Financial Reporting under Ind AS and AS

6.9.1.2 6.9.1.3 6.9.1.4

6.10

xxiv

Recognition of borrowing costs . . . . . . . . . . . . . . . . . . . . . . . . . 6.156 Determinants of borrowing costs eligible for capitalisation. . . . 6.156 Conditions of commencement, suspension and cessation of capitalisation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.157 6.9.1.5 Disclosure requirements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.157 6.9.2 Ind AS 23: Borrowing costs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.162 6.9.2.1 Recognition of borrowing costs . . . . . . . . . . . . . . . . . . . . . . . . . 6.163 6.9.2.2 Borrowing Costs Eligible for Capitalisation. . . . . . . . . . . . . . . . 6.163 Commencement of capitalisation - conditions. . . . . . . . . . . . . . 6.164 6.9.2.3 6.9.2.4 Suspension of capitalisation. . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.164 6.9.2.5 Cessation of capitalisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.164 6.9.2.6 Accounting of borrowing costs. . . . . . . . . . . . . . . . . . . . . . . . . . 6.165 6.9.2.7 Disclosure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.165 6.9.2.8 Companies (Indian Accounting Standard) Amendment Rules 2016. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.165 Companies (Indian Accounting Standard) Amendment 6.9.2.9 Rules 2018. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.165 Companies (Indian Accounting Standard) Amendment 6.9.2.10 Rules 2019. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.165 Companies (Indian Accounting Standard) Second 6.9.2.11 Amendment RulesÂ 2019. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.166 6.9.3 Income Computation and Disclosure Standard IX relating to borrowing costs. . . . 6.167 6.9.3.1 Scope. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.167 6.9.3.2 Recognition. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.167 6.9.3.3 Borrowing Costs Eligible for Capitalisation. . . . . . . . . . . . . . . . 6.167 6.9.3.4 Commencement of Capitalisation. . . . . . . . . . . . . . . . . . . . . . . . 6.168 6.9.3.5 Cessation of Capitalisation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.168 6.9.3.6 Disclosure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.169 6.9.4 Comparative summary between Ind AS, AS and ICDS . . . . . . . . . . . . . . . . . . 6.169 Government Grants. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.173 6.10.1 AS 12: Accounting for Government Grant. . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.173 6.10.1.1 Recognition of Government grants. . . . . . . . . . . . . . . . . . . . . . . 6.173 6.10.1.2 Accounting treatment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.173 6.10.1.3 Disclosure requirements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.174 6.10.2 Ind AS 20: Government Grants. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.177 6.10.2.1 Government grants. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.177 6.10.2.2 Non-monetary Government grants. . . . . . . . . . . . . . . . . . . . . . . 6.178 6.10.2.3 Presentation of grants related to assets. . . . . . . . . . . . . . . . . . . . 6.178 6.10.2.4 Presentation of grants related to income. . . . . . . . . . . . . . . . . . . 6.178 6.10.2.5 Repayment of Government Grants. . . . . . . . . . . . . . . . . . . . . . . 6.178 6.10.2.6 Disclosure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.178 6.10.3 ICDS VII relating to Government Grants. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.179 6.10.3.1 Scope. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.179

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Financial Reporting under Ind AS and AS

Published on May 8, 2019

Bloomsbury India Professional

The regulatory environment in India is governed by various statutory authorities. In today's parlance corporate enterprises have to comply with provisions of Companies Act, 2013, Accounting Standards (AS), Indian Accounting Standards (Ind AS), ICAI pronouncements and Income Computation and Disclosure Standards (ICDS). Also to meet the challenges of ever changing business environment, notifications related to amendments to each of these constituents keep coming up from time to time. Accordingly, the level of financial reporting over the last few years has gone through a metamorphosis of change and ushered in a whole new level of complexity. With a view to address this, the present book with all the latest updates aims to provide entire gamut of statutory laws, Accounting Standards and Guidance Notes of ICAI, applicable to corporates at one place while presenting financial statements. The book also incorporates inter linkages, comparisons, illustrations, diagrams, flow charts and summaries.