All posts by Treesha Jain - 4. page

Professional Tax Consultant and Article Writer

IAS-20 – Accounting for Government Grants and Disclosure of Government Assistance : Grants should not be credited directly to equity. They should be recognised as income in a way matched […]

IAS-18 – Revenue Revenue should be measured at fair value of consideration received or receivable. Usually this is the inflow of cash. Discounting is needed if the inflow of cash […]

IAS-11 – Construction Contracts If the total revenue, past and future costs, and the stage of completion of a contract can be measured or estimated reliably, revenues and costs should […]

IAS-14 – Segment Reporting : Basis of Segment Reporting: (i) Public companies must report information along product and service lines and along geographical lines. (ii) One basis of segmentation is […]

IAS-12 – Income Taxes : It provides, among other things: (i) Accrue deferred tax liability for nearly all taxable temporary differences. (ii) Accrue deferred tax asset for nearly all deductible […]

IAS-17 – Leases A lease is classified as finance lease if it transfers substantially all risks and rewards incidental to ownership. A lease is classified as an operating lease if […]

IAS-16 – Property, Plant and Equipment : The cost of an item of property, plant and equipment should be recognised as an asset if, and only if, (a) it is […]

IAS-10 – Events After the Balance Sheet Date : An entity shall adjust the amounts recognized in its financial statements to reflect adjusting events after the balance sheet date. Further […]

IAS-2 – Inventories : Inventories should be valued at the lower of cost and net realisable value. Net realisable value is selling price less cost to complete the inventory and […]

IAS-8 – Accounting Policies, Changes in Accounting Estimates and Errors : An entity shall select and apply its accounting policies consistently for similar transactions, other events and conditions, unless a […]