Unique IND AS Disclosures by WIRC of ICAI

The Institute of Chartered Accountants of India (ICAI) has released the Unique IND AS Disclosures – A Compilation from Published Financials.

The financial reporting landscape has undergone a profound transformation in recent years, necessitating a departure from standardized, one-size-fits-all approaches. As businesses operate in increasingly complex environments, the need for tailored disclosures under Ind AS becomes paramount.

While basic disclosures are readily available, finding particular cases that align with these unique circumstances in published financial reports might be difficult. The diversity of corporate transactions, along with the subtle application of Ind AS in such circumstances, frequently results in various disclosure procedures that are difficult to access or identify.

To address this evolving landscape, the Accounting Standards (AS) and Indian Accounting Standards (Ind AS) Committee of WIRC of ICAI has curated the publication “A Compilation of Uncommon Disclosures in Practice.” This comprehensive resource aims to provide professionals with a centralized repository of practical examples, facilitating informed decision-making in complex reporting scenarios.

The contributors to this publication have meticulously researched and compiled information on a wide range of topics, including Ind AS 115 (Revenue from Contract with Customers), 107 (Financial Instruments), 102 (Share-based Payments), and other relevant standards. Their dedication and expertise have been instrumental in creating this valuable resource for the professional community.

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