A. Background: In recent times, due to increased prices of land, very commonly, real estate developer / contractors may not own lands in their own names. Landowners, on the other hand, may not possess the skillset to develop the land. And thus, both parties enter into a Joint Development Agreement (“JDA”) with the landowner for...
Background: Lot of students from a commerce background faces a challenge in WHY and HOW to read an accounting standard or reporting standard under IFRS, IND AS or under any other GAAP (Generally Accepted Accounting Principles). Accounting standard or reporting standard is not a novel or a story which creates interest without relevance. One needs...
Background: Entity is engaged in the business of development of a special economic zone and industrial park. For development of SEZ, the Entity has purchased, and Government has awarded large parcels of land to the entity. The Company shall develop the land and shall create infrastructure on such land before selling/ leasing the plots to...
As we had seen in the previous blog, that mergers and acquisitions are becoming more and more common as entities aim to achieve their growth objectives. IFRS 3 / Ind AS 103 provides a detailed guidance on accounting for business combinations. Upon recognising identifiable net assets acquired in business combination, their measurement is critical...
Introduction Mergers and acquisitions are becoming more and more common as entities aim to achieve their growth objectives other than in an organic way. IFRS 3 / Ind AS 103 – Business combinations transform the way companies plan and execute their acquisition strategies. This standard applies to most of business combinations, including amalgamations/ mergers...
Overview By the end of the year 2021, some major interbank offer rates such as LIBOR, EURIBOR, TIBOR will cease to be published and will be replaced by new interest rate benchmarks. This poses challenges for accounting of broad range of financial products and contracts which use these interbank offer rates as benchmarks. To...
In the previous blog of the series on IPO reporting, we evaluated about the accounting framework applicable for the IPO. Accordingly, issuer company shall prepare restated consolidated financial information to be presented in the offer document based on reporting framework in which they have prepared their latest financial statements before filing offer document. Even if...
