e. 6:e
con3e$4e! Acco'n6in4 S6an!a$!s) on7 8o$ 6:e
con3e$4e! Acco'n6in4 S6an!a$!s) on7 8o$ 6:e
8inancia 7ea$ commencin4 on 1s6 A5$i, -*11 o$
8inancia 7ea$ commencin4 on 1s6 A5$i, -*11 o$
6:e$ea86e$
6:e$ea86e$

www.caaa.in
,C
:hase I Com&anies ? wi(( &re&are their
:hase I Com&anies ? wi(( &re&are their
financia(
financia(
statements for .522?2. in accordance with
statements for .522?2. in accordance with
the first set of Accounting Standards
the first set of Accounting Standards
Com5anies w:ic: a$e 5a$6 o8 ?S= A?i867 B*

Com5anies w:ic: a$e 5a$6 o8 ?S= A?i867 B*
Com5anies w:ic: a$e 5a$6 o8 BS= ASense< 1*

Com5anies w:ic: a$e 5a$6 o8 BS= ASense< 1*
Com5anies w:ose s:a$es o$ o6:e$ sec'$i6ies a$e

Com5anies w:ose s:a$es o$ o6:e$ sec'$i6ies a$e
is6e! on s6oc& e<c:an4es o'6si!e In!ia
is6e! on s6oc& e<c:an4es o'6si!e In!ia
Com5anies, w:e6:e$ is6e! o$ no6, w:ic: :a3e a

Com5anies, w:e6:e$ is6e! o$ no6, w:ic: :a3e a
ne6 wo$6: in e<cess o8
ne6 wo$6: in e<cess o8
Rs.1, *** c$o$es

Rs.1, *** c$o$es
www.caaa.in
,, 88
$anking Com&anies and "$FCs ? wi(( convert

$anking Com&anies and "$FCs ? wi(( convert
their o&ening )a(ance sheet at 2st A&ri( .521
their o&ening )a(ance sheet at 2st A&ri( .521
A sc:e!'e! comme$cia )an&s an! 6:ose

A sc:e!'e! comme$cia )an&s an! 6:ose
'$)an co9o5e$a6i3e )an&s w:ic: :a3e a ne6
'$)an co9o5e$a6i3e )an&s w:ic: :a3e a ne6
wo$6: in e<cess o8 Rs. 1** c$o$es wi con3e$6
wo$6: in e<cess o8 Rs. 1** c$o$es wi con3e$6
6:ei$ o5enin4 )aance s:ee6 as a6 1s6 A5$i, -*11
6:ei$ o5enin4 )aance s:ee6 as a6 1s6 A5$i, -*11
in com5iance wi6: 6:e 8i$s6 se6 o8 acco'n6in4
in com5iance wi6: 6:e 8i$s6 se6 o8 acco'n6in4
s6an!a$!s (i.e., con3e$4e! acco'n6in4
s6an!a$!s (i.e., con3e$4e! acco'n6in4
s6an!a$!s)
s6an!a$!s)
www.caaa.in
,+ 89
?BFCs
?BFCs
Com5anies w:ic: a$e 5a$6 o8 ?S= A ?i867 B*

Com5anies w:ic: a$e 5a$6 o8 ?S= A ?i867 B*
Com5anies w:ic: a$e 5a$6 o8 BS=A Sense<

Com5anies w:ic: a$e 5a$6 o8 BS=A Sense<
1*
1*
Com5anies, w:e6:e$ is6e! o$ no6, w:ic: :a3e

Com5anies, w:e6:e$ is6e! o$ no6, w:ic: :a3e
a ne6 wo$6: in e<cess o8 Rs.1, *** c$o$es. 2:e
a ne6 wo$6: in e<cess o8 Rs.1, *** c$o$es. 2:e
!a6e 8o$ !e6e$mina6ion o8 6:e c$i6e$ia is 6:e
!a6e 8o$ !e6e$mina6ion o8 6:e c$i6e$ia is 6:e
Baance S:ee6 as a6 11s6 Ma$c: -*11 o$ 6:e
Baance S:ee6 as a6 11s6 Ma$c: -*11 o$ 6:e
8i$s6 Baance S:ee6 5$e5a$e! 6:e$ea86e$ w:en
8i$s6 Baance S:ee6 5$e5a$e! 6:e$ea86e$ w:en
6:e acco'n6in4 7ea$ en!s on ano6:e$ !a6e
6:e acco'n6in4 7ea$ en!s on ano6:e$ !a6e

