Indian Accounting Standards (Ind AS) is implemented to the companies covered under Phase I and Phase II as per roadmap issued by Ministry of Corporate Affairs (MCA). Even after implementation of Ind AS, there are continuous changes in Ind AS to align with IFRS. Recently Ind AS 116 Leases has been made effective from 1st April 2019. There is huge demand of resources who can understand Ind AS and ensure operations are carried out in compliance with Ind AS rather than waiting for year end changes. To provide practical understanding of Ind AS and abreast with latest developments including Ind AS 116 leases, in simplified and easy manner, the training workshop is organized.

Program Objectives:

• What is global outlook on International Accounting and underlying principles?
• Format of Financials under Ind AS and Key changes
• Major Differences between AS and Ind AS
• Implication of New Lease Accounting Standard Ind AS 116
• Revenue Recognition Accounting Standard Ind AS 115
• Understanding accounting of Financial Instruments in simple manner
• Review of published Ind AS financials for analysis

For Whom:

• Accountant, Finance Head
• Chief Financial Officer/ Chief Executive Officers
• Chartered Accountants

COURSE OUTLINE

Day 1 :

Session 1:

§  Ind AS / IFRS : Principles and Format

Applicability and Requirement

Underlying Principles (Principle v. Rule based standards,  Historical v Fair Value concepts)

Format of Financial Statements

Session 2:

§  Property, Plant & Equipment, Intangible Assets, Investment Property

Assets related standards

Property, Plant & Equipment, Intangible Assets, Investment Property, Impairment, Held for sale (Ind AS 16, 38, 40, 36, 17, 105)

Session 3:

§  Revenue Recognition, Income Taxes

Revenue from Contract with Customers (Ind AS 115)

Income Taxes (Ind AS – 12)

Share Based Payment (Ind AS 102)

Session 4:

§  Ind AS 116 Leases : Overview and Implementation Challenges

Major Differences between AS-17 v Ind AS 116

Overview of Ind AS - 116

Implementation Issues & Challenges

Day 2 :

Session 5:

• Business Combination and Consolidation

Business Combination (Goodwill v/s Bargain Purchase, Contingent Consideration etc.)

Consolidated Financial Statements (Ind AS 110)

Joint Arrangement (Ind AS 111)

Separate Financial Statements (Ind AS 27)

Session 6:

• Other Major Differences between AS & Ind AS

Effects of changes in foreign currency (Ind AS 21)

Related Party Disclosures (Ind AS 24)

Operating Segments (Ind AS 108)

Government Grant (Ind AS 20)

Employee Benefit (Ind AS 19)

Session 7:

• Financial Instruments

Key Ratio Analysis (Leverage ratio, Profitability ratio, Liquidity ratio)

Disclosures and analysis of risk management

Factors affecting Monitoring of loans

Impacts of Estimations and assumptions used in financials

Session 8:

• Review of Published Ind AS Financials

Review of financials in detail to recap the learning

Comparison of financials including disclosures,  accounting policies

Key Takeaways