Guide To Ind AS 115 and Ind AS 116

The contents of this book are as follows:

• Ind AS 115 – Revenue from Contracts with Customers
• Clarification and Outline of Ind AS 115
• Analysis of the name of the Standard
• Scope
• 5-Step Model
• Contract Costs
• Presentation
• Disclosures
• Special Issues – Application Guidance (Appendix B of Ind AS 115)
• Transition Provisions – First-time application of Ind AS 115, i.e. switchover from Ind AS 11 and 18 (Appendix C to Ind AS 115)
• Service Concession Arrangements (Appendix D to Ind AS 115)
• Ind AS 116 – Leases
• Important Clarifications
• What is the need for Ind AS 116? & Outline of Ind AS 116
• What is a Lease?
• What is the Objective of Ind AS 116?
• Recognition Exemptions (Practical Expedients)
• Identifying Lease
• Accounting of Lease – Books of Lessee
• Accounting of Lease – Books of Lessor
• Sale and Leaseback Transactions
• Disclosures in Ind AS 116
• Transitional Provisions (Appendix C to Ind AS 116)