www.caaa.in
+* 90
:hase II Com&anies ? wi(( convert their

:hase II Com&anies ? wi(( convert their
o&ening )a(ance sheet as at 2st A&ri(6
o&ening )a(ance sheet as at 2st A&ri(6
.521
.521
.2:e com5anies, w:e6:e$ is6e! o$ no6,
.2:e com5anies, w:e6:e$ is6e! o$ no6,
:a3in4 a ne6 wo$6: e<cee!in4 Rs. B** c$o$es )'6
:a3in4 a ne6 wo$6: e<cee!in4 Rs. B** c$o$es )'6
no6 e<cee!in4 Rs. 1,*** c$o$es wi con3e$6 6:ei$
no6 e<cee!in4 Rs. 1,*** c$o$es wi con3e$6 6:ei$
o5enin4 )aance s:ee6 as a6 1s6 A5$i, -*11, i8
o5enin4 )aance s:ee6 as a6 1s6 A5$i, -*11, i8
6:e 8inancia 7ea$ commences on o$ a86e$ 1s6
6:e 8inancia 7ea$ commences on o$ a86e$ 1s6
A5$i, -*11 in com5iance wi6: 6:e no6i8ie!
A5$i, -*11 in com5iance wi6: 6:e no6i8ie!
acco'n6in4 s6an!a$!s w:ic: a$e con3e$4en6 wi6:
acco'n6in4 s6an!a$!s w:ic: a$e con3e$4en6 wi6:
IFRS.
IFRS.
www.caaa.in
+1
:hase?III@ ?
:hase?III@ ?
wi(( convert their o&ening )a(ance
wi(( convert their o&ening )a(ance
sheet as at 2st A&ri( .524
sheet as at 2st A&ri( .524
. Lis6e! com5anies
. Lis6e! com5anies
w:ic: :a3e a ne6 wo$6: o8 Rs. B** c$o$es o$ ess
w:ic: :a3e a ne6 wo$6: o8 Rs. B** c$o$es o$ ess
wi con3e$6 6:ei$ o5enin4 )aance s:ee6 as a6 1s6
wi con3e$6 6:ei$ o5enin4 )aance s:ee6 as a6 1s6
A5$i, -*1/, i8 6:e 8inancia 7ea$ commences on
A5$i, -*1/, i8 6:e 8inancia 7ea$ commences on
o$ a86e$ 1s6 A5$i, -*1/, w:ic:e3e$ is a6e$, in
o$ a86e$ 1s6 A5$i, -*1/, w:ic:e3e$ is a6e$, in
com5iance wi6: 6:e no6i8ie! acco'n6in4
com5iance wi6: 6:e no6i8ie! acco'n6in4
s6an!a$!s w:ic: a$e con3e$4en6 wi6: IFRS
s6an!a$!s w:ic: a$e con3e$4en6 wi6: IFRS
www.caaa.in
+-
$anking com&anies $anking com&anies
A sc:e!'e! comme$cia )an&s an! 6:ose '$)an co9 A sc:e!'e! comme$cia )an&s an! 6:ose '$)an co9
o5e$a6i3e )an&s (UCBs) w:ic: :a3e o5e$a6i3e )an&s (UCBs) w:ic: :a3e a net worth in a net worth in
e<cess of Rs9 155 crores e<cess of Rs9 155 crores wi con3e$6 6:ei$ o5enin4 wi con3e$6 6:ei$ o5enin4
)aance s:ee6 as a6 1s6 A5$i, -*11 )aance s:ee6 as a6 1s6 A5$i, -*11
U$)an co9o5e$a6i3e )an&s w:ic: :a3e a ne6 wo$6: in U$)an co9o5e$a6i3e )an&s w:ic: :a3e a ne6 wo$6: in
e<cess o8 Rs. -** c$o$es )'6 no6 e<cee!in4 Rs. 1** e<cess o8 Rs. -** c$o$es )'6 no6 e<cee!in4 Rs. 1**
c$o$es wi con3e$6 6:ei$ o5enin4 )aance s:ee6s as a6 1s6 c$o$es wi con3e$6 6:ei$ o5enin4 )aance s:ee6s as a6 1s6
A5$i, -*1/ A5$i, -*1/
U$)an co9o5e$a6i3e )an&s w:ic: :a3e a ne6 wo$6: no6 U$)an co9o5e$a6i3e )an&s w:ic: :a3e a ne6 wo$6: no6
e<cee!in4 Rs. -**c$o$es an! Re4iona R'$a )an&s e<cee!in4 Rs. -**c$o$es an! Re4iona R'$a )an&s
(RRBs) wi no6 )e $e>'i$e! 6o a557 6:e 8i$s6 se6 o8 (RRBs) wi no6 )e $e>'i$e! 6o a557 6:e 8i$s6 se6 o8
Acco'n6in4 S6an!a$!s Acco'n6in4 S6an!a$!s
www.caaa.in
+1
Insurance Com&anies
Insurance Com&anies
9 A ins'$ance
9 A ins'$ance
com5anies wi con3e$6 6:ei$ o5enin4 )aance
com5anies wi con3e$6 6:ei$ o5enin4 )aance
s:ee6 as a6 1s6 A5$i, -*1- in com5iance wi6:
s:ee6 as a6 1s6 A5$i, -*1- in com5iance wi6:
6:e con3e$4e! In!ian Acco'n6in4 S6an!a$!s.
6:e con3e$4e! In!ian Acco'n6in4 S6an!a$!s.
"$FCs
"$FCs
?on9)an&in4 8inancia com5anies (?BFCs) wi

