Accounting Clinic
A Treasure Trove of over 400+ Ind AS FAQs pertaining to India Inc, edited by Ind AS Expert Dr. Anand Banka
Featured FAQs
Companies sometimes hold assets for rental to others and these are subsequently held for sale in the ordinary course of business.
Entities sometimes receive benefits in the form of exemption from payment of indirect taxes and duties on import or export of goods upon fulfilment of certain conditions under a scheme of th...
Ind AS 37 requires entities to recognise provision for a present obligation. The provision so created has a 'credit effect' and appears under the liability side of the Balance Sheet.
Entity X provides a Customer Y with refrigerators to store the purchased chemicals at the premises of Customer Y. However, the refrigerators are not mentioned or promised to Customer Y in th...
Entity X (customer) enters into an arrangement for a period of six years with Entity Y (supplier) for the right to store its gas in a specified storage tank that has no separate compartments...
ABC Ltd. takes on lease a crossover which is explicitly specified in the contract, for a period of two years. As per the contract, ABC Ltd. can drive it only up to a maximum of 2,00,000 kilo...