?on9)an&in4 8inancia com5anies (?BFCs) wi
con3e$6 6:ei$ o5enin4 )aance s:ee6 as a6 1s6
con3e$6 6:ei$ o5enin4 )aance s:ee6 as a6 1s6
A5$i, -*11 a$e
A5$i, -*11 a$e
Com5anies w:ic: a$e 5a$6 o8 ?S= A ?i867 B* Com5anies w:ic: a$e 5a$6 o8 ?S= A ?i867 B*
Com5anies w:ic: a$e 5a$6 o8 BS= 9 Sense< 1* Com5anies w:ic: a$e 5a$6 o8 BS= 9 Sense< 1*
Com5anies, w:e6:e$ is6e! o$ no6, w:ic: :a3e a ne6 Com5anies, w:e6:e$ is6e! o$ no6, w:ic: :a3e a ne6
wo$6: in e<cess o8 Rs.1, *** c$o$es. wo$6: in e<cess o8 Rs.1, *** c$o$es.
www.caaa.in
+/
A is6e! ?BFCs an! 6:ose 'nis6e! ?BFCs w:ic: !o no6 A is6e! ?BFCs an! 6:ose 'nis6e! ?BFCs w:ic: !o no6
8a in 6:e a)o3e ca6e4o$ies an! w:ic: :a3e a ne6 wo$6: 8a in 6:e a)o3e ca6e4o$ies an! w:ic: :a3e a ne6 wo$6:
in e<cess o8 Rs. B** c$o$es wi con3e$6 6:ei$ o5enin4 in e<cess o8 Rs. B** c$o$es wi con3e$6 6:ei$ o5enin4
)aance s:ee6 as a6 1s6 A5$i -*1/ )aance s:ee6 as a6 1s6 A5$i -*1/
Unis6e! ?BFCs w:ic: :a3e a ne6 wo$6: o8 Rs. B** Unis6e! ?BFCs w:ic: :a3e a ne6 wo$6: o8 Rs. B**
c$o$es o$ ess wi no6 )e $e>'i$e! 6o 8oow 6:e 8i$s6 se6 o8 c$o$es o$ ess wi no6 )e $e>'i$e! 6o 8oow 6:e 8i$s6 se6 o8
acco'n6in4 s6an!a$!s (i.e 6:e con3e$4e! In!ian acco'n6in4 s6an!a$!s (i.e 6:e con3e$4e! In!ian
acco'n6in4 s6an!a$!s), 6:o'4: 6:e7 ma7 3o'n6a$i7 o56 acco'n6in4 s6an!a$!s), 6:o'4: 6:e7 ma7 3o'n6a$i7 o56
6o !o so, )'6 nee! 6o 8oow on7 6:e no6i8ie! In!ian 6o !o so, )'6 nee! 6o 8oow on7 6:e no6i8ie! In!ian
acco'n6in4 s6an!a$!s w:ic: a$e no6 con3e$4e! wi6: 6:e acco'n6in4 s6an!a$!s w:ic: a$e no6 con3e$4e! wi6: 6:e
IFRSs. IFRSs.
www.caaa.in
A)o'6 6:e A'6:o$
A)o'6 6:e A'6:o$
&A$ Ra'kumar S Adukia is an eminent (usiness consultant# &A$ Ra'kumar S Adukia is an eminent (usiness consultant#
academician# writer# and speaker$ )e is the senior partner of Adukia academician# writer# and speaker$ )e is the senior partner of Adukia
* Associates$ * Associates$
In addition to (eing a &hartered Accountant# &ompany Secretary# In addition to (eing a &hartered Accountant# &ompany Secretary#
&ost Accountant# M"A# +ip IFR ,-./# Mr$ Adukia also holds a &ost Accountant# M"A# +ip IFR ,-./# Mr$ Adukia also holds a
+egree in 0aw and +iploma in 0a(or 0aws and IPR$ +egree in 0aw and +iploma in 0a(or 0aws and IPR$
Mr$ Adukia# a rank holder from "om(ay -niversity completed the &hartered Mr$ Adukia# a rank holder from "om(ay -niversity completed the &hartered
Accountancy examination with 1st Rank in Inter &A * 2th Rank in Final &A# Accountancy examination with 1st Rank in Inter &A * 2th Rank in Final &A#
and 3rd Rank in Final &ost Accountancy &ourse in 1453$ and 3rd Rank in Final &ost Accountancy &ourse in 1453$
)e started his practice as a &hartered Accountant on 1st 6uly 1453# in the )e started his practice as a &hartered Accountant on 1st 6uly 1453# in the
three decades following which he left no stone unturned# (e it academic three decades following which he left no stone unturned# (e it academic
expertise or professional development$ expertise or professional development$
$ $
www.caaa.in
A)o'6 6:e A'6:o$
A)o'6 6:e A'6:o$

)e has (een coordinating with various Professional Institutions# )e has (een coordinating with various Professional Institutions#
Associations# -niversities# -niversity rants &ommission and other Associations# -niversities# -niversity rants &ommission and other
Educational Institutions$ Educational Institutions$
Authored more than 78 (ooks on a vast range of topics including Internal Authored more than 78 (ooks on a vast range of topics including Internal
Audit# "ank Audit# SE9# &AR:# PM0A# Anti!dumping# Income ;ax Search# Audit# "ank Audit# SE9# &AR:# PM0A# Anti!dumping# Income ;ax Search#
Survey and Sei<ure# IFRS# 00P# 0a(our 0aws# Real estate# ERM# In(ound Survey and Sei<ure# IFRS# 00P# 0a(our 0aws# Real estate# ERM# In(ound
and :ut(ound Investments# reen Audit etc$ and :ut(ound Investments# reen Audit etc$
;he author can (e reached at ;he author can (e reached at rajkumarradukia@caaa.in rajkumarradukia@caaa.in
Mo( > 845?88218@4 A 843?38218@4 Mo( > 845?88218@4 A 843?38218@4
For more details log on to For more details log on to www$caaa$in www$caaa$in
www.caaa.in
+C

Overview of Ind As 1201

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A'!i6o$ nee!s 6o &now 6:e acco'n6in4

Acco'n6in4 is 'n!e$4oin4 c:an4e in In!ia

W:a6 is acco'n6in4 s6an!a$!s 9 s6an!a$!s

Acco'n6in4 is a an4'a4e 6o $eco$!

Acco'n6in4 consis6s o8 6wo 6:in4s S7s6ems

S7s6ems a$e o8 6wo 675es 9 Sin4e en6$7

Me6:o! o8 Acco'n6in4 9 Cas:, Acc$'a,

1/+/ I6aian =conomis6 in6$o!'ce! !o')e

=3e$7 !e)i6 :as 6o :a3e e>'a c$e!i6

A acco'n6 :ea!s :a3e 6o 8a in 1 675es

Pe$sona, Rea an! ?omina

Pe$sona 9De)i6 6:e Recei3e$ , C$e!i6 6:e

Rea 9De)i6 w:a6 comes in, C$e!i6 w:a6 4oes

?omina 9De)i6 a e<5enses an! osses,

Unea$n w:a6 we :a3e ea$ne! so 8a$

A557 !o')e en6$7 )oo& &ee5in4

Lea$n new 6e$minoo47 8o$ acco'n6 :ea!s

Lea$n 8$om ma&e$ Ao$i4ina so'$ce

M'6i5e acco'n6in4 s6an!a$!s

Com5anies (Acco'n6in4 S6an!a$!s)

Acco'n6in4 s6an!a$!s Un!e$ sec6ion 1/B

Acco'n6in4 s6an!a$!s 8o$ oca )o!ies

@ASAB S6an!a$!s9I@AS91 simia$ 6o

2an4i)e 8i<e! asse6s A P$o5e$67, Pan6 &

In3es6men6 in Rea es6a6e AIn3es6men6

B'i!, E5e$a6e ,2$ans8e$ 6$ansac6ions A

=>'i679 S:a$e Ca5i6a , 5's Rese$3es &

B'siness Com)ina6ions9 w:en con6$o o8

Financia Ins6$'men6s A 8o$ a 8inancia

S:a$e )ase! Pa7men6

Unwin!in4 o8 in6e$es69 5$esen6 3a'e

Some conce56s a$e no6 6:e$e in new

P$io$ 5e$io! i6ems

=<6$a o$!ina$7 i6ems

De8e$e! $e3en'e e<5en!i6'$e

S6an!a$!s a$e no6 com5$e:ensi3e an!

2:e Conce56'a F$amewo$& 8o$ Financia

=emen6s o8 8inancia s6a6emen6s

Asse6s , Lia)ii6ies, =>'i67, Income an!

Com5onen6s o8 Financia s6a6emen6s

Baance s:ee6( inc'!es accom5an7in4

S6a6emen6 o8 5$o8i6 an! oss

S6a6emen6 o8 Cas: 8ows

I? SEM= CAS=S9 Baance S:ee6 a6 6:e

Asse6s ma7 )e !e)i6e! 6o e<5enses an!

Loan ma7 )e $eco$!e! as income

Fi$s6 acco'n6in4 s6an!a$!s in 1+1B in USA

@$ea6 De5$ession o8 1+-+, )i$6: o8

E6:e$ co'n6$ies s6a$6e! ma&in4 6:ei$ own

1+.. commi66ee on acco'n6in4 (a6 wo$!

1+C1 In6e$na6iona Acco'n6in4 S6an!a$!s

-**1 IFRS Fo'n!a6ion an! IASB

Un6i now ++G o8 6$ansac6ions we$e a6

Re3a'a6ion a6 !isc$e6ion o8 mana4emen6

?ow 6$ansac6ions ma7 )e a6 8ai$ 3a'e o$

P'$c:ase o8 s:a$es a6 ess 6:an 8ai$ 3a'e

Re3en'e $eco4ni6ion A$ecei3a)e a86e$ 1

C's6ome$ Lo7a67 P$o4$ammes

B'siness P'$c:ase a6 ess 6:an 8ai$ 3a'e

De5$ecia6ion on PP= A'se8' i8e

Com5onen6 acco'n6in4 8o$ PP=

Reco4ni6ion o8 In6an4i)e asse6s

In! AS 1-9 S:a$e9)ase! Pa7men6 In! AS 1-9 S:a$e9)ase! Pa7men6